The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1910-06-30
SWING DOWNWARD is
NOT YET TERMINATED

James A. Pollock e Co.. bankers and
brokers, furnish the following. received
over their private wire yesterday after
noon:
Paine, Weber e Co. Letter, Boston,
The market was very active today at the
lowest prices yet seen on the down swing
and there was important liquidation on
a tremendous Scale. An unfavorable piece
OF news was the several decisions by the
interstate commerce commission In west
the rates in all classes, where it was ex-
pected that more favorable decisions
would be made. This, no doubt, foretells
reductions In dividends and wages in
the near future. 1t becomes more evident
each day that the large interests are
more dissatisfied with the future outlook
for legislation against railroads and
other corporations generally and big
traders are gradually getting out of the
market. Do not think we have seen the
bottom yet
:. LOGAN s. Bryan Stock Lettet: New
York.-It was feared yesterday that the
action of the market indicated something
under The surface which was likley to
appear at almost any time, so that there
sion decision in the western rate cases
today was considered one of the factors
accounting for the change in attitude on
the part OF large market interests. The
recent agreement between the packers
ana the railroads a: one time was thought
TO foreshadow similar action by other in
tereStS. but today'S developments entire
ly changed the aspect of affairs, aud il
renee which. for the most part: actuated
the rather heavy selling. The fact that
the existing rates under discussion in
most cases were declared unreasonable
and excessive" by the commission, was
rather discouraging TO railroads will not
be Strcwn with roses In so far as their
efforts to receive larger revenue from
the above sources. The market was un-
der heavy pressure throughout the ses-
sion, and at times presented demoral-
lied condition. with aggressive support
being absent and pronounced desire on
the part OF holders OF securities TO lqui-
date as rapidly as possible. We advise
great caution on the long side OF the mar
ket.
Post G. Flagg Stock Letter, New York
Prices are undoubtedly weak, but
buyers are scarce, and those who are
out of stocks arc very glad OF 1t. and
those vino have thcm are confronted with
losses and naturally are Respondent. AL
together 1t IS very depressed time. and
when liGuidating E1ove,aent like the
present is cn, it is hard II predict just
when il will TN its course. Prices are
intrinsicaliy cheap. but there Is very lit
tie 10 encourage and bull sentiment at
present time.
Boston.-Coppers suffered Considerably
through forced liquidation and with sym
pathy with the break in New York stocks.
stop loss orders were reached in all
OF fror, ] to POINTS. Traders sold heav-
lily and the demand was only fair. AS
long as the depression continues in New
York little can be looked for here
New York.-Nevada Hills entirely
traders market. sold down TO Sl.56; most
OF the traders were long stock, market
In bad shape and selling order OF any
size would cause bad break. Williamson
bought Goldfield Cons. up to 9i; traders
afterwards sold stock at 9s now 9@9s.
The buying of this stock is much better
than the selling, Ohio Copper-only 200
shares sold all day at l 1916. the
Heinze people are showing absolutely
no interest IN this stock. Two thousand
shares OF United Copper sold down 10
A. This looked like liquidation OF loan
Chino sold from IL down to l0t, Hay
den Stone was the seller. Halle & Steig-
litz largest buyers.-Gallagher.