Norwich bulletin., 1910-08-10
FINANCIAL AND COMMERCIAL.
POSITIVE STRENGTH SHOWN. Substantial Demand for Stocks Devel- ops-Dealinss Largely Professional.
9.-The development

New York, Aug 9.-The development l,of positive strength in the stock mar power of resistance to unfavorable fac tors which was demonstrated. The news of the attempt upon. the life of Mayor Gaynor confronted the market when it opened. This new element was superposed upon the disappoint- the grain crops, which influenced the market at the close yesterday. The depression of the early prices was so moderate as to serve as warning to the bear element in the speculation that present holders of stocks would not be induced easily to sell. A mar xet bare of stock Is not a comfortable situation for an uncovered short and substantial demand sprang up from that source. Tine advance in prices was largely due to that cause. The dealings were in a large degree profes- sional, the heavy congestion of the dealings in a few stocks being good proof. Reading, Union Pacific and United Steel, 1t will be found, absorb ed upwards Of half the total transac- tions in all stocks
 There was some disposition to re- wise yesterdays appraisement of the government crop report and to take a more hopeful view of it's promise. The grain markets having adjourned yesterday before the publication of the bulletin on the report, the stock
 
 the action Of those markets, upon which reliance is largely placed in sha ping stock market action. The qui- ct tone of the corn market today and a downward tendency in wheat left no room for sensational differences of harm to those crops The weather news of the day was good, and the tone of the weekly bulletin of the weather bureau stren gthened the assumption that improvement had been going on eir a nf Inent report
 Cotton was affected even more sharply by the weather news, especial ly the prospects of rains in Texas, this time for those concerned for the cotton crop
 Tn the field of dividend action there was the increase in the Canadian Pa cif1c dividend and the maintenance of the regular dividend of the Sloss Shef- field Steel dividend. The Canadian railroad stock made strong response. The declaration of the regular divi- dend on Sloss Sheffield Steel disposed of rumors that have been very insist ent that it was intended to reduce or pass the dividend. The rebound in the price was correspondingly sharp.
 The better feelings over the crop promise was of far reaching effect. The maner of it's working was illus trated in the assertion made by Presi- dent Brown of the New York Central that he was influenced in placing large orders for new equipment by the con- viction that good harvests were now assured The influence of this was seen in the iron and steel industrtals, inucIuding United States Steel
 Secondary consideration of the July statistics Of the Copper Producers as- sociation seemed to give greater satis- faction than the first impression, and the copper stocks were all strong.
 Bonds were drnls except for the de pression of New York city stocks.Sfo- tai sales. par value, 1,1S7 900.
 United States twos registered ad yanced Is and the coupon 1-4 per cent. in the bid price on call.