The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1910-10-22
SHORT INTERESTS ARE
WELL ELIMINATED

James A. Pollock & Co. bankers and
brokers. furnish the following. received
over their private wire yesterday after
noon:
Paine. Webbcr e. Co. letter, Boston:
Speculative enthusiasm was slightly less
iooay. probably due to the fact that II
is tho end OF the week and the traders
are evening up contracts There is no
change In the situation except that the
short interests have been largely cimi-
mated. Among the local operators spec
ulation Is still AT a low ebb. but conf
dencc Is gradually retVrning and each 4
advance in the price OF the metal brings
IN new buyers, We look for a continued
strong market in the local list and think
any class OF stocks. as the metal market
has at last resumed IA normal condition
and Will gradually strengthen from
now on.
Logan & Bryan stock letter. New York
The stock market was strong during the
carly trading today. but later became re-
dictionary and closed at practically the
low levels, but the tone could hardly be
discovered as being weak, Shorts have
covered quite freely during the past few
sessions and in view OF the recent SUBJ
stantial advances. the action of prices to-
day was only 10 be considered natural.
Moderate distribution has been conduct
cd on the upturn and shortly after open
ing We sent out advices suggesting that
at least part profits be secured, as a lull
in the buying was noted. Considora bio
dissatisfaction was hoard relative TO the
probable showing in the Steel corporation
for the coming quarterly report. which
II is expected will be mado public next
Tuesday. and preliminary estimates place
the earnings at about S37. 600. 600. The
foregoing did not have material effect
on sentiment. il is not thought that
the report will influence either the price
OF the Steel issues or the general market
very much AT this time. II being known
that the industry has been depressed for
some time. The usual week end realizing
on evening up OF accounts may induce
further irregularity tomorrow but as
stated on various occasions, we don't feel
that the amount OF stock disburscd has
been Of sufficient proportions TO rctard
tho upward movement.
Gallagher says Copper stocks not we'll
supported. all closing off from opening,
profit taking in Nevada Utah caused
stock 10 break 10 l 5-l6. Jumbo EXtcn~
sion and Nevada Hills up a fraction. In
the Tintic stocks Sioux Consolidated a
feature, being 80 bid. with very few sales.
The market seems very bare OF stocks.
lndustrials and balance OF mining stocks
steady and without feature.
Hornblower letter. Boston: Considerable
profit taking was in evidence throughout
the Boston copper list today. Some OF
the issues that have been tagging behind
were taken hold OF and advanced by
traders. Feeling on floor seems that after
the rise VIC have had the market Is go
Ing Into a position where there are two
sides to it, and some OF the best Judges
having been instrumental in the late ad
vance. took profits freely today, saying
that reaction would benefit the techni-
cal position of the market Sentiment is
little mixed at present, but on any re-
action stocks can be bought on scale
down.