Norwich bulletin., 1922-11-23
FINANCIAL AND COMMERClA.
l. .1rARKEK RAe PRoTRssIoNAL.

.tNsI York. Nov. 32.-Speculators for tRSS decline agatn rode on the top of todiyS stock market, bringing about rosre extenSive liquidation of long stock and haInneemg prices down to s points. TfadinG rwas asSAn largely In the hands of pRofessionals but some of the selling eatnei !, from ,distll lusiOn4d small operators ans. Investors who had bought recently h. the belief that, a turn for tho better vas immInenz- .t., s.s,, .,<... :, -s.,-:.
 Hniiroad shares, which heretofore had no been liquiiated as freely as the in- estftA1s, proved more vulnerable to- day, nDnsdivi6ent paying stocks being es- bet4iaIly weak in the afternoon reac- ttpn.. .1 sSE Aliouis-san Francisco. preferred bfGke below S6 for net loss of more thhn five points, but rallied to 36 at the cle6e. Baltimore and Ohio dropped neEes than [ l-3~ points. selling pressure basag. influenced by President Will lk}d's declaration that the shopmen's strike cost more than s1e, 900 900. and tho Animation that the prospect for a re- 6Strnptlon. of dividends this year was nonR too bright Expectation of an early re- ezrption of dividends on St. Louis So1thweetern preferred sent that stock goRrtng to 5s for a net gain of nearly points. the common improving fraction z. Investment issues also fell under the Welkht of the selling movement, Union PaEhc preferred yielding nearly l 1-3, IhiIe .losSes of a point or more took plaSe tn New York Central: Chicago and Eofthwestern common and fFefered, 0elaNare T& Hudson, Great Northern pre- fe9fed and, Northern Pacinc, the last AAmed gagS1nG' 2 3-S., -'
 Epplktde news developments were large iX favorable These Included reports shpWtng the. steel industry to be oI'- etHtlng at 30 per cent. of capacity, af1- H6uheetnep of Additional, stock or in efAasec dividends and preliminary fig dfes4 on October. foreign trade show lRE exports, of 3372 2,00o, ,O0e. the largest to date as compared with $317.000, 900 In tie preceding month, and $303, ,000, 900 in Ah61ist. ;..E ...
 2sleef, shares, offered little better re- sistancec although United States Steel 6ihuion broke below 103 and then ral- lie6 10 ,1O3 S3-s for a net loss of. 7-9 Calf States. Steel yielded 1 1-2 but re- eeeslcns in De.hlehen B. Crucif'le, Lack tWArna and, Republic were limited to a p0lht and less. s
 baldwin. Studebaker. Corn Products and General Asphalt all fell to-, points while Pan-American broke 3 1-3 and the 8. 2 1-l American Cotton, Oil es- tAklishedr a new low 1922 record at IA .3-4, closing at a net loss of nearly three points, ana the preferred receding near Es5 points, In reflection of, speculative disappointment over the last annual re- pof& z.
 : Some of the other outstanding weak spptS were American Ice, American Ex- pfoas, Barnett Leather, Famous Players Knssge. Mexican Petroleum. Otis Eleva- tor, LUrfllard Tobacco, Standard Oil, of New Jersey. and Woolworth. the losses re4glng from 8 to s points. There were a few exceptions to the dcwnwsri trend, Continental Can being Rushed up nearly q points to 103 IA, 8 neE high record for the. year, and Ster. Ing Products establishing a new peak price at 6i If in response to an extra dlviSe of f5 cents. American Bank Note. also at a new high. Eikhorn Coal Consolidated Gas, and South Porto Ri. eAn Sugar were other outstanding strong ap0ts 70 .'. =
 Can money held steady at per cent hPoughort the day. Time money loans vefo made at 5 per cent. for all rnaturi ti6s, only a limited amount being availa. hIe for lending purposes Commercial payer trading was moderately active with no change fn rates. F
 Foreign exchanges opened easier anC 1hen rallied, demand sterling getting ul tc S4.4S 1-2 and French francs to 7.2S Canadian exchange sold at a slight dis sount for the first lime since the latter 5art of September.