Norwich bulletin., 1922-12-27
A Bulletin For Sale
 Advertisement Will Sell N
FINANCIAL AND COMMERCIAL
MARKET WAS STRONG.

New York, Dec. 26:-Stock prices gem orally exhibited a firm tone at the begin ming of the closing week of the year. Ex- cept for an advance in crude oil prices in the Wyoming field, there were no partic- ular outside news developments 10 ac- count for the rise. the buying refiecting speculative confidence in business condi- tions during the first part of next year and aggressive pool operations in special shares.
 Studeoaker was one of the individual features. establishing a new peak price for the year at 140 7-s. but reacting half a point on profit-taking. the net gain on the day being 3 Is points. Buying of Studebaker and other motor shares ap- parently was in anticipation of increased sales following the winter shows which begin in this city next month. Stude- baker sells ex-diyidend 25 per cent. In stock on Friday.
 New high records for the year also were established during the session by Pond Creek Coal. which Is negotiating with Henry Ford for the sale of some of | it's Kentucky coal properties: Stewart Warner Speedomotor. Stromberg Carour7- tor and Endicott-Johnson. buying of the last named being attributed to expecta- tion of a stock dividend early next month. On the other hand. Marine pre- l ferred. which recently cuts it's dividend Tn half. established a new low record al 43 If. as compared with the years high of S7 3-S, and closed at 4 1-4 for a ne; loss of 5-4 points.
 Baldwin was bought heavily on specu- lativa expectation that the yearly repo7 | will show the common dividend fully earned and sizeable sum carried to sur. plus. The stock touched 136 3-a a new high on the movement. but reacted to lSl 7-S on proft-taking. Stromberg Carbure
 tor closed nearly points higher, an
 nouncement of a proposed 100 per cent
 increase in capital and declaration of
 stock dividend being made after the mar
 ket ciosed. Otis Elevator dropped tw,
 points on official denials that the com
 pany proposed to split up its common
 shares on a four-to-one basis. American Sugar stocks were strong de
 spite announcement of a cut In the re fined product by some of the larger com
 panies. gains of 7-S points each beinl
 recorded by American Sugar and Amer
 lean Beet Sugar. Higher rcices fo
 Wyoming Crude Oil found reflections i gains of 1 to nearly points in Pacifi Oil. Phillips Petroleum. Standard oil q California, Cosden and Producers an } Reflners. California Petroleum droppe r nearly , points
 Some of the other individual sieon , spots were Burns Brothers A. Chicag 3 Pneumatic Tool. General Electric Pigr
 ly-Wiggly and Wells Fargo. the gain
 ranging from 2 to points Fisher Bod
 broke 10 1-2 points on short selling an . Allied Chemical yielded I-s in respon, : 10 speculative disappointment over n
 failure of the directors to increase tf ! regular A annual dividend rate at {,
 days meeting
 Rail shares moved in a conflicting maj her, Reading. New York Central ar h Louisville and Nashville recording mol e crate improvement. while St. Paul con |, mon and preferred and Lackawanna we 5 reactionary the last named droopir ! nearly 3 points. November eanint statements published thus far. with Il f execution of Lzckawanna, compared f i vorably with those of November of Ia e year.
 f Call money opend at 1-s per cer Il but advanced to during the noon no, . and thence to 1-2. where it close
 There were no changes in time mon.
 and commercial paper rates. business
 each being dull. With the London ma
 kets closed because of the Boxing ho
 day, business in foreign exchanges ", r, quiet, with no important changes rateS