The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1910-11-13
EAST BUTTE FEATURE
ON MARKETS EAST

James A Pollock & Co. bankers and
brokers. furnish the following. received
over their private wire yesterday after
noon;
Paine. webber & Co letter. Boston
East Butte was practically the whole
thing in the local market today. The
. tracted buying from all over the country
There IS no manipulation, and insiders
are doing nothing to boost the price. be-
ing content TO let the market take care
OF itself confident that the future of
the property will Justify any price which
the market may make. Lake was quiet
but strong. but will probab bly remain so
until after the rights expire. We look
for continued activity, with higher prices
next week,
Logan & Bryan stock letter. New York
esting, with the operations mostly In the
nature OF evening up contracts. The
character of the buying was somewhat
better than has been witnessed for the
past few days. Some selling OF South
ern Pacific took place. in view OF the
reports TO the effect that the govern
ment would investigate the conditions
surrounding the company's acquisition OF
its California oil lands. There was also
a continuance OF the pressure. which de-
veloped yesterday in New York Central.
accompanied by reports intimating that
it would be necessary for the company
to conduct additional financing. which,
in view of the relatively poor nei earn
ings. is hardly 10 be considered a ia
NOrdble factor, we are tod lnat oe-
cision is likely 10 be rendered in the st,
Paul courts in connection with the gov
ernmcnts suit. whereby the control OF
Southern Pacific and other roads by the
Union Pacific is sought to be set aside.
The decision, when rendered, will prob
ably have a distinct influence on the inn
mediate course OF security prices. The
bank statement Of actual conditions in
dicating an increase in surplus reserve
OF nearly 5000. 600 and material re-
ouctfon in loans. was favorably con-
strucd especially as the outside insti-
tutions also exhibited a contra aciion IN
the loan account. The election results
have been pretty we'll digested, and no
doubt measures are essential to the com
mercial welfare of the nation, but still
new legislation always has tendency
TO create uncertainty so that develop
ments in that respect will bear close
watching. We arc rather inclined 10
advise a neutral attitude with regard
to the immediate course OF security
prices at least until market influences
are OF a decisive character.
Hornblower letter. Boston-Coppers
were dull, but strong, today. East Butte
was the feature and under a good de-
mand advanced about "A point, There
was little profit taking In il. but the
stock was we'll taken. Good judges are
still bullish on ooppcrs and advise buy
ing on all weak days.
Gallagher says-kcrr Lake OF Cobalt
was tho feature today, II is said here
that the insiders picked up u block of
about 10000 shares privately at around
nc and are buiuc the market TO sell
stock. High sale. u. Ray Consolidated
Ray Central, GirouX. Chino. Miami and
Inspiration were steady and without fea-
ture. TinIics and oil stocks were quiet
American Tobacco WAS off points. sell
irg from $50 TO d@7, eighty shares chang
ing hands.