Norwich bulletin., 1910-12-28
FINANCIAL AND COMMERCIAL.
LOSSES OF 4 POINT
And Over in Better Known Issues--
 Severe Declines in Others.

New York, Dec 27.-The trend to- ward reaction which dominated last weeks operations in the stock market became rather more pronounced with the resumption of business today, and resulted in losses of a point and over in the better Snogn issues, with more severe declines Tn certain specialties. Trading throughout the session was small in volume, with frequent peri Ods of absolute stagnation. If surface conditions may be accepted, the heavi- ness of the list was largely due to the aggressive short selling by a profess sional group which only recently was more or less conspicuous for the extent of it's commitments to the other side. There were no signs of liquidation. but it may be safely assumed that at lea st a part of today's transactions repre- eented sales by investors who have be- come weary or disheartened with the lUllueSs of the market and the outlook in general
 Developments over the triple holiday embraced the usual traffic reports from western railroad centers, which indi- cated heavy receipts and shipments of grains and other foodstuffs and well authenticated statements that the gov ernment at Washington is soon to be- gin action against the so-called cleo tricaI trust. The sentimental effects of this reported move or the part of the authorities was rather depressing. inasmuch as Wall street had been led Co expect that no new trust prosecu- tions would be undertaken pending the outcome of the Standard Oil and American Tobacco cases. Sharles of the several concerns in this particular category were heavy, with a loss of al- most four points in General Electric.
 The strength of Consolidated Gas and Western Maryland was in marked contrast to the general weakness of the list. but the movement in these stocks elicited no outside support.
 The closing of q local state bank whose troubles are commonly believed to be an aftermath of the panic of 1907, while in no particular sense a market factor, was hardly helpful to the bull account. The banks difficult ties. however served to call attention to the latest report of the state bank ing department. which demonstrates the strong position of vast majority of these institutions compared with e year ago.
 The London stock exchange was clos ed today and European markets gen oraliV were dull and featureless. The fortnishtly settlement begins in Lon- don tomorrow, with no indication that the contango for Americans will be higher than recently. Money is work ing tighter in London, however, and another shipment of gold to Egypt. ap- proXimating s1.200,0O0 was made by the Bank of England
 Last weeks bank statement, show ing q further gain of cash by local in stitutions was a contrasting factor to the greater monetary ease in this mar ket. A more important influence, how ever. was the lighter demand for time accommodations and the extreme dull ness in the securities market.
 An unusually large number of rail- road reports was issued in the course of the day, of which the most notable was Atchison, which showed a, very large increase in gross and a compara- lively moderate saving in net. Most of the other exhibits were of a similar tenor,
 The bond market was irregular. To- tai sales. par value, s2.233,000. United States bonds were unchanged on call.