Norwich bulletin., 1912-04-23
FINANCIAL AND COMMERCIAL.
DULL AND sAGcINe.
Possibility of Engineers Strike Al
 fects Stock Market.


 
 New York, April 22-Uncertainty respecting the outcome of the differ | ence between the eastern railway managers and thes locomotive engi- neers was the foremost. if not the aIl- | important factor in today's business ] on the stock exchange. The attitude | of both parties to the dispute offered i little hope of an early solution, and at i the close of the market the whole sit uation was still in the air, although l Wall street seemed to proceed on the theory that every possible effort was being made to avert a strike. There were other developments in the course of the day that served to check any manifestations of a bullish character.
 l Affairs at Washington played some l part in the days financial affairs The adoption of a resolution by the United States senate calling for a review of the American Tobacco case as decid- ed by the United States circuit court ! caused an abrupt decline in some of the former subsidiaries of the latter fcOmpany. The senate also took a hand in the proposed dissolution of 1 the International Harvester company and the supreme court of the United :. States rendered a decision the effect of which makes fer more reasonable rates to shippers
 The stock market was dull and sag ging for the greater part of the day except in the first hour and the last More or less pressure was directed against the standard stocks, especial ly in the later session, but a sudden buying movement in Reading, which had been conspic1IolIsly weak, stiffen- ed the entire list. Closing prices wipe cd out majority of the more mate rial declines, and net losses, except ir a few instances, were scarcely more than fractional It is not unlikely that the strength and activity of Reading was due to the fact that it sells "ex- dividend" tomorrow, which in itself would naturally induce some short covering.
 Announcement of the intention ot the Bethlehem Steel company to issue some $50, ,000,0OO of bonds by way oI readjusting it's more pressing obliga- bons explains in part the recent activ- ity in the company's shares, Similar conditions apply to the Pittsburg Coal company, it being understood that steps will soon be taken te finance the company in such & manner as te tmake payment of accrued dividends CT Ethe preferred stock more probable,
 Trading here fer London was SC light as to have nc significance. Lon don's own markets were comparative lily featuTeless, with an easier tendency to discounts. The Bank of HHgiand had practically no competition ill ac- quiring the greater part of the $S,- 006, 600 South African gold offered there. On the Paris beuFse prices were firm and rates recovered from last Saturdays decline, Some weak ness was reported from Berlin,
 Relaxation of foreign demand fei cash resulted in another reduction oi time rates here, the quotation foi three and four months being IA pei cent, under last weeks. The sirb- treasury was again tie medium fel the shipment Of currency to New Or 1 leans and San Francisco,
 Tine bend market WAS ineiined tt sag, with ssme support of the better known issues, Total sales, par value $2,sS4, 900,
 United States governments uhehaHg. I ed on call,