Norwich bulletin. [volume] (Norwich, Conn.) 1895-2011, 1910-02-09
FINANCIAL And COMMERCIAL.
RECOVERY AND LATER BREAK
Shows That Suspicion Still Lingers in
the Speculative Mind.

New York, Feb. S.-The stock mar
ket showed some relief today from
the stress Of urgent liquidation, which
was so conspicuous yesterday. The
hesitating tone the recovery and
the renewed break at the last were ell
oquent of the suspicion still harbored
in the speculative mind after the many
false differences recently drawn that
liquidation had been completed and the
way prepared for an upturn.
There was a wave of selling orders
for execution when the market opened
which seemed to be the aftermath of
yesterdays precipitate decline in
prices. The decline had served to
exhaust or diminish additional margins
and where the calls sent out over night
for replenishment of resources were
not responded to, the selling out of
collateral was the consequence. The
news of the market was of the same
nature as yesterday; that is, puzzled
conjuecture as to the sources and the
motives of the selling. The course of
this conjecture tended to eliminate
suppositions of inside liquidation such
as would be prompted by fears for the
industrial outlook or decline in PROFITS
professional bear operations on the
short side were responsible for the
severe declines did not get many adj
hererts. The languid demand today
when the liquidation seemed to be
checked and prices tended towards
recovery was corroborative of the dis
belief in any large responsibility of
bear opera tons for the later stages of
the decline. The professional element
in the speculation, in fact, saw the re-
newed evidence of forced liquidation
yesterday with surprise and were tim
i'd in extending their commitments on
the short slide of the market. There
was lack of recuperative power in the
market for this reason, when prices
ceased to go down. The lapse into
idleness at the recoveries today kept
speculative sentiment watchful and
somewhat discouraged The opinion
gained ground that the markets weak
ness was due to debated liquidation of
large individual accounts dating back
to the period of price initiation last
year and which had injudiciously over
stayed the market.
Stock market sentiment regarding
the federal incorporation bill intro
duced into congress yesterday was
improved today. This was partly
caused by expressions Of approval of
the measure on the part Of corporation
interests, especially by United States
pressed and the questionable chances
of the bills enactment at the present
session reported from Washington
made it doubtful whether the action of
the stock market was traceable to the
influence.
The copper trade reported some
concessions in prices for that metal,
but the January statistics of the Cop
per PRODUCERS ASSOCIATION are expect
ed to show another material decrease
in stocks. The copper induxtrials to-
day were exceptionally heavy.
The nervousness of the speculation
manifested itself in. the final break in
prices which put Union Pacific, United
States Steel and Amalgamated Copper
to the lowest prices of the session and
of the movement.
Bonds were heavy. Total sales. par
value, $4,305, 900. United States bonds
were unchanged on call.