The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1912-12-07
SHORT COVERING TO
STRENGTHEN MARKET

James a. Pollock e Co, bankers and
brokers. furnish the following, received
over their private wire yesterday after
Paine. Webber & Co. Boston: On tho
whole the market looks better tonight
than it has for several days. Bear trad
failed TO bring out any long stock. 1t Is
reasonable TO expect further upturn
on attempts 10 cover BY The short inter-
ests. There is no relief in sight Vet for
the money situation and we shah prob
ably see higher rates in the closing DAYS
or the month. We think the whole stu
alton decidedly discouragiDg and would
certainly take advantage OF any rally
10 sell stocks
Logan &. BRYAN. New York: There
Was continuance o; heavy realizing
from all quarters during the major por-
ton of today's session.
With very few exceptions. stocks Weld
cd easily With support Of only a NEGATIVE
character being in evidence in fact the
demand of short interests appears TO be
about the chiet sustaining Influence.
There is little question but what hys-
teria has been responsible for a good
portion Of recent selling OF stocks much
having been heard during the downward
turn as To the probable evil effects OF
tariH tinkerlnG and also as to the vari-
turc confronting the situation. Much OF
the talk has been banded about In such
Il manner as to give 1t the appearance
of something new and sensational, but
however that may he, it all served the
purpose of producing n state OF alarm.
particularly among those VINO had taken
. position on the constructive sijc Of
the market on the theory that the bonn
ufUl agriculture yields, the flouTishin@
state OF trade and industry and the large
railroad earnings should be reflected by
substantial appreciation in quoted val
ucS
International politics and money strain
seemingly were not rcckoned with 10 the
fullest extent but now that uauida,ion
has been drastic and the loan account as
a consequence thereof greatly contracted.
and as Tic foreign situation shows signs
of clearing, II would appcar that on the
whole, the situation has altered mate
rally for the better though IL is not un-
likely that tho stock market for "A period
restraint, owing 10 the fact that interior
demands for funds will probablv con
tinue on good scale during the re-
mainder of the year and thus hold in
nounccd expansion in loans which would
necessarily attend rising tendencies In
the stock market.
We believe, as We have stated recently |
mat there ts not much warrant for |
pressing selling side on the declines As !
tar as industrials are concerned. the bet |
ter policy to pursue would seem To be |
10 refrain from making extensive prIr-
chases Of same. owing to the fact that !
revision Of tariff schedules Is likely |
to work hardship in that quarter The /
situa ton would be much benefited by !
authoritative assertions shorn of political
considerations relative 10 the policies |
likely to be pursued by the new ndmini- ,
community fears the unknown rather |
ihan the known. and this would enable |
II In shane its course in an enliChteued |
manner II the utterances OF politicians
were made more with "A view OF con-
serving the country's interests than ap-
pealinS TO popular prcjUdiccs.