The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1911-09-28
WILD SCENES UPON
EASTERN MARKETS

Paine Webber & Co. Boston.--An-
nounccment by the steel company that
they were not operating I'm violation Of
the sherman law. and that they would
fight the case to the finish. together with
official announcement Of settlement Of
the Moroccan affair. caused shorts to
cover end stimulated considerable gen
eral buying AT the opening. which was
years. Immediately inter the opening,
however. stocks we're supplied in vol
ume by the hig interests. who checked
the decline In the past day Of two and
tho market settled down i'll tho same
old position again with large short
Interest eliminated 50 that Mt the close
for any sustained upturn The coppers
advanced sharply in sympathy With the
New York market aud held their gains
remarkably well. considering the reac-
There was an exceptionally good de-
mand for Copper Range. Lake, North
Butte and Eas, Butte. We see nothing
in this market but 10 take quick
trading position, taking advantage OF
sharp drives with the idea OF selling out
on TO point advance.
Logan g. Bryan, New fork.--Confinence
WAS greatly restored as a result Of is
suance OF statement Ia connection with
the steel corporations attitude but The
opening prices were ut such relatively
high range that realizing on broad
scale was attracted and. therefore, TN.
initial advances practically marked the
highest prices during todays session.
There was n continuance Of liGUida tion
on a broad scale in selected issues. such
as in Atchison. st. Paul and Wabash
shares and bonds which served in great
part TO undermine the balance OF the
list. In addition there was doubtless a
goodly portion OF that stock which WAS
recently purchased In order TO prevent de-
moralizaton.
The news relative To the labor sitia-
tion was rather conflicting and the ad
vices from abroad denoted that the for
egn markets were still susceptible 10
political complications, The sltua tion TO
our mind has been greatly clarified by
recent occurrences, at least 10 An extent
that would warrant purchases OF standard
Issues on the downturns for investment,
but as far as general trading operations
arc concerned II may be well to safe
guard purchases. as the element operating
on the selling side have met with such
pronounced success that there doubtless
will be Witnessed selling movements
OF an unsettlng character,
Gallagher Letter, New Sork.-Tonopah
stocks holding firm here, In spite OF con- con-
around 80 the short interest having
failed 10 force the price lower Amer
lean Tobacco sales at 300 and 400 Porcu-
made made in regard 10 dividend paying silver
stocks which include Mckinley, Beaver
and Temiskamlna, II has been reported
that the next dividend on Mckinley Will
he IA per cent. II paid this VIII round
out 100 per cent paid in dividends on
the company's capitalization Tintics
steady and dull.
lIornblower Letter. Boston.-Today s
Boston copper market was rather irregu-
lar Changes were trifie better. The
buying, although rather limited, was OF
a pretty good sort. The feeling here Is
much better, but most people believe that
coppers have been thoroughly liquidatcd
and that on extremely weak days should
hc bought but at the same time they
believe 1t Will he n long time before We
see very high prices,