The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1910-12-16
MARKET SAV0RS OF
PROFESSIONALISM EAST

James A. Pollock & Co. bankers and
brokers, furnish the following, received
over their private wire yesterday after
noon:
Paine, Wobber & Co. Copper Letter.
Boston-Buttc Coalition and Lake Cop
per were asain the strongest and most
active stocks on the local board. Butte
and Balak. holds compa ratlvcly steady,
there being no new Developments In the
Anaconda suit and mono expected unill
the first hearing December Is Lake Is
certainly being accumulated at this level
and - in grand position for a sharp ad-
vance ns soon az the general market
turns. Buy Lake. Range. East Butte,
VERNE on all weak days.
Logan & Bryan Stock Letter, New
iork-'rhe market displayed firm Un
dertoue during the greater part Of to-
days session. but In the last hour looked
vcry much as II the buying had run
its course. and when attempts were made
10 sccurc profits prices receded easily.
The New York fractions and Western
Maryland were the features but did not
attract much outside response. In fact
operations throughout tho day savored
of professionalism. Tho recent activity
In the InterborouCh issues said to be
based on tho expectancy OF that COM
Dany through It's subsidiary, the Inter
borough Rapid Transit. securing con
tracts and grants for subway extensions.
but II success should he met in that re-
spoct tho means by which additional
funds would he raised would greatly de-
terminc whether or not the Issues of the
company are 10 be considered as at
tractivc around prevailing levels. so that
feature should be borne in mind. 1t is
cStimated II would take about Ave years
10 complete the extensions and in the
interim the increased fixed charges might
become burdensomc. IL was felt In some
circles that the investment demand in
anticipation OF January disbursements
would assert itself at this period hut so
far the same has been OF a dcsuItory
character and of elffirrpt
tion TO affect the floating supply of
stock.
Trade reports continue to indicate ir-
regularity. with collections in some sec
tions rather slow, and although copsId-
cradle talk is heard OF an improved de-
msnd on tho part OF railroads in the ma
ture OF 1911 requirements. still the con-
ditions under which such orders have
been placed make IL appear that the
margin OF profit is likely TO he smaller
than heretofore. VIC continue TO feel
as indicated In recent advices that a
sustained advance In securities prices is
not probable at this time. although ad-
mittcdlv professional operations may
force occasional advances. Would con-
tinuo 10 adhere TO the policy Of tighten
ing accounts when opportunities arc af-
fordcd.
Hornblowcr Letter. Roston-Coppers
were duh. but maintained strong un-
dertonc again today. with buying linn
ited but of a good character. Traders
did very little. but worked on the long
side mostly. Changes were from a small
fraction TO over q point better than yes
tcrds~'s close. There is not much II
any chance for more than a traders
market At present, but II is believed that
on dips coppers can bc safely bought
Closing was steady but dull.
Gallagher Now York. saws: Weak
ness Of American Tobacco and strength Of
lntercontncntal Rubber features. Big
buying OF Rubber by stock exchange
houses caused sharp advance OF nearly
= points. Copper stocks dull. closing
fraction off from the opening. Tho Tin
tics. Touopah and Oil stocks also dull.
No improvement here in general busi-
ness.
New York sun says. Further rises in
the stock market today with carly
flourish OF aggressive activity failed ap-
psrcntly 30 inspire enthusiasm for bull
side or TO intimidate such short interest
as exists IN tho market. In tho last hour
stocks sagged quietly bcloT tho level OF
last nights close. Tho governments final
report on cereal crops Of the year re-
duccd the previous corn estimates. but
still left the yield at record breaking
total