The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1896-10-18
MONEY AND INVESTMENTS.
Doings of Day With Wall Street
Operators.
TOBACCO THE STAR PERFORMER
Big break in the stock Insiders Able Z,
Manipulate Prices - An unfavorabic
Bank statement Has Eject.

New York. October i7--Tobacco practi-
cally constituted today's stock marke, In
point of antivity and made sensat .onol
extreme break of ~ per cent TO 6gA after
an early improvement OF point While
the long consinue1 rise IL the stock has
been accompanied by number OF vague
rumors of a buliish character. Including
suggestions of favorable action in Wgard
to dividends and more recently by reports
OF an impending absorption of the plants
OF the more important concerns opposed
to the American Tobacco company the
decin. today caused only languI1 interest
on the part of the nnanc,il community at
large,
Experienced operators are well aware
that the closeness with whch Tobacco
stock Is held permits the insiders who are
Interested IN 1t to make practically their
ports that the alleged pending deals are
ION" or off" obviously afford nrst-class
speculative opportun l1cs 60 the clique.
The slump In the mercurial speciality ro-
ferrei TO failed 10 seriously aflcct the gen
erAl list.
The grangars ana some of the industrlals
We're ia moderate request Cotton on pre-
ferred roS3 "a per cent
The publication of the hank statement
OF averages OF the associated banks, how
ever. gave the entire market chill
though the selling that eusued was con-
! SIcrcd to De largely Tor snort account.
The early improvements Were lost ana the
/ market closed weak AZ unimportant net
| ChaLscs.
The market during the week displayed
| considerable lrregularty, chiefly on pro-
| fesSloual operation IN" course OF price 3
! iriiectcd successive alternate counter
| plays by the bulls aud also by the bear
| leaders with the manipulation most radl-
ant IN tn industrial group. Vhc erratic
movements - the sreeia'ises at tines
| sympathetlcally affected the general list,
| but the volume Of business was only mol
| crate. Trade conditions formed tie text
| OF the bull efforts in the class OF stocks
| referred to. while a favorable gcucrdl IN
| nuence was eNertcd by the products and Of
| an enlarged export scolr and Boy the iali-
IRE OF the Bank OF England 20 advance
| the minimum rate o, ~ count above inc
3 per cent figures az had boon ant Nirated,
| This fact and cCIuuncd Strius"ucS IN
| money rates caused further large chgaBc-
n.cuts of gold for import 90 this country.
| The arrivals of the metal We're also con-
siderable In amount Uncertainty as to
thu eventual disp psition o. the part of
the incoming specie is now, however some
thing OF a factor tn tho situation and de-
tracts from the bullsh significance Of the
movement al tho mom'ul The activity
and advance IN wheat auI other staples
| and the final movement OF the cotton croI
have caused heavy shipments of funds 10
| various parts of the country aud ther Is
a more limited, though fairly consider
able. enquiry for gold for less legitimate
purposes.
Money on call touched 10 per cent with
the bulk of the loans slightly above the
| legal 8 per cent rate. In some instances
short time money loaned ut 10 per cent
The upward movement ia n" stock mar
l1et was eventually checked by the none
tary stringency and by reports of the sus-
pension of several financial institutions In
the interior,
An incident that excited cons dcrahl,
interest and contributed somewhat 10 un
settle the market temporarily was M
withdrawal OF a mmp Of 5000 900 in gol'
from tha sub-treasurY 10y .cuiing Tor
cigr representative house The eNplona
ton was simply the execution of a con
! tract
Tobacco was the star performer and OF
Il variety Of rumOrs advanced Sh pc
.nt All but ! per cent OF tho gain wa
sutsequenfly lost IN the last Of the day
trading on liquidation by TIRE clique Com
pursDtive figures show slight gains serer
? ely. Aggregate sales ~a5i6 shares
! Bnsiuoss IN bonds was without spccia
feature ana was largely confined to a fev
of the speculative issues l'rices move
irrcrulariy IN sympathy with the varion
e Influences affecting the share speculation
: Tho leading issues show general Sigh
gains: sales H..72 Goa.
, Total sales OF stocks today were %,
! shares Including Tobacco 81 Goo st, Pau
TO- 400 silver certificates 1850,