Norwich bulletin., 1922-11-01
FINANCIAL AND COMMERelA..
MAAKHr FLuoruArEp.


 New York. Oct. sl.-stock prices moved In a conflicting manner ln to- days market. rehecting the play of .op. posing speculative forces, but short in- terssts finally obtained the upper hand and again succeeded in forcing shad- Ing of quoted values. losses of l to 2 points being quite common.
 Opening prices showed a better tone and indicated a relaxation of profes- sioual pressure but the failure of the directors of the Studeoaker Motor com pany 10 declare another extra dividend On the commbn stock provided an ex' euss for another bear attack, which was aided by a heavy liquidation in domes- lie oil shares, apparehtly' the closing out q weakened speculative accounts. siudehaker registered a net loss of 1-4 points on the day. .s., -
 While the, quarterly report of the United States Steel corporation was disappointing to many traders, who ex- pseted that the dividend on the common would sbe~ earned, the showing, in view yf the fact that it covered the worst period of, the coal and rail strikes, was ;onstrded- hs ain indication that the steel lnduStry was on the mend. The bal iaes of 'st1.31s,0sS applicable to divi- lends showed that the corporation 'arped all the ss.S64. .s1s necessary for he pteEerred' and all but St.33s.so2 of he ss,35S,7S1 needed for the common. U. 8. Steel common closed at 1o4 .T-s E net gair Of Is. after having touched l0s 1=4 during the day. Other steel shares were Inclined to weakness, Lack. lWanna dropping 2 points; Bethlehem F. f s-4; Midvale,. 3-S and Republic i-s.s Cfucibls was unchanged. and Guls States was frsctionally higher. y-
 Domestic oils weakened in response to a sharp bFeakt in Pacific Oil which reEsstered. a net decline Of 1S2 points Losses off nearly points were sus- tained by Associated, Coscien and Tide w1tes' oiis; Phillips; Petroleum and Ereaues.s and .Rsaps1s., Foreign oils also were heavy. Standard CT ot New Jersey SzlHng back 8 1=3 points Gen eral Asphalt common and preferred, ] t-4 and g. points, respectively, and Mexican Petroleum '.
 Equipments slipped back in the fac: 5f further amour cs:nen:s ct huge or dsrs. Baldwin dropping ? 1-2 points American Locomotive 1 1-S and Ameri San Car l 1A4- e Changes in rail share! were mixed. a four point drop in Dela ware and Hudson and loss of 3-s IT Northern Pacific being @the two out Esanding features in that group.
 May Department stores vas the In sividuai feature. being pushed up for :: ret gain of 8 i-2 points on rumors of ; stock dividend at the next meeting Some of the individual weak spots wer Adams Express, American Steel Foun sries preferred. American Sumstra To Saceos Atlas Powder. Pressed Steel Ca preferred. Remington Typewriter United Retail Stores and Woolworth, al Town ? 1-2 to 8 1-2 points.
 Total sales were i,oss.ooO shares.
 Gail money opened at five per cen and then advanced to 1-2. holding a hat figure until the close. Stiffening 0 lhe rate was due to the withdraws from local banks of s13o00,o0o in gov srnment funds and the calling of loanI
 Time money was quiet with no chang h fates and asfairiy good business wa aone In ebmmerclAI paper with tn best names selling at 4 12 per cent.
 Covering. of . speculative commitment and improvement in the Italian pol!ti cal situation resulted in a fairly goo recovery In continental exchange rate the volume of business being. quit hfEe. Sterling held steady aroun &l.45 1-l, there being q noticeable d ereass h thA. volume of commsrci: blils due partly to the high price ( cotton restricting the export tnoveIne1 so the actual requirements abroad.