Norwich bulletin., 1910-01-28
PRINCIPAL LEADING STOCKS
 ESTABLISH LOW RECORDS.
Bears Offered Prices Down With Great Aggressiveness-The Market Closed Good Deal Unsettled.

New York, Jan. 27.-The violent con-
 tortions in the price movements of
 stocks which have been the character istic of the weeks market had another ilIustra ton today. Yesterdays sudden recovery was wiped out for the most part and prices of some of the princi-
 pal leading stocks were established at
 lower records than in the demoraliza-
 tion of Tuesday. The only news cited to account for the heavy selling was the French disaster by flood French bankers estimates of the minimum losses, according to cabled reports, government official estimate was re-
 ported as high as s200, 100000. Those figures do not offer adequate explana- tiOn for any great dislocatlon of eco homie and financial agencies. The rate
 of international exchange on Paris showed no sign of disturbance, sterling
 exchange at Paris holding at yester
 days price. The same was true of the Paris cheque in New York. Some of the days selling of stocks in New York was reported to be for foreign account,
 but there was nothing to show that these sales were in unusual proportion to the whole. Prices. of Americans in London before the New York stock market opened were higher generally than yesterdays last prices in New
 York and the first dealings here mo- mentarily responded to that example. It became quickly manifest, however, that no demand of any account existed here at the price levels established by this movement in London and the vio- lent recovery of yesterday here. In- ternatiOnal bankers in New York are not inclined to look for grave inter national consequences from the French losses, owing to the abundant ability of the French home money markets and government relief measures to meet any emergency. The more gem era1 opinion of the forces at work in the days stock market was of an or ganized bear party which took advan- tage of the dying down of demand at yesterdays recovered prices to put out fresh short lines and to offer prices down with great aggreSsiveness. Not much opposition was apparent to these operations, the market suffering from the entire absence apparently of any supporting mea sures. There was great congestion of activity in the most highly speculative stocks in the list. all of them, however, of properties of first importance. The Hartman Pa cif1cs were the especial target of at tack and it met with no manifest op- position. Runors of the hostile in tentions of the government authorities towards those companies were circu- lated in connection with the weakness, in strong contrast with the reports of compromise of the government suit which were in circulation a short time ago. Among the industrials, United States Steel maintained it's usual em- thence and Colorado Fuel was handled with especial severity. The coppers got no benefit from the steps towards a merger which is expected to result in improved control of the output and marketing of that metal Pennsylvania offered notable resistance to the days weakness and was prominent in the recovery. The approach of the divi- dend period had an effect on the stock The closing tone was a good deal un- settled, notwithstanding the nervous ness manifested by uncovered shorts It was their buying to cover which made the occasional rallies in the mar ket Bonds were irregular. Total