Norwich bulletin., 1922-11-02
FINANCIAL AND cONNERGH6{|'
srocK prIcrs pro1,1Nr.


 New York. Nov. l.-Prtces in to- days stock market continued to decline, but there were indications that the cur- rent reaction was nearing an end.
 Buying on the belief that the liduda- ton had run It's course imparted strength to a number of shares at :he opening. but spectators for the decline launched a heavy attack against steel and exicau oil shares, which again un- settled the list.
 The raid against steels was based on the comparatively small earnings of the United States Steel corporation for September. which totalled only $T.727.- 72l as against $l1.324.059 the month before. but bull interests pointed out that the decrease could be explained by the fact that, September was a short month that freight car shortages and embsrgoes had held up shipments at the mills and that price advances t0 counterbalance the September wage ln- crease did not become effective until October 1. U. s. Steel common crumbled to 1oS Is, a new low on the movement. but later rallied a point for a net loss of s-4 under last nights close. Bethlehem D was down more than points at ono time but recovered all but one. Cru etble, Lackawanna Republic and Va- nRdiura' also made good reeoveries after early manifestations of weakness.
 Resumption of dividends by the Ma t!onal Enamellns and Stamping com eany had a beneficial effect on thai Etock, which scared more than -1-3 points. Other constructive news fea- lures were the passing of the 1oo0.oao mark in weekly car ioadings and tho declaration oS 90 per cent stock divi- dend by the National Sugar company and 40 per cent stock dividend with per cent extra n cash besides the regular per cent quarterly dividend on the common stock of the Standard San ,tarv anufacturing company.
 Mexican Petroleum enly 500oe shares If which are now reported to he out standing in the hands of the public was again subjected 10 professional pressure suffering a net loss of ? points while Pan-American R. after having dipped 10 s3. closed at s6 for a net loss of i-E. Standard OH of New Jersey again dIsnlayed marked strenrth. climbing s points. and a better, tone also was noted in Standard oil of California aud Pacific Oil '-
 American Can was one of the strore features. gaining 5-1-2 points as a re, suit of brisk rally in the final hour May Department Stores. which gaine d l-2 points yesterday m eXpeCtatlOn Ol an extra dividend disbursement, added 12 more today.
 Acute weakness of Pierce Arrow pre-. ferred had an unsettllng effect on otac, motor shares in early dealings; hII good buying power developed in Studa baker and Chandler, which carried those stocks 1 and ? points. respec lively. ahove last nights final figurs, Fisher Body. which recently enjoyed :: sensational advance, slumped nearly four points. today. ,-.. ..
 Heavy professional pressure -agains equipments forced the liquidation o some speculative accounts and Carried these stocks down several points. 5u they recovered most of thel- losses be fore the close. American and Baldwin Locomotives Showing only small frac t!6nal declines on the day Trading i! rails. vas sluggish. but Louisville ant Nashville, Lake. Erie and Western, Dei aware and Hudson and Frisco" pre- ferred were quite weak.
 Total sales were 1.126,o6o shares.
 Call money opened at five per cen and then jumped to six where 1t chased The. time money and commercial pape markets were quiet with no change | -ateS. .
 Trading in foreign exchange wa Iuet because of the AIl-Satnts holida, observed abroad Sterling held stead 'rcund $445 12 and the contInen:a 'ates were firm.