Norwich bulletin. [volume] (Norwich, Conn.) 1895-2011, 1912-02-06
FINANCIAL And COMMERCIAL.
LIsTLEss TRADING.
First Quotations Somewhat Higher,
But Market Generally Dull.


New York, Feb 5.--After narrow,
irregular movement in the early part
of the day, the stock market became
dull on a level not far removed from
Saturdays close. Trading was toe
listless thereafter to affect prices ma
terially. First quotations were higher,
and brokers active In the buying said
that most Of the advances then made
were on moderate purchases from Lon
don and the execution of a few orders
which had reached commission houses
over Sunday. Outside business, how
ever, was very small, and when the
orders on hand at the opening had
been filled the list eased off. Union
Pacific, Reading, Lehigh Valley and
United States Steel reacted point or
so, but losses were soon made up, and
at the end Of the day changes in most
cases were nominal.
From the standpoint Of the specu-
lator the market situation was I'M
changed, no important new influences
having been brought to bear over the
week end or during the day. The bear
campaign of last week having failed to
enlist outside support, professional
traders were less willing to operate on
the short side of the market. Specu-
lative opinion remained bearish, but
it was thought that covering after last
weeks movement had not been carried
far enough to remove the danger of
overselling the market.
A few Of the less active issues moved
more widely than the standard stocks,
Some tobacco issues were weak.
American Tobacco dropped 7 "a and
American Snuff IA. Distillers Sc
curities stocks and bonds were unusu-
- Iooif1fptr r11sfpaq The
stock lost 3 IA and the bonds 2 IL.
Third Avenue sold off "a. Weakness
of this stock was traced to the effect
of the ruling of the public service COM
mission in regard to arrangements for
the sinking fund and depreciation
charges in connection with the APP
prevail Of the bond issues provided for
in the reorganization Of the company.
The Canadian stocks were strong, In
response to a further increase in Cana
dian Pacific's gross earnings and gain
Of 1921, 600 in the net earnings for De-
cember Of Minneapolis, st. Paul and
Sauit ste Marie. Missouri Pacific's
December showing Of a gain of s4Si,-
900 in operating income advanced the
quotation point. Illinois Central
showed no effect Of the decrease in net
revenue in December Of $4,000. More
imam nail OF Inlb hllAluhdbS WAS H.
counted for by the increase of $3.50, 600
in operating expenses. largely owing
to labor troubles.
Another shipment of $2,000,000 gold
bars to Paris was arranged, bringing
up the total on this movement to a.
900, 900. Owing to the surplus of idle
funds here, the movement was Of nc
effect upon the market, as was shown
by the fact that time money rates to-
day were slightly easier Exploration
Of gold at this time was termed q
bearish factor, however, in its genera
significance. Usually bankers are
considering, at this season. the needs
of the interior in connection with tbs
planting of the years crops and tbs
expected, activity Of mercantile and
manufacturing interests with the APP
proach Of spring. This year the In
terror banks, instead Of holding funds
for these requirements, continue .tC
ship them to New York. Under these
conditions the expectation Of $4,000, O0t
gold has been Of virtually mo influ-
ence, and the deduction is made that q
continuance Of dullness in trade Is in.
dictated.
Bonds were duh and irregular. To
tai sales, par value, $2,71S,0QO. Unitet
States threes advanced s-S on call.