Salt Lake Tribune | 1910-06-10 | Page 8 | Short Interests May be Forced to Cover

SHORT INTERESTS MAY BE FORCED TO COYER James A. Pollock & Co.. bankers ami brokers, furnish tho following, received over their private wire yesterday afternoon: after-noon: Paine. Webber & Co. Letter, Boston-Lake Boston-Lake continued to be accumulated again todav. Tho balance of the list was vury Inactive with sentiment decidedly mixed. The monthly accumulation Is very bearish, bear-ish, but the lack ot liquidation, and the difficulty in covering by shorts, has made most of tho traders lean toward tho long side. The markot has had a long, steady decline and now that tho railroad dispute Is out of the way for somo tlmo we expect ex-pect to soo a gradually improving market, with sharp rallies now and then when the shorts try to cover. . Logan & Bryan Stock Letter. New ork Tho volume of out9ido business was comparatively nominal, which left the markot almost entirely subject to the whims of tho professional traders. Shorl covering In Steel and Union Pacific on a good scale was In progress, and the former gained the amount of Its dividend. divi-dend. Tho market news was relatively scarce and discussion with regard to the rail situation not as pronounced as heretofore. The action of the list Indicates Indi-cates that nrgont liquidation is about completed and efforts are mado occasionally occa-sionally to force the short Interest to cover. Higher prices arc predicted for Steel. Southern Pacific and Harvester, but wo would bo satlsllcd with moderate profits, as tho situation still remains one In which caution should bo exercised.