The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1910-12-03
BEARS RAID EASTERN
MARKET ON FRIDAY

james A. Pollock a. Co. bankers and
brokers furnish the following received
over their private wire yesterday after
noon;
Paine. Webber &: Co letter, Boston
The bears were active again In New
York, and prices sagged gradually lower,
bringing out liquidation OF long stocks
and catching many stop orders. In tho
local list. the buying was better and the
selling was also heavier. A very unfavor-
able report of the Utah Consolidated di-
rcclors caused sharp break in that
stock today TO 12b. with only a feeble
rally. Superior & Boston was also weak.
but the selling was due entirely to forced
liquidation and not TO any unfavora bll,
news from The property. on the con-
trary. we are assured that the showing
at the mine is better than ever. As soon
as the first liquidation was over and
stop orders were out OF the way there
was no stock for sale and Tic close was
strong. The immediate prospects are dis
couragng and We cannot expect any ral-
ly in tho local coppers. We believe they
are inirinsically very cheap and We adj
wise courage and patience in holding them
for the reward which will surely come.
Logan & Bryan stock letter. New York
The stock market displayed very little
rallyins power today and the fact that
the greater part of tho selling was con-
Quoted by commission houses seemed TO
lead TO the conclusion that outsiders were
beginning 10 liqudasc In volume. 4 rather
unlaVorabe feature OF late has been tho
comparatively small Investment demand
as iUc same uSi.1!lN eNcrlS ltScH after
prices suffer j substantial decline The
selling OF Amalgamatcd and Smelter was
based on the talk TO the effect that the
copper producers report 10 he published
noXt week is not likely TO make as good
a showing as last month, and In connec-
tlon with the pressure on steel IL was
said that quite 4 few plants are likely
10 shut down I'm the near future. The
fact that the prospects arc remote or
federal Incorporation laN being put
through AT the forthcoming session has
disappointed n great many who antlcf-
Dated that whcN the passage Of same be-
csme n reality that there would he "A
noticeable decrease in the agitation
against corporations. and doubtless tho
foregoing has hnd Its effect upon those
would he able 10 discriminate between
what corporation is or Is not likely 10
he attacked for.
VIC indicated In dispatches today tha,
tho selling should not he pressed on the
declines. for despite the fact that the
general tendency still seems downward.
n should be hornc In mind that ocra
sional rallies usunlly result from either
tho rendering of support or from an oser-
sold condition. II is our desire 10 direct
attention To the forthcoming message Of
the president. which IN tho Wow OF his
reported impartial interviews with repre-
sentative business men. may he of such
character as to change tho aspect ard
result in stimulating confidence. Trade
reports and bank clearings indicate ir-
regularity and uncertainty and Nc do not
believe that haste conditions have changed
20 an extent that would warrant tho ad
Vncacv of purchase Of securities rNccpt
perhaps for moderate profits.