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Show 10 POOLS FAIL TO CREATE MARKET ADVANCES IN WEEK'S TRADING Combinations To Exploit Stocks Make Slow Progress; New Buying. Movement Expected. Speculative o-.VpCrUl to Tb fH Tribune.. 1 - i TRShOOO, 1 NEW TORE. Jah. 29 Th present movement In the stock market may be compared to the action of a horse In the tread mill. There t a ehow of activity, pool and clique are doing their beet to whoop It up with the hope of enticing the public to to the market, but after the smoke of battle clear away, they find that they have made little or no progress, and have been merely swapping their stock around the circle. Occasionally the pool are partially successful In spreading their fantastic stories of the inside developments of particular properties the stocks of milch are active -- L l.nula.1 in i in ilig.sxrluiisy these reports are little more than the offspring of a fertile Imagination. The Gulf States Steel epiaode Is almost exparallel to that of the tut Motor actly of-excitement tut year ago, and when completely subsided In this Issue the may be rolled upon to bring out new candidate. The fact that these professional cliques are now don i In.toinf In lone the market constitutes a warning J. outsider to be their commitments, rtpooulatlve combinations are effected ordinarily to explott the possibilities of a atock rather than to attempt to buck the economic tide. . The astuts professional speculator seeks to anticipate hmftd movements tod to make he commitments ahead of "the public, rather than to promote such movements In the present market the long continued absence of the publlo makes the kit ter action more tiecemtury, for the professional must live, and his living depends upon the movement of prices, whether up or down. MittA-ulXit- u. -- as against ahout 111.600 000, U09 in the calender year 1920. The balance of trade showed an excess'" of exports of about $. ihiO, 000,000; as against one of 93,OoO, 000,000 the 5 ear before. Considerable of these shrinkages is due to the of level lower prices prevailing. In the case of cotton, for example, the export In 1921 were 314 973 bales more than In 1920, hut the value of them was less. Similar decrease are notedIn number of the foodstuffs, lUumlnat-ln- g As to Im oil and oiher articles. ports, there la nothing In the figures to show any dumping of foielgn goods such aa was predk ted. There was a slight rise between January and April, followed by a general decline unt'l November, when they began to increase Again. JVhile the atkHptlon bv the ' senate of Jt02,-li7,1- !i bill pnigimw.il y bjoo" ho appearance for 'that group of senators, W a of victory the damage to the reserve system may not be as great as tt is popularly supposed to be Nothing kn what has thus far been done need be regarded as pointing to any Immediate alteration In the policy of the system It Is, of course recognized that Governor Harding, is the only real blanker on the reserve-boardand the most disastrous would fobow his dispftrcinment oensetpiencs A farmer or any other form of theby orist. The polltlutan should remember that the ethength of the federal reserve" system is In Its member banks, which in realltv furnish every cent of thq capital and deposits of the government operated their national bank. By surrendering charters the national bank may withdraw from the ayatem. while the big state an easier halve banks and trust companies are If measure method (of egrev. to.. win inevitably wreck the sysadopted tem that hi meant bo much to the counlook for distry for seven years we mav Many Fail in Street. integration from without as well as from ' Investigation of a number of within. The situation is one which re- more of delicacy and prominent 3uire a great deal brokers, the failure of th-than is being exhibited by our and house with giatlonal ramifications the distress signal that are constantly clumsy politicians at the national capcoming from other quarters, has led to ital the revelation of much Irregularity In the brokerage Peace Dollars Appear. operating of the bouses, many of which are .town to be The appearance of the new peace dolnothing gnore than plain buekeleers. Hlnee lars is due In nme respects to the large the order entrusted to such "brokers'' amount ofallver reiently acquired by the are never executed on the exchange, it is treasury under authority of. the Pittman to their advantage, always, for their cus- act- Since the ending of the war. liters tomers'' to lose. An ethical broker, on ha hot of the demand for a the other band, who receive his commls-elo- n export silver cessation, for the orient, and the only tor the execution of orders, is heavy stock of th whito metal on hnnd Interested in the success of his customers, at the treasury ho made