Norwich bulletin., 1922-09-07
FINANCIAL AID COMMERCE.!
MAnKEr WAS REAcTTvE


 New Yefk Sept G.. Speculative sell ing, induced bx the belief that reaction vas due on teciinicz1 grounds. caused a rather general recession in prices in fodSyss stock market. losses of Ito nearly points being quite numerous.
 There was Bttle oulsil6 news that had a direct market bearing, 41rhonEh puhh- cation Of an article in an organ of the Standard Ofl conpany of New York, h. dicatIng h0ge investment losses Of American companies operating in Mexico. caused active selling oh Mexican oil shares which we're forced down large fractions to 4 points
 Average prices In the market have showed an Increase for nine succeszipe week. II Is a sort Of tFadislon in Wal street that no speculative movement can proceed far in either diTection without temporary interruption aAd professional interests apparently fen that the ti-nf was propitious to can halt to the steady upward trend. The selling proceeded ln an orderly manner. and most offerings were easily absorbed.
 Mexican Peff6ieum moved within a ra- dias of only four points today. closing al a net loss of f-1. but dealings were quite extensive, The shares of the par ent Pan-Afherican comp4ny were foSeed down to 2 points, while Standard Oils of California and New Jersey and nsost Of the domestic issues sb5wed similar loss es
 Weakness of shipping shares probably was sccentuated by the recent cut in pas seneer rates. Marine preferred dfonping i ss-s American International f-s and Atlantic Cuff I If Equipment sBafeE siumped percertiBly after an early dis play of strength Baldwin dropped bach | f. If holr fm~ n Locomotive and Pullman after br6ab. ing through a new hiTh. receded a smal fraction below Tuesdays closing price Railroad shares failed 10 respond tc th, more favorable overnight news showing increased car loadings and d steady in crease in the number Of new shop work CTS engaged to replace strikers Losse, l of a point or more were registered b. Union Pacific Atlantic Coast Line. ca nadian Pacific, Illinois Central. Crea Northern preferred. Lehigh Valley, His seuri Pacific preferred and New Yefl l Genital
 | steeTs also were reaetionary. despite re ports of increased production in Weekl, trade reviews United States steA common sold of over point with sIfght ly smaller losses f6 CfucTble. Republic 11d vale and Bethlehem B. Gulf Steel fe acted more than points
 Stromberg Carburetor improved siight ly on anhouncemeHt of a resumption o dividend payments. Other strong spot Were American Car and Foundry. Chi cago Pneumatic Tool and Consolidate Gas at gains of a point or more.
 ts Total sales were s7s6.eo0 shares. [ Call money opened and renewed a l4 1-2 per cent. but eased of 10 { 1
 the first hour and held at that figure ur
 til the close Time money and eommer fcial paper rates continued firm.
 Forenkn exchanges were irregular. d \ mand sterling declining fractlonally O
 a large offering of commercial bill
 French francs rallied in response 10 th
 better London rate. bat eassd of slizh
 ly at the close. German marks improve T slightly. presumably on publication of r, ports outlining the plan of Hugo stinne German financial and industrial barol , for the restoration Of French devastate } territory with Gernian goods. The week. } statement of the reichsbank shower a increase in circulation Of 23 billion mark l the largest increase to date.