The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1910-10-29
MARKET IS SHAPING
FOR ANOTHER BOOST

James A. Pollock g. Co. bankers and
brokers. furnish the following. received
over their private wire yesterday after
noon
Paine, Wcbber & Co; letter. Boston
The bull leaders took hold again today
III New York and marked prices up
ossily, Stcel common. selling at n new
level OF Sos OIL the move. Considerable
liquidation appeared around this Lowell,
however. and the whole mar kct SUI
covered gradually. and at tho close was
~ a, healthy condition for a renewal OF
the upward course. Locally. Copper
ltanSo and North Butte were tho strong
active features OIL talk OF higher prices
for tho metal and another heavy de-
crease In surplus supplies in Noyem-
per Produ2crs association report. we
believe In buying coppcrs on all setbacks
Tor much hiShor prices
Logan & Bryan stock letter New
norkHTherc was resumption Of bullish
activity during tho first hour Of today's
session. but Judging by the subsequent
action Of the market considerable stock
was distributed on the carly advance.
various bull pointers we're In circulation.
crease i'm the outside demand but IL was
rumorcd that several large operators who,
OF late wore rather conspicuous the
long Side had materially reduced their
iossional character Of recent trading
has been tho subject of adverse COM
menf, especially in view of the reported
heavy loss Of cash holdings sustained by
also the prospects for rather unfavor-
able bank statement tomorrow re-
versal OF position on the part OF great
many who have not believed in the re-
cent activity on the upside was reported
Today, and, in addition. good part Of
me short interest that existed at the
close last night was said to have been
eliminated on the rise. Market informa-
tion al present seems OF such a conflict
ing nature that IL would appear to be
the part OF wisdom to await something
Velopments before becoming actively COM
mittcd either way.
Gallagher New York. says-Curb
steady and quiet, Morning session hold
solidated. Chino and Miami sold off A.
fraction Traders bought Cobnlt Central
on report that there would not be any
tnreclosnrc. tin as Was expected for some
tImc' American Tobacco up points
-. HornbloNer q Weeks letter. Boston
The market assumed a waiting attitude
today and changes were rather irrcgu-
lar. There were not very many stocks
offered but. on the other hand demand
was rather limited Traders did very 1T
Tie either way. They seem TO want 10
Waii ana sec II reaction in the Now
York stock market is coming. but tho
feeling on this is mixed. Tho best Judges
sun maintain that We will see a much
better level and arc advising purchases
" ''i.I'NtI WEAK Spots offer the oppor-
tnnity, Closing was weak and steady
New York Evening Sun says-Thc
stock market was reactionary today and
prices declined rather sharply after some
SHOW OF strength in tho first hour. Steel
touching 500. the highest reached on the
present movement. There was heavy
seilnE or the speculative stocks which
unsettled the whole list Very little sup
port and market partly left to Itself |
Inder This Influence trading was quiet.
WIN recovery later Sterling exchange
broke sharply before the close on heavier
niterinss OF bills from various sources
'eVclopments abroad indicated that |
money Was becoming somewhat easier In |
Iiuropc, and there was nothing In the |
SITUATION To suggest a further advance |
n n the Bank of England rate next week,
'ofeiEn markets r1Iled fairly firm. with |!
very little Investment support 10 the |
movement at London. II particularly be- /
nG governed largely by The Operations |
u traders here Late in the day somo |
" the banks put up their rates for time
money; especially for loans extendipp |
hrough the December settlement perioJ
'rices improved slightly at tho close
mo the stock market closed quiet and
irregular a"u