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Show CAUTION IS ADVISED 1 IN EASTERN MARKETS James A. Pollock & Co., bankers and brokers, furnish the following, received over their private wire yesterday afternoon: after-noon: Paino, Wcbbor & Co. letter, Boston: The Boston market was very strong and fairly active during tho latter part of the. session. Lako Copper was asaln m very pood demand, soiling up over two points. We think this rally will contlr ue, as nil urgent liquidation sooms to bo over for the tlmo being. The New York market was very strong, shorts covering vary freely. The cotton report evidently has been discounted and no upward movement took place in that, market. This rally nhould continue further undor urgent buying buy-ing from the shorts. Advantago should be tajcon of any further recovery to lighten light-en accounts, so as to bo in a position to repurchase on any weak spots which may come from time to time. Logan & Bryan stock letter. New York: Moro 'favorable crop news, particularly with regard to corn, was tho prlmo factor fac-tor In causing a bettor feeling today to prevail with regard to tho security. Liquidation Liqui-dation during the early trading was not as pronounced as horetoforc and the trading trad-ing on the decline became dull, with thi result that wnen short, covering started offerings wore relatively light and advances ad-vances easily recorded. The absence of a satisfactory explanation with regard to tho heavy selling of tho Hawloy Issues yesterday did much towards undermining contldenco, but the fact that the Issues wore well supported today had an assuring assur-ing effect on tho general market. Tho weak spots are being gradually strengthened, strength-ened, but it does not yet appear as though tho list Is In a position to enjoy a .sustained advance, although money conditions indicate decided improvement. The investment demand, however, has been of fair proportions and the seasoned dividend payers at prevailing levels offer of-fer a satisfactory Investment. Political complications aro likely to become a disturbing dis-turbing factor at almost any time, and funds for crop moving purposes aro likely like-ly to be withdrawn from reserve contcrs In the course of a few weeks, which would tond to work against the probability of a broad and higher market. Wo would not bo mislead by tho present show of strength and would continue to lighten lines on the recoveries and confine purchases pur-chases to tho occasional drives which socm likely to occur with considerable frequency fre-quency under existing conditions, Gallagher says: The markot outside was stronger today, the features bolng Giroux. Miami and Chlno in the higher priced slocks. May's Oil went off to 80 cents under lnfluenco of traders, but the Insiders In-siders closed It at 90c. Union and Gold Hill wero strong; the rest of the market was steady. |