possiule the for the reason that unless they ore suc- new coinage. Not since 1904 has the cessful they noon cease to be customers. government coined Vi n y of these "curt The mortality rata among occasional wheels, the demand for which, lor ciris notoriously culation purpose, hae come chiefly from (marginal) speculators and the west and sooth. high. There 1 one born every minute, em-btheir chance become less when they The purchase of silver at a dollar Tier k upon fa course of Wall street gam- ounce, as authorized by the Pittman act, bling resulted for a time In the pegging of the The period !nca the first of the year price of American sliver above that which has been occupied by conventions and In to be foundjn the world's competitive conference of a number of prominent market, the present quotation of fornational trade bod.es, with a view to eign metal being around 66 cent Those the sentiment In remote who are opposed on general principles to ascertaining parts of the country concerning the firlcvs and governmentact regular artificial. outlook. be retlon are now urging that this however, are pealed The silver mine, Optimism Expressed. naturally unwilling to surrender their that, although the The general impression is that the pe- subsidy, and point out at a not treasury pays them for their bulliontransha riod of buying above the market price, the completed, and that therefore, price cost nothing, the government action the most astute producer ere those who new buying since It put only ohpot M per cent of will be prepared for the worth of silver so purchased movement which cannot be much longer a dollar The worst that could happen into th coined dollar. delayed. has now come and gone or rapidly The peak bf unemployment ha going. of the with spring approach passed, and, there appears to be plenty of occupation for thoee who are competent and willing to work. A great revival of the building trades all over the country is one of the certainties, and expansion of this Industry means a great deal to the future of business. The farming communities, which were eo hard hit by the fall In prices of their product, are beglnnlng-tadjust themselves to the new order of out much better things end will come lessened tide year because of expenses. The condition abroad, upon which so -immuch depends, are being ateadtly proved. By the end of the summer. If , pvolij' tJrifcinuu not before the way will be hown along CHARLES which the progress toward the normal D. MICHAELS. By must be made and toward which effort 29. Action on the CHICAGfl, Jan. will be encouraged. from the Pittsburg district, wheat market last week made moat of Report concerning the 8tPe1.trafle. outlook. aTe the trade hche and abroad betiave that The demand for It distinctly encouraging time to be careful on the short steel ha been slowly Increasing slm e the side and that values are working toward first of th year, when .Ilia. market-wa- s under the influence of the holiday and a higher level the world over. With any the annual Inventory taking, and it is encouragement In the way of largely Inwell distributed, all with practically buying and with more general classes of buyer represented. In prac- creased confidence, a higher level of values might tically all Inquiries carload lots predoml be on top of the advances nate and in all cases prompt shipment Is madeestablished last week. required. There have been few times In Bueno Aires wheat prices have adthe hlslory of the steel trade when the vanced 17e In eleven davs. Liverpool5 iz proportion of prompt business waa 8c to 10c a bushel in the same around up as at present. lari time. Higher prues for foreign exchange have aided materially In figuring the Lower Prices Prevail advance for some time that the Argentine was market Issued undulv been have depressed by short Preliminary figures by the department of commerce covdiTfYg selling and by efforts on the part of the countrys fore ism trade for the cal- foreigners to buy as cheaply as possible. Ex rters have apparemlv absorbed the endar year 1921 Thev show the marked shrinkage in values which was expected. surpltef I offerings there. The report cirTlie total foreign commerce. Including culate baturday that the Argentine been sold is not generally boexports and imports was about $7,090,- as It Is around i:6,Oe0,OOO llevy bushels 009,900 hi fur the season, in- oil and new wheat. There has tiupng bc4n about 2'.0ii,o00 bushels sold for LQfiG-TERf- cl exhort and possibly more and It is hard to believe tiiat the entire could surplus hive been disposed of Jn the last two nonths. The whole world wheat situation Is wvorable to an advanie, but It is hardly 1 asenable to expect that prices will go The trend for interest rate P as fast a they did during the war ertod Ts downward, and