The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1913-01-28
stock MARKET DULL,
| WITH PRICES FIRM
Shorts Apparently Oyersold
and Waiting to Be Driven
TO Cover.
MANIPULATION IN CAN
"copper" Shares Steady Coal
Issues Firm and Steel Sc
curities Strong.
MANIPULATION IN CAN
By BRoADAN WALL.


5r International News service.
,EW YORK, Jan. "7.--Thc stock
IN market today was exceedingly
I'M dull. II was n convenient excuse
'lV for the first half OF the session
10 make the statement that spec
'ulation was awaiting a decision In the
MInnesota rate case. It would be nearer
'.hs mari 70 state that Technically the
shorts he'd oyersold and were awaiting
either a reappearance OF liquidation or
rome news that would cause them 10
cover their shorts. Spectators only en-
foy unfavorebe Developments so long as
fhsy affect prices and when bad news
|ress ses 10 be effective they arc ever ready
10 search for Il fresh impulse.
Underlying conditions are not condu-
lime local conditions indicate that rally
'Is 10 De expected Tomorrow trading
Will begin for the new account in Lon
don and as operations may be carried or
|therc for the next two weeks without
Interest charge. London prices should be
Next there Is a. renewal Of manipula-
ton IN American Can. This may be cH-
'pected TO carry the prices OF the shares
higher. Tobacco stocks are nouceahly
srm and there are no indications OF high
sr prices on the highly prosperous con-
|dlton Of this industry. Liggett &s Myers
closed at 222; up 81 on three days ago.
The Pittsburg coal Issues were firm on
transactions,
,s, an advance OF 2, and the preferred al
ID, up 4. Amalgamated Copper was
'SteAdy around 7l3 Union Pacific lost
and closed at loss on the report that
progress in the Southern Pacific divorce
vas moving slowly,
United States Rubber closed at SIS. an
advance OF !, on a statement from
PRESIDENT Colt that was anything but
satisfactory. 1t is surprising that an of
icial OF an industrial corporation could
.aa Lon,
|as 10 state that the figures submitted to
The stock exchange were incomplete and
TO dismiss all reference 10 earnings by
the assurance that It Is only fair that
our stockholders should know that the
.entire earnings OF United States Rubber
Tor this fiscal year promise TO be largely
'in excess OF dividend requirements. II
Is small comfort 10 stockholders to be
ossured that prospects are promising. II
. The statement submitted 10 the stock
rzcbango with the application TO list the
new stock and which shows an apparent
defcit. Ia not correct, why was 1t no..
mado public? Until other figures are
unlimited. the public will hive to assume
hat thoy are correct, Notwithstanding
all auiobling 10 the contrary,
Steel common displayed consistent
ttrength all day and close judges OF the
market are OF the opinion that the stock
Pc been largely ovcrsod.. IT is noticed
nat all offerings arc quietly absorbed
ONE OF tho traders are closely watching
~ opportunity 10 help a rally. The tes-
umony OF ". Z. Corey, while producing
IIhc Impression that the government ca sc
1Ealnst tne corporation has been helped,
raS not brought liquidation and as the
ears IN the stock had anticipated the
topenlns OF the suit by advance sales,
ne technical position OF tho short inter-
~ han, 10 say the least. become inter-
sting
The final 0gurcs for the last quarter
1si2 Will be made public tomorrow
nd they are expected to show a not OF
'oe,oepvoe Esrmetcs OF the first quar-
y q lsls. which win include two months
-W INC advance In wages. WI probably
about $685. 600, 600 While there is q
tllng OFT In the bocting of new orders
sperts Ia the steel trade expect the
Frent yea will bs abnormal.
Closing Stock List.