Norwich bulletin., 1912-02-27
FINANCIAL AND COMMERCIAL,
DAMPENlNG INFLUENCES.
Roosevelt's Letter, English Coal Sit-
 uation and Mexico's Troubles.

New York, Feb. 26.-Two factors stood out most prominently in con nection with the reactionary tone of today's stock market. These were Colonel Roosevelt's letter and the ap- preaching coal strike in England. It would be difficult to determine which of these was the more important as market influence. The financial dis trict was hardly surprised at the eX- presidents g communication to the gov ernors, but seemed disposed to place an unfavorable construction upon that document despite the fact that only a short time ago it was supposed to re- gard his possible candidacy with no little favor. The progress of the Eng fish coal situation towards it's more critical stage was viewed with consid- erable alarm. This was evidenced not only in the heaviness of Americans in London but in the trend of the Lon don and continental markets as well.
 Other events which served to damp en the ardor and narrow speculative public comprised the Mexican situa- tion, the coming congressional inves- tigation of the money power and addi- tionaI labor outbreaks in New Eng land. During the early part of the ses- sion the markets movements were also retarded by the possibility of an ad- verse decision by the United States sureme court in the long delayed Reading coal case.
 Under these circumstances it was not to be wondered that the market moved with practically no impulse, even though important financial inter ests wer quoted as declaring that conditions are steadily improving. This statement was borne out in a measure by the Calumet and Hecla di- rectors, who declared a quarterly divi- dend of SS, as against the preceding payment of S6 per share. It is gen. erally believed, however, that the cop per trade at this particular period stands in @ more favorable position than any other important industry, but this condition is regarded as an isolat- ed one. The state of the steel and iron trade shows no immediate betterment and shares of the independent com panies, including Republic Iron and Steel and Bethlehem Steel, were again conspicuously weak.
 Of the more active stocks. Reading was weakest, declining another full point to the lowest level since the lat ter part of January. Steel and Union Pacific moved within the range of point and Southern Pacific was but slightly influenced by q supreme court decision affecting its land holdings Canadian Pacific displayed greater heaviness than any other high class issue, its early decline of 1-2 points being assisted by London selling, FFe- eurna1Jly for Berlin account
 In the group of specialties Centra Leather preferred Federal Mining General Motors and the tobacco issues all showed pronounced weakness Sears -Roebuck, almost alone of 1t' class, was strong, after some earl! beaviness. The market closed with nc variation from it's dullness and a prices which showed little change il the more activo issues.
 The bond market was inclined tF steariness, but shaded off toward thu close. Total sales, par value, were Sz' 157,OO0.
 United States twos advanced 1-' per cent. the threes registered S-S and Panama threes coupon 1-S on call