will probably A downward W continue so for eoveral years. the lonjf-Ter- m has been compared with requirements of 690,909,-D0Consoquontly necessary owing tobuehel? reduction of 30 bolitls are advancing in' foOciM bushels in the Canadian wheat Movement of corn from country price. , luvostors during the crop. The surplus of that country for continues unusually heavy and is- exthe met n is estimated at 2oo 900 000 pected to for a few week more. pnst vek-- have made moke on bushels, end total for North America Is appreciation in the value of At the name time shipment have also 4ef 000 bushei their holdings than the interlarge and accumulations small conThe'lmted Mates Is" believed to have heen est amounted to. the size of the receipt It is sidering exported Its euiplus and it Is on a do- not to be expected that farmer will conmestic basis Australia has an estimated tinue to eel! We have a Partial Payment for a much longer freely Plan which makes it possible I be starting thT wll p,r,od' nr 'nn a f'asa of bushels from I their for anyone to take advantage spring work and some sections are would the an Argentina suggest apparent said to have already sold their surplus. of the present exceptional mar ket. Wo are recommending that our clients nicrease their holdings to the limit. We feel certain that a year from now high grade bonds will sell at a considerably higher figure. We shall be pleased to furnish full particulars on in' ' quiry. g ee ai I busl--ne- ss hand-to-mou- yet-bee- n 1 o Confidence Optimism Aggressive Effort brought them there. Business is reviving as it did after the depressions of 1896, 1904, 1908, 1914. The volume of manufacturing and trade is increasing daily, unemployment is decreasing, loans are expanding. Business is gathering momentum BjwxQa 1 -- PRQSPERitrJs Just Hound The Corner ha He profits most who serves best BUY 'jin Space contributed by The Salt Lake Tribune cooperation with tbe ROTARY CLUB PROSPERITY CAMPAIGN f BONDS high-grade . D . -- 1 l'D'h-O.OO- 1 J. A. HOGLE & CO. INVESTMENT SECURITIES St. 120 S. Arthur St. Etcle Bldg, Pocatello lake Ogden 169 Main Salt The Attention of Banks and Bankers In Utah end Idaho Is merited by our new booklet, SPECIAL OBLIGATIONS OF UTAH MUNICIPALITIES, because It end rt mousses bonds and warrant leaned In payment special lmprovementa Banks accepting tpese securities as collateral or purchasing for Investment will find much of Interest In this booklet, which will be sent free on requcsL ROSS BEASON A CO. INVESTMENT SECURITIES Felt Building ' Salt take City xleiu-rihe- e -- tf Waestch ,4 k1 6042 the trade better market Is Inclined to look grade gold quarts was struck near the surface Since that time mining men have been attracted to the district, which possesses great merit apparently Lucky Boy Mine The tunnel commenced last spring to tap the ledge at greater depth has opened up, a w eh defined gold vein for terr feet, showing milling values. A The Lucky Boy mine, situated nxr winze is now being sunk on the beet ore miles east of Finch?, The owners plan to sink to a depth of at Fay, twenty-fiv- e tv , is now being worked on a small least fiftv feet should the alues persist to ac Ftlel Lytle, one of the as the work progresses. vOe. ordlng About three tons of ore, all showing owners, who has been in Pioche after good, Neat Pioche Attracts Attention already been saved fup for future shipment or milling treatment when such facilities are available This ore, which, it is said, should average at least three oumes arold to the ton, carries a small silver content.. -- DANGEROUS ADVICE. advises girls that think of getting. 'married to talk to their mothers first But If they do that, how are they going to be able to continue to think well of their father A judge Money, to Loan-o- n Estate Real 0 charge no commission. Tour money Is Immediately and there's no available red tape about it. If you desire a loan see u at one about It Sons Ed'D Smith. JnMjtmmO Angnfsie 96 Net Bw2l$ewtk Bbeet Mayors' and Public Officials are Interested In improving their municipal credit end sefor bonds end wargood prices curing rant Issued to defray cost of special secure a copy of should Improvements 0ur'3ir-rrs'b'kiet- 7 "SPECIAL tM. PROVEMENT OBLIGATIONS OF UTAH MUNICIPALITIES. Bent free on request. in Utah and Idaho who ROSS BEASON A CO. INVESTMENT SECURITIES Felt Building Silt Lake City . Wasatch 6042 NOTICE. The annual meeting of the stockholder of the Eureka Hill Mining Company, for the election of trustees and officers and' the transaction of such other business a may properly come before the meeting, will be it. Id at the company' office room 14. No 9 East First South street. In Salt on Tuesday, February Bake Oltv, 21. 1922. at 12 o'clock noon. JAMES E. BERKLEY, Secretary. : If NV I40f I |
