The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1910-08-09
OUTSIDE BUYING NOTED
ON EASTERN MARKETS

James a. Pollock & Co. bankers and
brokers, furnish the following. received
over their private wire yesterday after
noon
Paine. Webber & Co. letter. Boston.
The Boston market continued very strong
throughout most OF the day. with outside
buying coming In very freely. Sharp ad :
vances were made throughout the list
We still think that the coppers can be
bought as the metal situation Is fast get
ting into a strong position. The Copper
showing. an increase OF "a million pounds.
The foreign visible supply was
supposed 10 have decreased about II 900
600 pounds. This should be construed as
a bulllsh factor. The government crop
report was disappointing. but think II
has been discounted, as since the first OF
August rains have fallen In the much
needed states, helping out the crop ma
terially. On the announcement of this
report stocks broke sharply in New York
but rallied toward the close. On any of
these dips would take on a few, taking
advantage of rallies 10 sell OUT.
Logan & Bryan stock letter. New York
The market advanced steadily until the
government crop figures We're published.
after which time 1t became decidedly
feverish. The street was rather Inclined
TO look for a higher condition on corn,
but the fact that the heavy selling In the
last hour was well absorbed and the re-
coyery so rapid the feeling at the close
rather inclined towards optimism cs-
pecially as weather reports of late from
the southwest have been more satisfac-
tory than heretofore. There appeared to
be moderate distribution on the advance,
but the pressure was not OF an agrees
slve character but at the same time the
short interest displayed considerable ner-
vousness. II should he remembered that
we are passing through n critical period
with regard TO the corn crop. on which
great hopes have been based and, there
fore, temporary strength In the security
markets should not be permitted to mis-
lead one, The monthly report of the Steel
Corporation, to be Issued on the 10th.
with regard to untitled tonnage, will prob
ably be awaited with interest,
Hornblower letter, Boston; Stocks
showed more strength and activity than
has been seen for a long time. Traders
worked on the long side and for the first
time in months there was a good bit OF
for sale. and although we have had con-
siderable OF a rally from the low prices
OF the year, the best judges still think
that the long side IS the right one for
the long pull, but advise caution on buy
ing after extreme advances. preferrng
to await weak days which are bound TO
come, The changes for the day ranged
from point to three points In the gen.
eral list, and although New York weak
eped somewhat in the late afternoon, the
advances were well maintained. The
closing was steady with a fair demand.
New York-Gallagher rays; Miami.
Giroux, Chino and Ray Consolidated were
the curb features today. Miami on man
ipulation and covering OF shorts. sold up
to 22a and closed at 21a bid. Giroux was
active and In good demand. selling up 10
6 1916. and closing at s.! bid The Scher-
tells stocks were strong and there was Il
much better demand for the better class
OF stocks. and I look for higher prices all
along the line in coppers Kerr Lake was
very weak on report of poor earnings, SELL
ing down to 6s