The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1910-11-16
WOULD BID PRICES UP
WITHOUT TAKING STOCK

James 4. Pollock g. Co.. bankers and
brokers, furnish tho following, received
over their private wire yesterday after
noon:
New York Sun: II looked very much
as though the traders endcavored to bid
up quotations without taking much stock
today, and In spite of all the price churn-
ing which went on, changes up 10 the
early part OF the afternoon were not mo-
mentous: indeed, somewhat irregular.
The Ili stocks and New York Central
were heavy. LehiGh Valley was rushed
up In Philadelphia on humors OF an in
crease In dividend from TO II per cent
basis. and advantage was taken to Gre
ate tips on Reading and other anthra
cite coalers. Although nobody has yet
como forward to show why it would be
excessively hulish if the Berlin and Paris
markets were officially opened to the
Hartman Pacifics. Reading and steel.
seeing how little Is. & .. and Pcpnsyl-
vana have been benefited by Berlin
quotations, nevertheless the tale of for
was worn little more thrcadhare in the
bull cause. AS for price levels, there is
no question that il measures a fair set
off of conditions that obtain now or seem
likely TO prevail in The next few months.
A higher level Will discount a boom In
the general situation. 10 say nothing Of
boom developments. a far gauge OF out
look is furnished by tho large proportion
OF OF bank loans OF an apparently fixed
and non -liquidated character
Hornblower Letter, Boston.-The cop
per shares were inclined to react frac-
tionally today in sympathy with the same
trivial. however and buying on the de-
cline was good, Traders worked on both
sides Of market but trade. as whole
was rather light Sentiment remains
cheerful and although we may get set
backs from time TO time, the best people
stu cling 10 tho long side. Conditions OF
metal market arc apparently improving
steadily and 1t is thought this will be
rnI 70 N n nf E1
Gallagher says: Business dull in out
side stocks today. Features were Ray
Con. Chino. Ely Con. and Miami, Miami
and Chino sold UP about half point. but
were sold off by traders. closing a frac-
ton above opening, Silver stocks steady.
Tonopah Belmont weak on heavy selling.
which could not be traced to any partic-
ular sources, The Tintic and on stocks
quet American Tobacco which sold eX
dividend today 10 per cent, and Standard
OIL steady and quiet;
York.-Although the personnel OF those
operating on the constructive side of the
list of late has changed slightly from, be-
fore. II may be said that the recent ac
part 10 the activity of the coterlc who
were quite prominent on the buying side
before election. II is said that prices
have been advanced in order 10 facilitate
the financing of the American Smelling
and Refining company's subsidiary, 'and
in addition the feeling has become gen
eral that the decision In the Union Pacific
merger suit. when rendered, Will be fav-
orable to the company. but the latter,
of course, is only surmlse. and hardly
to be considered logical argument on
which to advance quoted values. Small
outside interest has been the subject of
much comment and II has served to ac-
the professional character of the
trading. Do not yet feel that firm
stand should be taken on either side Of
market. despite the fact that quotations
of late havG revealed an upward ten
dency. as anything unfnvorablc is likely
to preclpitatc heavy selling movement
which the list could hardly withstand in
the absence Of public participation.
Paine, Webber &. Co. Letter, Boston
The whole market opened strong this
but the traders thought it
looked like manipula tion and hurried 10
take profits Later in the session prices
sagsed a little, but toward the close the
buying was strong and confident. and
many stocks made a new high record for
this movement, In the local list the
arket was very quiet. East Butte
opened strong. up point. one house buy
ing 1000 shares at 13s. The rally the past
few days however. has been a little too
rapid. and il has been Il great tempta-
tion to take profits. We believe tonight
however. that the market is In better
than il has been for months
and with underground development i'm
proving daily, we expect to see new buy
Ing enough tomorrow to carry the price
TO new high record. We think tomor-
row will show a sharp rise in Lake and
North Butte.