The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1911-11-10
CONSUMER is HOT
ON TRAIL OF COPPER

James 4. Pollock & Co., bankers and
brokers. furnish the following; received
Paine. Webber e Co. Boston-The ac-
ceptance by the supreme court OF the To-
bacco plan was the biggest bull factor
we have had for months Investors and
spectators bought stocks freely all
through the list. and the. advance was
steady and we'll sustained. with prices
closing at the top. The local market
was strong and decidedly more active.
although it did not show the sensational
advances which were made by steel,
Amalgamated and Union Pacific. We be-
lieve this rally is based on substantial
conditions and will go considerably fur
ther The metal market has undergone
wonderful change, and consumers are
commencing TO worry about getting the
necessary copper and are bidding against
each other for early deliveries. One cop
per producing company had eight New
York metal brokers call them on the tele-
phone and ask II they had any metal for
sale. We have had many false starts in
the coppers. but we firmly believe that
there is a 5 to 10 point profit to be made
by buying, them at once.
Logan e. Bryan. New York: It is quite
some time since the stock market dis
played such general and consistent
strength as was the case during today's
session The improved feeling and the
major portion Of demand for both long
and short account was. OF course, induced
by the approval of the American Tobacco
United states circuit court and further
by the stern realization that property
rights are more than likely to be pre-
served under any and all conditions even
when modern corporate methods seem
ingly conflict with antiquated statutes.
AS is generally the case, outside bus-
ness, did not contribute greatly TO The bulk
OF the daY's trading. but still tho dis
position TO take hold OF standard issues
Is becoming pronounced among those who
have been patiently waiting for some dis
cter 1s t%z.y ygr.,,
1t seems probable. however. that on the
reactions, that are more than likely TO
occur frequently. the buying both by in
yestors and traders In general will be on
as IT is generally realized despite the
rather snarp advances In many quarters,
that the issues Of those corporations
which have demonstrated their ability 10
earn satisfactory amount above cur
rent disbursements so as 10 make the lat
ter relatively safe. still present great in
vestment attraction.
We continue to feel as oxpressed re-
Gently. that the general tendency OF Sc
curly prices, particularly the rails. is up
ynnsa Wsra and af,ioo as for the Steel issues and
SAID that the large rail and equipment
orders recently placed together with tho
better inquiry for structural steel, taken
In connection with The Tobacco decision,
have tended To make the Industrial ont
look more assuring and therefore. the
industrials will doubtless participate 10
Il marked degree in any further battnr
mcnt.
Hornblower, Boston: Boston coppers
were strong all day. with excellent buy
ing. In sympathy with the New York
market prices advanced from fraction
10 over TWO points. There arc very few
stocks offered around this level. on any
setback il is believed coppers can be
bought with perfect safety
Gallagher American Tobacco again the
feature on curb. III shares selling be-
tween 40 and fis. There was good sup
port in copper stocks. which closed strong
In sympathy, With strong inside market
5utp coanuoh. Inspiration. GlrouN and
Green Cananea a fraction higher. There
was quite little activity in the bonds
OF Lorillard and Leggett and Meyers
companies, No changes In the Tintics