Norwich bulletin., 1912-03-29
FINANCIAL AND COMMERCIAL.
VERY LIGHT TRADING.
Yesterdays Stock Dealings the Small
 est of the Week.

New York, March zS.--F'or the third successIve session Ioday's stock mar ket recorded further hesitation and re- action, with dealings the smallest or the week. Apparently sentiment con tinued to be adversely affected by the new financing of the United States Steel exploration, regardless of the opinions voiced in some quarters that the company's bond issue was no less natural than necessary. It is fact however, that the increased bonded debt affects by just 50 much the earn ing capacity of the common stock whose intrinsic value had been built up by years of careful management. On the other hand, the bond sale is con- strued as notice that the five per cent. rate is in no immediate danger Of dls- turbance.
 Another factor that contributed to todays general heaviness Is the ap- proach of April 1. with it's increasing uncertainties regarding the domestic coal situation. There is less optimism respecting a satisfactory outcome of these differences both in the anthracite and bituminous fields AdviCes from abroad showed no change in British coal strike conditions, despite the ear nest efforts of the government. Pri- vate cables from Berlin suggested some strain incidental to the quarterly settlements there, but bankers say that all preparations have been made to meet the difficulties of the situation.
 Our market opened with advances of a point in such stocks as Union Pacihc, Southern Pacific, Canadian Pacific, St. Paul and Great Northern Ore certitl- cates, In response to gains almost as large in Londons late dealings. There f- I.ov1 range of prices sent oyer by London had its origin in the operations of our own traders. All trustworthy informa- tion indicates that the English have been sellers rather than buyers of our stocks this week.
 The one conspicuous feature Of to- days business on the exchange was the transfer of speculative interest to the railway group. This was quite natural in view of the prominence shown by the industrials, particularly the metal shares, whose activity and rise during the past few weeks have been out of all proportion to former markets. Hartman is3ues were con spicuous for their strength during the early session. but off on publication of February earnings.
 There was more or less pressure up- on United States Steel Amalgamated Copper and American Smelting, there with recent favorites selling at lowest prices of the week. The list dragged irregularly through the afternoon until the last hour. when prices improved all around, with greater activity than was shown at any time after the open ing. ReCoveries ranged from one to two points above the low and the rally was in progress at the end.
 On the curb one of the Standard Oil subsidiaries. the Standard OIl Com pany of Kentucky, furnished the sen sation of the day. The stock opened at TOO, a. rise over night of 150 points, advanced in small lots to 1000, from which it suddenly dropped to $50, and the last actual sale was at 500. Ac- cording to gossip, the movement prin- cEpaliy represented squeeze" of the shorts. Most likely it presages the declaration of large stock bonus. The bond market was steady. Total dealings, par value, amounted to S5,- Al, 900.
 United States governments were un- changed on cali,
 Standard oil Stock at St,oo0. New York. March 28.-Another elt- growth of the recent dissolution of the Standard Oil company of New Jersey into thirty odd constituents was the rise today of shares of the Standard i Oil oornpany Of Kentucky to the un- prenAdented price of $1,0Oo a share 1l1a -foaf- .5ae.et7 vestnr6aV at 6EN hid