The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1896-03-15
MONEY AND INVESTMENTS.
Doings Of Day With Wall Street
Operators.
MARKET WAS AGAIN MANIPULATED.
Vagarics In lpdustrials tho Feature o
the Market, Most Of Them Closing
HiSher-Markct Reviewed.

New York, March 1.-THE volume of
business in stocks today was only mod.
crate and the dealings bore the usual i'm
print Of manipulation. With single ex-
ception vagaries in the industriais was
the feature the usual eccentricity of the
movement being noted In that group. Lon
don was a seller of Northern Pacific, but
otherwise was not a factor in the market.
The stocks mentioned were notably weak
on apprehension of severe asse ssments un-
der the plan of reorganization which II Is
understood Will be published on Monday
next. 1t Is evident that the common anu
preferred stocks will have to contribute
heavily TO provide for the large amounts
of cash that are imperatively required to
rehabilitate that great property. Upon
dealings larger than the recent average
the common stock yielded l9s and the pre-
ferred p. per cent.
The trading in the balance OF the list
| aside from the dealing in Industrial
shares was featureless. General Electric
lost liSff to 3ess. Tobacco on the other
hand was exceptionally strong on manipu-
lation and gained IA, ana the preferred l.,
with a subsequent fractional reaction IN
the last named. Dlstilling improved ~.
on suggestions of the formation of n new
pool In the stock. Sugar sold up IA. Most
of the advance was retained.
The railways shaded off slightly at the
outset. but Stifened later on purchases to
cover shorts The final operations were
| irregular and the net changes show small
fractional net gains.
| The speculation OF the week clearly
Indicated the indisposltion of outsiders 10
make ventures in Wall street, despite a
number of developments that would ordl-
narily have created interest III the mar
ket. The responsibility for this condition
of affairs is varioEsly placed upon the
prolonged strained political situation be-
tween this country and Europe. the eS-
travagances of congress and the unsatis-
| factory condition of general trade. The
| important events have included the dec
| laration of the regular quarterly dividends
| on Sugar, Manhattan and Western Union,
the half yearly disbursements on North
west preferred and st. Paul preferrcd.
and notably the advance in st. Paul com
| mon to a per cent annual basis. The
purely professional character of the oper-
| ations for the week was evidenced by the
Wild speculation that was at times tn
dulged in In the Industrial shares. To-
bacco was pre-emnent in this class in
point of activity and erratic fluctuations
The price sagged to TIA. against 1885, the
closing sale of the previous week AT the
low point large interests were heavy pur-
chascrs. The climax came on Wednes-
day, when rumors of n compromise he
| tween the trust and its competitors, In
volving the purchase of several important
properties, caused a stampede by the
shorts which sent the price up to s2M
The movement was exceptionally violent
the transactions In the day mentioned az
gregating go, 900 shares the banner tota
for a days trading in any stock in tn
past fifteen months The extreme advance
was reached In the first hour and mar
Of trading aud a jump of points IRON
the closing of tho previous day. Inc SUP
seducnt movement was irregular ana th
stock left off for the week At net I'm
provement OF lSs. General Electric wa
a decided feature In connection with ru
mors OF IL favorable character whict
eventually crystaliaed into report OF
harmonious arrangement between ih'
company and the Westinghouse compah!
regarding the division of electrical busi
ness. General Electric gained oSs AZ com
nared with the final figures last Saturuas
The net gain for the week was reduced d.
realizing sales to "a per cent Interest,"
ing developments in addition to thos'
noted included squeeze of shorts in bai
timoro and Ohio. causing an advance OF
nor cent, The closing shows net sa''
Of n. per cent. The forthcoming plan o
reorganization of the Northern Paclhc eA
cites widespread anticipation and interes
throughout the world owing to the larger
distributed holdings of the securities an
the protracted embarras sment OF the sSS
tenn. Sales i,2il.9af shares.
Trading In bonds today was exception
ally duh and unintercsting. Dealing
amounted to ga 600. Business for TN
week shows irresularty. but fairly mr.
tone ruled. Final prices we're at silsh
concessions. Total sales S66,2Si,~o'
WEEKLY BANK STATEMENT.
Nav York, arch 1.-THE weekly nan
stnt.mcnt shows the following changes
deserve. decrease, N,I&,O'' loans, ~, NJ
crease Sc O}s coo; specie. decrease sos'vo'
legal tenders decrease sSol, NV ueposiu
decrease, sos 900; circulation mSrSas /,