Norwich bulletin., 1910-06-21
FINANCIAL AND COMMERCIAL.
LAST PRICES THE BEST.
Stock Operators Choose the Railroad
 Bill as Subject of Discussion.

New York June 20.-The operators | in stocks chose for the central subject | of consideration today the signing by 1 President Taft of the railroad bill and l the consequent completion of contem- 1 plated legislation on that subject for 1 the present. The action of the whole | market brought the crop prospect in view as a contending factor and inter 1 rupted the influence of the railroad | hfll. There was slight increase of ami l ma ton in the speculation, as is evl- i denced by the meagre aggregate of the 1 days transactions, but the last prices | of the day were generally the best 1 The favorable effect on the tone Of | the market of the disposition of the
 railroad legislation may be due simply | to a feeling of relief that it is out of | the way. Some of itstcauses are avow- | edly distasteful to the railroads as well | as shippers. The more immediate in | fuence of the bill in the stock market comes from the fact that its passage will be made the signal for renewed notices of the intended increase or freight rates.
 In the financial district the convic-
 tion is general that increases will be granted which will conserve the pros porous condition of the railroads, whether the increases are equal to those asked or not This conviction underlies the apprehension that tactics of professed disoontent and alarm will be used by the railroads in the conduct of their campaign for the increase; tactics which may operate to discredit railroad securities as well as to recom- mend compliance with derlandS for in
 crea sed rates. The expe1iency of these
 tactics is matter of controversy, appar-
 entIy, between different banking and
 capitaIistic parties, the dispute in it.
 self warding off some of the speculative
 element from the market
 Stocks of companies whose execu- tives are most openly dissatisfied with the situation did not -ddverge notably from the upward course Of prices to-
 day. The active efforts of banking rep resentatives towards reconciling great
 shippers to the desired rate increases and the necessary consultation with the government authorities enjoined by the new railroad law carry a broad sugges- tion that future railroad rates are like ly to be subject Of agreement, which the antitrust law will hardly be tnvok- ed to prevent. Practically all the great forces of the financial world at present are directed, In faGt, towards bringing about such an agreement
 Dry weather with too great heat In the northwest and resultant active de- mand for wheat reported from that re- zion, carried a disagreeable mtimadon that the wheat crop is still subject to flarrnuI contingencies, in contrast with the lately prevailing confidence in the outcome of the harvest. The jump in wheat checked the slowly rising ten dency of prices of stocks, but without proving a stronger influence on the granger stocks than on the general list
 Copper showed another decline in price in London today. The offering for public subscription of the Southern Pacific terminal mortgage bonds upset a supposition that these bonds had been disposed of to German and Swiss bankers at absolute sale.
 The coming July money settlements are believed to have some restraint on the stock market.
 Bonds were firaner. Total sales. psr vslue $1,4S5,0O0- United States threes declined 1-4 per cent. in the bid price on call. A