Norwich bulletin., 1911-09-01
FINANCIAL AND COMMERCIAL.
MARKET INDIFFERENT.
Following an Opening Rise, Prices
Kept Within q Narrow Rance.

New York Aug. 31--F'oIlowing q
snarp rise at the opening of the market
and a subsequent recession, stocks
were kept within a narrow range to-
day. trading was aimless and traders
were indifferent. The chief demand for
stocks seemed to arise from the short
interest. and buying from that side of
the market was largely responsible for
the opening advance in which a num-
Der of important issues gained from
one to Two points. The demand at a
hgher level was so limited that the
market gradually fell back During
the day there were several small move
ments arising usually from efforts of
bear traders to bring on a renewal of
the decline, but they netted so little
that the session ended with only a few
changes of Importance.
Pressure was again directed against
Lehlgh Valley to a marked extent and
at one time during the day the stock
fell three points from the high mark
of the session. 1t was said in ex-
PLANTATION of the heavy selling in this
issue during the last two days that
the holdings of a large interest in the
property had been thrown on the mar
ket Later in the day Amalgamated
Copper was attacked in much the
same manner, relapsing nearly two
points. The similarity in the two
movements gave rise to the belief that
both were bear raids, intended to facil-
itate short coverings. Lehigh Valley s
bottom price Of the day was the lowest
of the year.
Business fell to the smallest propor-
tons of several days. The decision of
the governors of the exchange to close
1t on the Saturday preceding Labor
day, resulting in a triple holiday over
the coming week end, was largely re-
sponsible for the days dullness, as
traders were not inclined to increase
their commitments dqno1ia111y in Vie
of uncertainty as to what may develop
in regard to the labor situation. In
terest continued to turn largely upon
the, prospects of strikes on the Harri-
man and other lines The situation is
regarded as of such Importance espe
cially in view of reports of growing
unrest on the part of employees of vari-
Gus other lines, that it is expected to
act as a deterrent to market activity,
until the issue shall be shaped more
clearly.
sharp advance in the cotton mar
ket was ascribed to expectations of an
unfaVorable showing of tho govern
ments forthcoming cotton report, which
was foreshadoWed by private advices
from the south The movement appar-
emily found no reflection in the stock
market.
Securities of both the great cor
porations against which the supreme
court entered DEGREES in the anti trust
SullS were act1Ve To-Day. transfer
books of the Standard Oil company
closed today and transactions in this
stock in the outside market were con-
seauently for cash only. An offer was
made of SO for the stock "ex-subsi-
diaries" but traders refused to deal in
the issue on those terms until better
opportunity is presented of detarmin-
ing their value. Various plans were
afoot today to prevent violent fuctua-
tions in quotations tomorrow. but at
the close of the day it was uncertain
what course the trading would take.
American Tobacco securities were
strong throughout the session. A ia
vorable inference was drawn from the
announcement that the courts had
sanctioned a plan whereby the COM
pany would defray expenses of the re-
orsa nization committees.
Bonds were Irregular. Total sales,
par value. s1.340, 900. United States
bonds were unchanged on call.