The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1910-10-01
GOOD COPPER REPORT
EXPECTED THIS MONTH

James 4. Pollock & Co. bankers and
brokers, furnish tho following received
over their private wire yesterday after
noon:
Paine, Wcbbcr & Co. Letter, Boston
Rumor that tho copper producers re-
port next month would be very favor
able made the local traders much more
bullish Good buying was especially no.
ticeable I'm North Butte and Lake In
siders were working on The bull side IN
Agomah North Lake and Indiana, and
all the stocks showed a gain FOR the
day. Tho best opinion considers IL
creeping bull market and we don't see
how any money can be lost by buying
stocks at present prices. Patience and
courage will win out for the bulls at the
present time.
Logan & Bryan Stock Letter, New
iorR.-Trading during the FIRST few hours
WAS on somewhat broader scale. but
toward the end OF the session dulncss
became the feature. Aggressive short
covering took place in Amalsamatod
Copper and Smctcr. said TO be based on
the reported advance by a prominent
copper producer in it's asking price Tor
the metal. Western Union has been ac-
lively absorbed of late. accompanied by
reports 10 the effect that the American
Telephone and Telegraph company was
increasing its holdings OF the issue. but
official confirmation WAS lacking and the
impression prevailed that the buying for
tho most part was based on the satisfac-
tory progress made under the new man
agcment The easier tone Of the grain
markets had an assuring effect on sen
tlmcnt. but a great many were inclined
TO refrain from making additional com
mitmcnts In the stock market in view OF
the prospects for a rather poor bank
statement sta tomorrow: We stu feel that
Gallagher says: Ely Central was the
feature today, probably 10000 shares
changing hands from q down to 2?:
closing sales at 25c. The buying OF this
stock Is OF the best kind, traders ex-
pectcd IL To smash today TO nothing; as
result there Is heavy short interest
here The Schcftels matter looks very
bad at present moment. All the Scheftcls
stocks except Ely Central were unsal-
able. Good buying here of Nevada Utah.
Understand some deal OH whereby Ncva-
da Utah will sell at several times pres
ent price. Balance OF tho list without
fca ature.
New York Sun.-lncreased activity, all
around strength and greater dlversiil-
cation interest characterized today's
stock market Business was on the
scale of half-mllion share day up 10
the carly part OF tho afternoon and the
breadth Of the dealing was more marked
than for some time past This last
named feature was not altogether to the
liking OF the speculative community
which is apt to conjecture the end of a
movement. from the addition OF hitherto
dormant issues TO the active list. The
ow-priced railroad shares were kept in
evidence from the opening OF session. 1t
would he difficult TO tell wherein lead
crship in the market resided, AmalEa-
mated Copper was the strongest Of the
industrias and trading was most ag
srcssive. AT tho same time the upward
movement although not rapid. was per-
sstcnt throughout the list despite what
10 be a good deal OF pressure
Of long stock. C. s. o. continued its rise.
which has doubtless bccn related TO the
Development semi officially announced
today that banking interests have placed
49,
Il per cent bonds abroad.
Hornblower Letter Boston-Today's
copper share market was strong and
showed advances from fraction TO over
three points, The lake issues were the
leaders, and were In good demand There |
IS no change In sentiment, and II the
strength continues In the New York mar
tet ii Is said we Will see better prices |
IN this list. However, on extreme
strength. profits should not he over |
ooked.