The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1913-05-30
LITTLE CHANGE WAS
MADE MARKETWISE

James A. Pollock & Co., bankers and
brokers, furnish the following. received
over their private wire yesterday after
noon:
Paine. Webber & Co. Boston--ln nor
NAL times the approach of a three day
holiday would be sufficient TO explain
the dullness in the market, but as we
have had no activity for some months
past the dulness today needs no explana-
ton, The net change In the list was
only fractional and has no significance
Financial and industrial conditions are
gradually shaping themselves for the bet
ter, but for the present little can be ex-
pected from the market. The local cop
pers are in d water-logged condition.
with little forced liquidation going on
all the time, and Just enough new buy
Ing coming in to take care OF 1t. Pro-
ducinS interests are confident that the
market for the metal IS sound and that
prices OF stocks will eventually respond to
the good earnings that are now being
made
Logan &c Bryan. New Yorll-Much In
terest was manifested in the statement
made by the legal head OF the Harri-
man road property. However. the pub
lie Will be slow In allowing themselves to
come to conclusion AS to the specula-
tive or investment bearing as a result OF
the contemplated plan, IL being under
stood that the attorney general is the
last word and even after that it may
be necessary to raise, certain issues by
legal process to the highest court,
From financial standpoint, with the
foreign situation being complex and with
recent developments In the diSappoint-
ing outcome of securities held abroad for
minor and speculative railways, it may
be burdenSome for American stocks to
have to depend on the purchase and alb
sorptlon by home people. The money and
credit expansion already is such as not
to permit an unexpected volume of Sc
curlties TO be peddled out such as ii
looks necessary. growing out OF the Union
Pacific and Southern Pacific divorce pro-
ceedlngs.
In the last hour the action OF the
stock market was without importance.
There was some selling by the specula-
tive element on the floor. which is usual
at the beginning Of long holiday in
terval, but this was supplied by short
covering. II appears TO us that condi
tions are bringing us nearer to currency
legislation as well as an equitable allow
ance OF Increased freight rates to rail-
roads. many Of which are being milked
by poor relations in the shape of sub
sidiary companies purchased either on
the boom or inflated basis, Therefore
we advise conservative commitments and
with such discrimination as will tend to
confne operations to standard stocks
with the seasoned dividend record.
Gallagher Letter. New York-Curb
market feature today was the activity
in industrials. Cigars for the first time
in weeks advanced points to 92l later
reacting TO 91 In sympathy with lower
prices on the stock exchange British
American opened fractionally higher, but
later sold down to 91a and showed a lack
Of rallylng power throughout the session
The mining shares were irregular there
q cents. West End at S-16. Nevada
Hills al ST. The market in general
closed firm with prices fractiona1ly up |
from the low of the day.