Norwich bulletin., 1911-02-08
FINANCIAL AND COMMERCIAL,
MARKET CLOSED ACTIVE. Following Lifslsss Day With Narrow FIuctatisns-CepPer Prices Decline ln London.


 New York, Feb. f.-At the close of varied and uncertain day on the stock exchange prices as & whole showed few importazt variations from final 0uotatfens of the previous day, The market was Afeless and without decided tendency. and fluctuations throughout An accession of strength in the final NouS liftsd the market out of its apathstio coudition and forced up quotations to Q point which com peAsated for ea<1er losses. The clos ing was act4vU am4 strong.
 During the most of tho day a re- actionary trend wa evident, although the support which the market re- oeivsd ~n each setback prevented any extensive loSSo8 and gave the i'm pres@on that substaEtial hacking was being offered to mAintain the present improved level Such heaviness as developed was attributed. for want of better reason, to Wall streets fear that the proposed extra session of congress. fin case of failure Of the present congress to take final action on Canadian reetprocity, might open the way for Further adjustment of the tariff. It is moro likely, however, that the temporary setback was due to the fact that the market has been filled with long stock during the recent ad- vances, and that the process of i- quidation. which is stiA under way, is making itself felt more plainly with the diminishing absorptiye power which has resulted.
 Heayiness of the metal stocks, which was accompanied by a sharQ decline in copper prices in London, presumably was due to expectations of an unfavorable monthly report from the Copper Producers association to- morrow. A large increase in supply is looked for, despite the understand ing that production was to be cur tailed. The forthcoming statement of the United StateS Steel corporation's January tonnage doubtless will show as indicated by the recent statement of Chairman Gary, Another indica- ton of trade tendencies was contain ed in the announcement from Pitts burgh of a general advance in tho price of tin plate. From Fall River, however, came reports of steady cur tailment in tho output of cloth mills. and from North Carolina news that the cotton manufacturers of that state at a meeting tomorrow would con- slider the advisabiIity of reducing theif output.
 The better tone which prevailed in the late trading doubtless was due in part to the belief that the Bank of England's discount rate might be low cred tomorrow. Justification for this is found in the lower rates for call and time loans reported from London today. The London market was generally dull with nominal trading fin Americans. preliminary to the beginning tomorrow of tho fort nightly settlement. Mexicans were heavy abroad on the extension of the revolutionary movement. Great Britains foreign trade report for January showed large excess of im- ports over exports.
 The feature of the bond market was the renewed activity in the new city 1-4 per cent. bonds which touched a new high price since their allotment. Otherwise the market was stteady. Total sales, par value, $4,- 006, 900.
 United States government thress de- cliued IA on call.