Norwich bulletin., 1912-06-08
FINANCIAL AND COMMERCIAL,
FOREIGN INFLUENCE.
Conditions Abroad Reflected in Amer
 ioan Stock Markets.

New York, June 7.-The local stock market today was governed to very considerable extent by the foreign sit uation. London's prices fer Americans before the opening hour reflected de- gree of selling pressure which doubt less originated in Berlin where the approach of the mid-year settlements is awaited with some anxiety. There IS now a general and well defined be- lief that the German empire is suffer- ing from financial and other economic ills, superinduced by over extension, especially in various fields of industry.
 Bankers here. whose intimate rela- tions with affrairs abroad entitle their views to more than ordinary respect, are of the opinion that Germany's s markets may have to undergo drastic liquidation and some temporary em- barrassment before conditions in that country can become altogether normal German financial interests continue to negotiate here for loans, as well as in London and Paris. The latter market is being most favored at the moment, out LOndon's spare resources also are being requisitioned, as was shown in tcday's gold shipments from the Brit ish metropolis to Berlin
 Other foreign conditions, including Italy's pressing financial needs, the riots in Belgium and recurrent labor troubles in London and the provinces are being taken into account, and the more acute phase of the Cuban situa- tion may be regarded as something of a factor. Very recent domestic politi- cal developments were received with afparent indifference.
 Among the few news items of direct market interest was the May report of the copper producers association, which showed a large decrease in the supply of the metal on handS This was largely due to the increased demand at home and abroad, especially the lat ter. as production in May was some what in excess of the preceding month. Copper shares were steady to strong in the early dealings. but fell off later in common with the balance of tn ; active list.
 Of the stock market, ss a whole. it need only be said that the movement was irregular OR heavy throughout the session, with prices at lowest level in the last hour on the news that the United States supreme court, which was holding an unexpected session. had reversed the commerce court s findings against the interstate com
 
 decisions. The only marked exceptions to the general apathy of the list was in the Tobacco stocks, American Snuff adding 16 1-2 points to yesterdays gain of 10. with advances that ranged from to points in Liggitt and Mey- CTS. Lorillard, American Tobacco and several other former subsidiaries. Am erican Beet Sugar and American Sugar also were active at higher prices. Time money worked towards greater ease today, the rate for ninety days being approximately the same as for two months s-namely per cent. De mand for commercial paper is on the increase with reduction to 3 1-2 per cent. for prime quality Local banks should gain from $4,OOO.0O0 to S5,000. coo on the week, but the loan account is a matter of conjecture by reason of the growing inquiry to meet month end requirements,
 Bonds were irregular. with weak ness in Wabash issues. Total sales, par value, $2,222,00
 United States government bonds un- changed on call.