Norwich bulletin., 1912-05-16
FINANCIAL AND COMMERCIAL.
PROFESSIONAL OPERATIONS.
Secondary SpeciaItiss Continue Active
 for No Manifest Reason.

New York May 15.-In most of it's salient features today's stock market was a repetition of the preceding day. There was the same immoderate bid ding up of the hard coal shares, Cana dian Pacific and a score or more of secondary or low priced speoialties, with alternate recessions, recoveries and periods of duilness. The move ment apparently represented little more than the operations of the pro fessional element, and there was fur ther evidence of inside liquidation. es- pecially in the more prominent specu- latiVe stocks. This latter condition seemed the more apparent with every recurrent rally and gave color to the belief that the interests Instrumental in recent advance were the more dis posed to leave the market to it's own devices.
 The opening saw the usual number of wide or decided gains, Lehigh Valley, American Sugar, International Paper preferred and InteFborough- Metropolitan preferred rising point or over, with virtually no declines. Before tho end of the first half hour, however, nearly all these advances were completely obliterated and by noon the average level of prices was on a parity with or under the lowest of the previous day. Soon after mid day another buying movement in Le- high Valley and Reading restored a large part of the early losses and added to the gains registered by the obscure specialtieg, while Canadian Pacific went to 269, a new high rec ord. Eliminating "rumoTs" and ''pri- vate adviCes," absolutely nothing de- veloped to explain the rise in Cana dian Pacific, but the small floating supply of the stock in the market, to- gether with the manipulative tactics of certain traders, were assumed to be back of the rise
 In the last hour other dormant spe- cTaltieS were taken up, while the usual leaders manifested fresh irregu- 1 larity. The market settled down to general dullness, surface conditions denuting increased conservatism on the part of the traders, with an utter l absence of anything suggesting out l side or public interest Aside from a sudden tWO-pOint rise in Illinois Cen
 tral, which helped to bring that stock
 out of it's extreme depression of the
 previous week. the closing was moder- | ateiy active, with a mixture of gains and losses. Some idea of the market S 1 unusual character may be gained from | e4AO ASA~I NA4ohL A0<AaAAA5S HI SUnI6 SLOChS | relatively unknown a few weeks ago at times exceeded those in such a for I mer favorite as Union Pacific Total 1 dealings aggregated 6S3,00O shares, o1
 which almost cne-third was made up ! of two stecbs-Reading and United l States Steel.
 London bought about 25,0OO shares | here, principally United States Steel
 and sold some Amalgamated Copper and Lehigh Valley. The improved ! state of the copper trade during the past year is shown in the report ot
 the Anaconda Copper Mining company 1 controlled by Amaigamated which gives earnings of 7.42 Der cent
 on it's increased capital, compared with
 5.42 per cent in 1910, while sales in-
 creased by almost 5000, GOO.
 The bond market was inclined. tc
 ease off at first, but hardened later 1 Total sales, par value, amounted tC
 $2.sS2, 900.
 United States bonds unchanged or call,