The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1896-12-20
MONEY AND INVESTMENTS.
The Movement 10 Wall Street Mas
Very Erratic.
THE CUBAN RESOLUTIONS THE CAUSE
Heavy slump WINS Followed by RE-
covcry ON Exceptionally Favor
nble Report Of Trade.

| New York. December lathe stock
] market today was COZ 'parativcly active
and TIE tone feversh the slump In prices
| yesterday afternoon on The news of the
| decision of the senate committee on for
| e'gn relations 10 report favorabiy to mat
! body Senator Camerons Cuban resolution
leading the financ al community to expect
a very nnfavorablc sympathetic effect on
foreign securities IN general ard American
stocks and bonds in London IN particular.
| Accord ngly considerable nervousness was
felt previous to the opening regarding the
course OF the market Cablei advictu OF
| temporary DISCUSS on of the Cutan ques-
| tlon abroad, and higher prices for Amerl-
can Securities In Observation-Disclosures 10 In
| per cent In the active Internally listed
| stocks-changei the speculative temper
| and at the opening covering was begun
| on an extensive scale, resulting N sharp
| gains over last nights final prices. Buy
! ing Tor long account accelerated the nd
| vance. and the international arbitrage
mfins We're also reported In the market.
| Tho improvement scored ranged from 10
| ~ Per cent in the principal shares. After
| the initial dealings realizing and bear
drive on Manhattan Railway in coneetion
caused reactions. Manhattan broke ~
| TO 80, but later recovered TO ssh. The sub
| secnent movement of the stock was err
| ratio, but II left oil practically unchanged.
| The advance IN the general market was
| soon resumed and the best prices of the
day We're reached in many instances. q
SPECIAL inquiry beng Motel for Sugar, 81.
| Paul and Burlington. About IL o'clock
the market quietcd down ana fractional
%e r o6 asaan maze On rsa ~ b.
assoc ated banks from last weeks figures
| eNerting some unfavorable influence. The
| market c.osed irregular at generally sharp
All ordinary topics and considerations
| bearing upon the stock market during the
| week were overshadowe1 near the close
| lN the action of the senate foreign rtfa-
| tons committee on Friday In dec ding 10
| recommend Senator Camcrons r%solu-
| TORS acknowle ig.ng the Independence of
| Cuba. Previously the bears had made, oc-
| c9sional drives at the market on Washing
| ton news. but the financial community az
| large was relaxing Its attention to the de-
| bates in congress, and, in fact had begun
| to take only a perfuactory interest In ;he
matter Wall stree, had made the mis-
| take OF figuring from It's own standpo nj
| the assumed duty of congress on the Gu
| ban question and believed that the danger
| Of friction with Spain had been mni-
mizcd. 1t was considered that the dis
| cussion would have no more serious ~,
| suit than a few imprisoned sentimental
| outpourngs In the senate and the house.
| Simultaneously. however with the re-
cepts of the news. which came at iirst N
disconnected and incomplete shape the
market slumped In all directions; Who.e-
sale liquidation took place and right and
| left stop loss orders were reached. ac-
! ceerat!ng the decline.
Meanwhile the hours improved to the
| almost the opportunity to dcpress values,
| The more important Losses ranged from
| to per cent N the active list, w,tn the
grangers aud specalties the chief suffer-
Trading In the early part of the, week
| was characterized by decided weakness,
| especial pressure being brought TO bear
| against several properties, especially i'nr-
| linEton. This stock was influenced by
| reports Of probable perdng scaling OF dv-
| .dends. The Gould stocks were perss
| entity attacked and liquidation on a large
scale was made. The stocks of the MON
ana steel companies sold on on ne O.
| reported d.ssoluuonNof the stosl rail com
| binat on and reduction IN the price OF
ra..s. 1t was also considered that the
| deal between the Carnegie and Rockefeller
| interests might ser!1usly affect large com
pettive companies. The bear card against
unfavorabe outlook for a trade agree
ment. Consolidated Gas was exceptionally
erratc and after breaking 91s por cent
| recovered TO III.
Rofcrrng back to Manhattan, insiders
| in The property say that the questions
raised regarding the payment Of dividends
| tach no importance TO the suit. They
make the point that the company unlues-
| uonably earned up 10 1888 large surplus
| over the divide IDS VIII ch II had been pay
| prg. and that Its surplus belongs 10 the
| creditors and stockholders and may prop
eily he used TO make good any deiic TO-
| ward tina dividend IN any quarter This
| stock sold eX-dividend III per cent and
scored net decline of Z per cent for the
| week.
The Rubber shares exceptionally dis
played great strength on GOSSIP suggest
| ing the probable declaration Of dividend
| Gun the common stock by the directors De-
| cember 23.
Increasing frinness IN the foreign ex-
| change market caueed revived discussions
of exports of gold TO Europo, and i was
| estimated that from s2.DO.c0 10 S,o0j0O0
would be shipped to Germany on next
Tuesday. Bankers regard this develops
ntent as unmporiant and expressed the
opinion that the shipment of q few mil
Hons In, gold to Europe would exert a
bene'ioa al influence upon the local and
foreign markets.
The declines extended from to 81, per
cent n prominent shares. with Burlsig on
the chief sufferer Later the almost UNI
precedentedly favorable statement of our
foreign trade for November showed an
month OF $50 053. $50, and an excess of ex-
ports over imports IN eleven months Of
s266 .0sG,1C9, which, together with a prema-
iournment of congress. caused a general
rally Most of The carly l-sses were re-
covered and in some Instances the highest
prices OF the week were reached. Final
pr.ces show net declines ranging from
to ri per cent, the last n Burlington.
Sugar lost 4. Chicago Gas 39s aud St
were 1861 $40 shares
The bond market today experienced un-
usual activ.ty.thc sales aggregar!ng l3o4.
COO Prices were feverish ~ sympathy
with the movement of the stock market
but tho general undertcne was firm. The
weeks bond market hicke1 feature ASIDE
from aggressive strength In some of the
USUALLY inactive Issues. particularly oh o
and Msssiss'pri- seconds, winch jumped 10
per cent to rs. The market generally
moved irregularly and was lower In com.
mon with the Influence for Other securl-
ties. Comparative prices show Losses OF
ia2 per cent IN the lcllng speculate
bonds. The sales were ss.M5o0n Govern
ment bonds Displayed general strength IN
Ill the closing dealings when derand
losses wero noted on the political develop
'rnontS. Sales We're $4,000.
Silver certificates were dun but steady
the transactions aggregating only $1,000
Increased dealings were noted In State
Issues; Nirg MIA centuries gained an i'm
portant fraction.
Total sa,cs of stocks were 1s2. 5s5 shares
Including Americ,n Sugar %, 100 Buriing-
ton 20 800, ST. Paul 1000.
NEW YORK MONEY.
New York, December 19-Money or cal.
easy al . per cent. Prime mercantile IA
per. AL per ce1'. Sterling exchange Grm
with actual buf!ness in bnnkcrs' bills AZ
4 sGi5 for demand and at is3YGiai for
eiN.y DAYS. rOgtel roteg 4 SuaT7tSt ami