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Show COPPER MARKET IS STILL ACTIVE EAST James A. Pollock & Co., bankers and brokers, furnish the following, received over their private wire yesterday afternoon. after-noon. Paine. Webber & Co., Boston. The local lo-cal market was again very active today. Granby. Range, Lake and N. B. showed heavy buying all through tho session, the advance in Range being" especially noticeable. Mayflower and Old Colony were weaker, apparently because holders hold-ers were selling out to get into other specialties spe-cialties which are moving faster at present. pres-ent. Granby Is fulfilling all expectations and was the strongest stock on tho list at close. It is rumored that the heavy buying of Range today is preliminary to a ten-point advance in that stock. Logan & Bryan. New York. Politics and wheat crop advices taken In connection connec-tion with the asgressivenesB of the element ele-ment operating on the selling sldo were the factors which contributed mostly to Wie unsottlement in the stock market today. to-day. The pressure on Atchison was said to be based on the unfavorable crop news, and while, seemingly, it is rather early to take a firm stand on either aide of the stock market based on the agricultural agricul-tural outlook, nevertheless tho Influence of the above selling was the cause of some liquidation In the grangers. The weakness in C. F. I. w-as said to be based on an early readjustment of the company's com-pany's financial fabric, owing to the fact that Its charter expires in Octobor, and as for Missouri Pacific tho liquidation in that issue was not based on anything tangible, but seemed lo be In the nature of realizing on the part of the coterie who. a while ago. were active in promoting pro-moting an advance in the issue. Recent political occurrences have been such as to cause some hesitancy In the. minds of those who aro In close touch with politics, but, or course, It is yet too early, with the conventions two months away, to make a deduction other than from the results of the primaries in tlie various states. AVe believe the present unsettlement and reactionary tendency is to be considered as only natural in view of the recept sharp advances ad-vances and in lew of the fact that labor controversies arc becoming acute, but conservative purchases on a scale down of the standard Issues should prove profitable prof-itable and moderation turns accepted owing to the 'fact that the market has become more of a two-sided affair than heretofore, and reactions likely to occur quite frequently. The hardening of money rales has donu much towards curtailing operations in some of those specialties which do not pay dividends, but as far as the lirles are concerned the demand for same has been of an exceptional quality qual-ity and we look for same to sell much higher. |
