Norwich bulletin. [volume] (Norwich, Conn.) 1895-2011, 1910-02-10
FINANCIAL and COMMERCIAL.
PRICES UP AGAIN.
Principal Gains at Close from to
Points.

New York. Feb. s.-When prices OF
stocks started upwards this morning
from two to over three points for the
ma ority of the active speculative is
sues it was read as a reversal of policy
on the part of the great controlling
financial powers, rather than as re-
f1ectipg any sudden change IN the con-
ditIOn of affairs. 1t served notice, at
the same time thar the operations of
the bear party would not be allowed
to go on unoppoSed.
Practical suspension of efforts to
support the market has been it's mark
verest portion OF the recent depression
The effect of this withdrawal of sup
port has caused the impression that
inside interests in the great corpora
tions and financial institutions were
acutely apprehensive of their own flu
ture on account of the rigor of the
laws, both those in force and those in
contemplation. There has grown up
a spirit of criticism of the policy of
leaving the securities market open to
factors of depression without attempts
to contest them. The suspicion that
this policy was prompted partly by
the fact that distribution had been eft
fected on large accunnulations of stocks
held by the important financial powers,
leaving it to their advantage to have
prices recede and thus afford oppor-
tunity for repurchase at an advantage.
has added force to the criticism There
were reports today of this criticism
having taken the form of open and
sharp reproof from a section Of the
banking world representing the great
commercial and mercantile interests of
the country in distinction from the
financial relations OF the majority of
the Wall street banks This reproof
was said to have pointed to the pose
of alarm adopted by some OF the dnan-
cial authorities as injurious to the
commercial situation and as having a
repressive effect on business activity.
Whatever the inspiration, the stock
market gave clear evidence from the
outset today that the downward drift
of prices was to be no longer unop-
posed. The late drive at the market
yesterday had TO be made up at the
rebound. The effect of the recovery
on sentiment was obvious More cheer
full views were expressed of business,
industrial and political prospects
The December earnings of the New
York Central lines gave material for
and were made the text for COMPARE
sons of conditions and OF prices. The
combined operations of all the lines in
the system showed gross earnings for
expansion of S29, 2S5. 6S7 over the year
before The increase in net earnings,
allowing for the growth of operating
expenses, amounted to 81, 453, 40, which
is more than 33 per cent. greater than
for the calendar year 1908. The fact
that New York Central shares sold this
week lower than in February last year
was made matter for some commentary
on relative conditions then and now
in the light of the years operating re-
suits New York CentraPs response
revived the buying and completed the
rout of the shorts, who bought very
heavily in the closing dealings, extend
ing the principal gains to from three
to five points.
Bonds were firm. Total sales par
value. $4,O47 .000. United States threes
registere dand the fours registered ad-
vanced one-QUarter per cent on call.