The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1910-08-16
co SLOWLY, IS
THE WATCHWORD
Eastern Market Advice Keeps i'm
Mind a Few Adverse
Items.
COPPER OUTLOOK
is THOUGHT GOOD
But Unlimited Buying Is Not In
vited by Students of
Situation.

Salt Lake City is one OF the best copper
trading cities OF the country, and inves-
tors and spectators alike. who have been
pretty we'll out of the market during the
uncertain period of about six months
past, are proceeding carefully in getting
back into the market In answer to the
rather optimistic tone OF eastern broker
age advices. Several of the newer cop
pers, like Chino and Inspiration, provided
the main topic OF interest yesterday. con-
siderable strength being displayed by
them.
The consensus OF opinion from the east
seems to be that it is time for better
copper conditions, and that an improve
ment is in order. But it is not forgotten
that there are several important things
still hanging over the markets such as
the political situation and the supreme
court decisions in the tobacco and oil
cases. which may be fraught with over
whelming influences for good or bad
marketwise This careful feeling of the
way is TO he seen in nearly all the mar
ket predictions sent west Over the pri-
vate wire system of James A, Pollock &;
company on Monday came the following
market letters and comments:
Logan Bryan Letter, New York
Sentiment today was rather mixed and
considerable realizing was in progress
throughout the session. Markctwise
there was not much news of Importance
and the room traders, whose operations
dominated the action. lacked initiative.
Prominent market interests were not ac-
tive on either side, but ii was said that
the poor public response on the advance
was source of disappointment to n
great many who had hoped that the
strength displayed during the past few
days would attract good following. AS
expressed in our advices, we still incline
to, the belief that advantage should be
taken OF the bulges TO tighten lines with
purchases confined TO the setbacks
Paine Webber & Co. Letter. Boston,
Without question. the copper metal has
shall see frequent improvements in the |
price, the second advance being made |
today to 127c. We understand the buy |
ing In the past two weeks has been un-
usually heavy and that the next pro-
ducers' report will show a heavy reduc-
tion in the surplus. We are very bullsh |
on the coppers. and believe that no one
Will make a mistake in taking on all he |
can carry at present prices.
Hornblower Copper Letter. Boston
Copper shares synpathized TO some ex-
New York market and sold off from
fraction 20 over point. There were not
MANY stocks pressing for sale, but trad
ers c worked for reaction. The buying,
The feeling still remains bulish, and the
best judges believe Improvement will
come although II will be gradual. Cop
per metal conditions are improving slow
". and they feel this Is bound to reflect
later on, The close was steady but dull.
Gallagher Curb Letter New York
Outside market quiet, with good under
tone. Considerable outside buying here
today and good demand at prices Just
under the ruling quotations, Lawson
no.. RAY Consolidated bought by McCor-
nick. Ohio Copper bought by Gallagher
sold by Helnze brokers and Muller &
Nash. Glroux was bought by traders and
sold by Boston and the west Miami sold
by insiders. bought by traders, Raymond
, lsarr, Hornhlower and Boston. The mar
Set, as whole, closed very well. There
Is very little stock pressing for sale.
New York Sur.-Politics is beginning
TO attract some notice in Wall street but
as yet politics is not an apparent feature
IN stocks Todays market was more or
ess reactionary during the greater part
ol the session. II opened practically at
the level Of Saturdays close which was
Ihe highest point reached on recovery so
TAR. and then yielded to the extent of
a point 10 point and a half under mod
crate pressure. The selling seemed 10 be
largely In the nature OF realizing by trad
ers. but Wall street is suspicious enough
10 assume that large quantity OF stocks
oought on the recent collapse. either on
the exchange or outside Of It. is an avail
able supply whenever the market Is
strong enough to absorb some good SELL
ns, There was nothing in the course OF
particular stocks which seemed 10 call
Tor explanation. The afternoon market
neid rather firmly around tho low levels
of the day, manifesting from time 10
lime slight rallying tendencies London
was moderate seller Of stocks on BAL |
ance. The Laclede Gas company diyI-
fend was increased from a 6 TO per cent