The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1910-11-12
ADVISE TO OPERATE
ALONG QUIET LINES

James A. Pollock & Co. bankers and
brokers, furnish the following. received
over theii private wire yesterday after
noon
Paine Wcbber & Co. letter. Boston
The artificial nature Of the drive at the
market yesterday was shown by the eN
York market were almost $1.5o0.00O yes
terday and today they were hardly one
third Of that. The local market acted
especially well with East Butte the IA
vorlte. The reports from the mine are
daily more encouraging. One OF the
prominent commission houses has lust
sent an engineer TO the property and he
reports that IT is the purchase in the
Snttc camp. The majority OF the cop
pers were dull. but strong. and we should
have a renewal Of the upward movement
next week.
Logan Bryan stock letter. New York
Price changes for the most part dur
ing today's session from last nights close
were not material The pressure directed
against New York Central was a fea-
turc OF the trading and for a time served
to undermine tho balance OF the list
There was some talk OF financing by the
company, but the decline primarily ap-
pears to have been due 10 the eXccu-
tion OF liquidatinC orders on a relatively
narrow market, Southern Railway is
sues were conspicuous for their strength
which was thought 10 have been induced.
for the most part, by The secret decision
OF the interstate commerce commission
sustaining rate advances In part OF the
territory which the road traverses. Pre-
liminary estimates indicate a rather mod
crate loss OF cash by the New York
banks this week compared with that OF
previous periods. and the recent Huui-
da'ion in the stock market will no doubt
bc reflected by a material reduction in
making tomorrow's bank statement sat
isfactory, The official announcement Of
the new financial plans Of the Smelters
Securities company did not cause much
N htl < n an It,f snDp1
some support in the issues OF the parent
company There does not seem to be
anything in the immediate outlook to
warrant the expectancy OF sustained
upward movement, and we would there
fore continue 10 operate along conserva-
tive lines.
New York Sunless violence in ar
tivity and for the greater part of the ses-
steadiness OF prices. differentiated the
stock market from yesterday In fact
business was at times on about half the
sales OF mid week dealings and what
ever selling took place was absorbed
without much dctriment to quoted values.
Wall street jumped to the conclusion that
post election liquidation had been com
pletcd and that the bull cempaigners had
once more taken charge Of tho market
&. e. Q. made a brilliant exhibition %!
strength. but most OF the
stocks contenled thcmselves with very
modest gains until we'll into the after
noon. New York Central was notably
heavy Little or no incentive came from
London.
Gallagher saYs-Ray Central aud Tho
Iumne were about the only features dis |
playing any strength today. strength in
Tuolumnc was attributed to renewed ru-
lnors OF settlement Of the trouble with |
North Butte interests. Balance OF cop
pers steady and without feature Ely |
Central down 10 lie. Near the close Kerr |
Lake sold up on good buying by stock |
houses. American Tobacco was
off points.
ilornblower letter Boston-Althouch |
there Was not much activity today. cor |
pcrs were strong and recovered most of |
yesterdays losses. Tho demand was
rather limited. East Butte was strong |
and advanced To lIic. We may get set
backs. but good people arc buying il for
2 good pull. Scntimcn; remains bullish |
on CoppcrS. Close steady.