Norwich bulletin., 1912-02-07
FINANCIAL and COMMERCIAL,
FAIRLY ACTIVE TRADING.
Stocks Make Temporary Squirt With
Coalers in the Lead.

New York, Feb. 6.-Under the lead
of the cOalers, quotations of stocks
advanced vigorously for d time today.
Trading was fairly active with keen
bidding for the Hartman stocks and
some Of the southern issues, as well as
the coalers. The strength Of these is
sues spread through the list and the
market became broad with substantial
advances in every quarter But the
movement seemed to be largely ma
nipulative and evoked no sustained de-
mand. Short covering was decided
factor in the advance, and when the
inquiry for this purpose became less
insistent the market grew dull. Dur
ing the afternoon prices were almost
motionless, until shortly before the
close, when profit taking scaled down
the days gains.
The course Of stocks today empha-
sized the inertia of the market at
present, and the inability Of profess
sional traders to move it far in either
direction. In explanation of the lack
of initiative it is said that the large
traders are unwilling to take a definite
stand until they learn whether there
is to be a congressional investigation
Of the money trust. The uncertainties
Of the political situation apparently
have affected the investment demand
as well as speculative operations AL
though investment buying of bonds
has been fairly active recently there
are no indications that the demand is
spreading to the high grade investment
stocks. ApprehensiOns as to political
developments have been supplemented
by the influence Of Indifferent business
conditions and doubts as to the ability
Of some railroads to maintain their
dividend rates.
The demand for the coal stocks re-
suited in an advance in Central Rail
road of New Jersey which was almost
spectacular.
The opening bid Of $40 was advanced
steadily with no offers, and it was
necessary to raise the price 35 points
before stock was sold Delaware and
Hudson rose FIVE points, Reading three
and Lehigh Valley and several other
coal stocks scored lesser gains. Great
Northern preferred responded to a
strong statement of earnings for De-
cember Some of the tobacco stocks
showed marked weakness for q time.
American Tobacco broke six and a
half, but later rallied sharply.
United States Steel, which rose
more than a point, lost most of its
gain. SeulnB OF InlS ana OInef SJdD-
dard issues which brought about the
reaction late in the day was perhaps
influenced by the granting of an in
junction against the steel corporation
to prevent it from destroying records
which might be Of use as evidence in
the governments dissolution suit.
Foreign exchange rates weakened
and bankers stated that conditions had
worked further awav from the point
at which gold might be exported
profitably to Europe. The provisional
engagement of an unlimited amount
of gold bars for export to Paris was
made known 1t is understood that
special engagements have been made
for this movement. so that it is indie
pendent to exchange rates. The theory
commonly advanced is that the gold is
for the use of one Of the contestants
In the war in TripoM
A strengthening influence was the
Unexpectedly favorable gross earnings
for January Of a number of railroads
The bond market ruled firm. Distil-
lers flves made up a large part OF
Yesterdays loss. but did not hold the
improvement fully. Total sales. par
value. s2,S7s,0o0. United States bonds
were unchanged or call