The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1911-11-30
EXPECT COPPER TO
REACH STILL HIGHER

James A. Pollock 6 Co. bankers and
brokers', furnish the following. received
over their private wire yesterday after
nom:
Paine, Webher & Co. Bostor-The. ad-
vance In Hancock was the feature Of the
local market today What is apparently
a rich, vein has been opened on
enough work has been done TO
identify It. The buying Of the. stock
came principally from the lake district
Live Oak was also notably strong.
North Butte was slightly better, with no
news from the property yet. East Suite.
Franklin. indiana and Algomah were un-
changed Reports from the metal mar
advance In the price of copper is pre-
dicted for next week.
Logan & Bryan, New York-Market
during to1ay.s session appeared TO be
political agitation. \ prominent operator
was credited with having sold $4,000
steel Yesterday and about tho same
amount today. but judging by the ac-
tion Of the market the same could hardly
have been in the nature Of genuine lidui-
dstion, or else i might be said that the
offers were very well absorbed. Appar-
entity efforts have been made 10 foster
an expansion OF the short interest 3pd
thus strengthen the technical position OF
the market. but while selling for tho
decline was In progress rather more than
the usua1 amount OF runors were cir
culated in an effort 10 explain or give
the cause for weakness in selected is
sues. The decline in American Teie-
phone was accompanied by reports OF an
early government suit; that In New York
Central by talk OF large bond issue:
that in the Coelcrs bg talk Of hitch In
the segregation plan, and so ON through
out the list were explanations given but
seemingly the. same were OF oearIsL
origin.
The advance In call rates, whilc in q
way natural. was the subject Of much
adverse comment, but the same in great
part was offset by the decline In ster-
ling exchange 10 nearly the gold iTnpor:
point. Preparations for the December
disbursements, which arc estimated 10 be
nearly si0o, ,0o0. 000 and a desire on the
part OF banks 10 hold their loan accounts
In check In anticipation OF n coll for
condition on the part OF the controller
OF the currency was doubtless In great
part tho cause for the furry ju money
rates. In addition. the banks have lost
cash quIte freely during the week and
the surplus reserve. according 10 last
Saturday. figures. was somewhat below
the normal. Tho stock market is sd-
Inittedly nush more OF two sided affair
'han heretofore 10 continue 10 adhere 10
the view that the buying side on occa-
sionsl down turns VIII present attrac-
tons for moderate turns. II may he
we'll TO employ the use OF safeguards as
means OF protection against tho PROB
able occurrences incident 10 the con-
vening Of congress on the eve OF The
presidential year.
ton was tee strong and active feature
Of the copper group on big buying. II
- still Tumored that the AmalGs mat &c
has secured substantial interest In the
property and that il and the Live Oak
which the Amalsamatcd bought will br
merged. NcYada-Ctah sold freely at 3-t6
Giroux end Greene Cananea sold OF
a fraction. American Tobacco Was tradec
In from 4s1 10 sol. nearly zoo shares be
Ing sold. United Cigar Stores sold be
tween $50 and 255. The Tonopahs an,
rlnt!cs were dun and unchanged