Norwich bulletin., 1912-04-09
FINANCIAL AND COMMERCIAL.
ACTIVITY CONTINUES.
Advance Punotuated by Pauses for
 Profit Taking,

New York, April S.-While London and the Continental exchanges contin- ued their observance of the Easter hol- idays, the local stock market resumed It's activity and advance. The rise was very irregular however, being punctu- ated with frequent pauses and set backs from proft-taking and renewed aggresslons by the short interest. but in the main results favored the bull accounts. Our market was somewhat encouraged over the definite settlement Of the English coal strike and week end advices from various domestic points emphasized last weeks reports of general betterment in business. This was indicated today in the statements of railway traffic managers end in an other advance in prices of steel bars and tin plate. In the west especially revival Of trade was shown in the fur ther hardening of money rates.
 Announcement that the money power investigation is to be given Wednesday and that some of the fore most tinanciars and capitalists in the country are to appear before the con- gressionai committee appeared to eX- erctse no adverse influence in banking circles, although a few weeks ago the prospects of such an inquiry inspired both comment and concern. As for the anthracite strike outlook the best and most impartial opinion is that the operators will be induced to make fur ther concessions and that President Taft may be appealed to for arbitra- ton.
 United States Steel and Union Pa cliic were the leaders of today's early movement, with eaius of one or two points in more than @ score of other issues some, to be sure, of less than secondary importance. New high rec ords for the year were established bv some standard securities, while Ameri- can Can common and preferred were noteworthy for the highest quotations in their history The tobacco issues attracted attention by their spectacu- lar movements, Ldggett and Myers ris- ing over six points and Lorillard five, By midday, when a total of more than half 8 million shares had been reached, Steel and Union Pacific reflected the e1ects of heavy selling by going un- der last weeks closing quotations. with increased heRviness in tho con- pers. On the other hand. Reading and Lehigh Valley took tho lead with ex- tensive buying Of both issues to the accompaniment of rumors that the long deferred decision of the United OlhteB supreme court In the Heading case might soon be rendered No de- Velopment of that character material ized. however, but the assignment by the court of the so-called intermoun- tain rato cases over to tho full term was something of disappointment to railway interests. Transactions in the late session were much below those of tho morning and prices evinced a ten- de1cy to yield, except in the coalers and miner specialties. In the final dealings a demand for American Smeltine and Rock Island common and preferred imparted degree of ac- tivity but the movement failed to take in the more standard issues, most of whicE closed at net declines.
 Call money did not get above four per cent today and supply was In ex- cess of demand. Time rates hardened partly in response to out of town withdrawals and. some further strengthening of local reserves.
 The bond market was irregular. To- tai sales, par value, $3,2S2, 900. United States bonds unchanged on call