Norwich bulletin., 1912-06-04
FINANCIAL AND COMMERCIAL
BUSINESS HELD UP,
Proximity of National Conventions
 Causes Temporary Halt.


 New York, June S.-Prfces ebbed and flowed siuggishIy in the stock market today, except in some of the high priced specialt1es, especially American Tobacco, which added 13 points to its rise of last week in anticipation of a large bonus or scrip dividend which is said to be impending Other tobacco issues and special securities also in the dividend class and a few whose in trinsip value is not so well defined rose from to , points, but the movement in the actual leaders was circum- scribed and frequently uncertain. Cop per shares were active and fairly strong on the steady demand for the metal at the new high price The Amalgamated company issued its an- nual report for the preceding year, dis closing earnings equal to about 41-3 per cent on the outstanding stock Its total surplus for 1911 was increased by $2SO0,0 900, with increased liabilities of S963, 900.
 Tho dullness of the morning was fol- lowed by absolute stagnation in the later session There was more than the usual lack of initiative for both accounts, a condition which experience ed observers attributed largely to a combination of circumstances, incIud- ing politics and economic problems, as well as restricted business and unsat- isfactory corporate earnings. The ap proach of the two important national conventions also makes for pause, not only on the part of the investor, but spectators as well.
 International bankers were giving some attention to overtures from abroad chiefly Berlin, where money continues to be in demand in connec- ton with the nlid-year settlement, now only month off. New financing by various industrial concerns at home also is in prospect, apd this is again likely to take the form of short term notes, for which 8 moderate inquiry Is shown, not only by local institutions but by banks in New England and the middle west More aloofneSs is mani fested towards regular bond issues by reason of tine unsatisfactory state of tine bond market,
 Movements of tonnage on the west ern railroads are reported to be lit- tie ahead of last year, but shipping conditions are not entirely normal, ow- ing to the continued strike of the freight handlers. Traffic officials as- sert that manufacturing interests are inclined to expand, but caution begot- ten of crop uncertainties is general
 Receipts of grain and flour at Chi cago last week were less than in the preceding week and the same period last year. A recognized authority es- inmates the latest cotton crop condi ton at about IT per cent. compared with almost 84 per cent. last year. Re- duced cotton acreage is almost 9 per cent.
 Isondon's business here was agair small, but all on the buying side. Brit ish markets were cheerful at the out taking due to the increased tension ir the strike of the dock laborers.
 The Bank of England took all the South African gold, $4,250,O 900, offered in the London market. The Imperia Bank of Germany lost $9,500, 600 casf last week, and it's gold holdings fel over $11,00, 600, while loans increased over s1.0OO,000 and discounts S18,000,- 900. Weakness and inactivity were the features of the Berlin bourse.
 Among the numerous railway returns for April, Louisville and Nashville made a gain of about $500000, Allan tic Coast Line $106,G00, and Missour Pacific $145,000; Hooking Valley fel behind by SIP, 600, while New York New Haven and Hartford managed tc make a nominal gain.
 Bonds were irregular, with some i'm proyement in the late dealings. Tota sales, par val1e, amounted to s1,S22,- 900.
 Unite States government bonds were unchanged on call