The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1896-03-08
MONEY AND INVESTMENTS.
Doinss Of a Day With Nall Street
Operators
TOBACCO THE FEATURE IN TRADING.
war Agsiust Truss Opener II Hurting
the stock--Review Of the Week
shows Decrease.

New York, March THE feature Of to-
days stock market was marked activity
in Tobacco. Tho operations In that stock
amounted to eS.ioo shares out OF an agsre-
gate for the day OF 10000. Liquidation by
insiders was noted and the professional
traders werc active. depressing the stock
10 u 3-S. In The late speculation a recov-
cry of 2 resulted. chiefly on covering by
shorts. Tho old argument against Tobacco
Ia stiil applicable. namely, the persistent
policy OF the management to carry on the
war against the outside manufacturers.
The declines were attended by rumors OF
unsatisfactory trade conditions, which II
was alleged might affect the dividend prof
Its. Ii seemed little early TO discuss tn.
preferred dividend. as II is not due until
next June. director OF the company In
formed a reporter that for tho first Ave
months OF the fiscal year earnings had been
In excess of those OF last year. for the
corresponding period and fully up to the
requirements for interest on the debcnture
bonds and the proportion of tho dividend
on the preferred stock for the Nvc months.
and the outlook was for improvement. The
preferred rallied
The gcncral list was devoid OF feature,
aside from General Electric. which al
vanced IL OH manipulation by new pre-
ftrod stock. Fractional concessions oc-
CURED In a number OF instances w sym
rathy with the depression IL Tobacco. but
In the last hour II general upward move
ment carried prices TO tho level OF last
nights final figures. The closing was du,i
and firm.
The speculation OF the week has again
been influenced 10 II large extent by outside
considerations. notably the political unrest
abroad md the Cuban belliGercncy resoln-
lions, Except In one or two instances tho
ar la l.. Inc tod
by the professional traders In industrial
shares. Tho arguments employed against
active securities In this class are praotic-
ally unchanged. Tobacco curly displayed
strength on covering by shorts and gained
IL. 10 so. Reports of an impending issue
OF preferred stock and OF aggressive action
by the opposition to tho trust caused heavy
selling. portion CT tho profits coming
apparently from tho inside. a decline to
II 6-S, with a flnal recovery to n 5-S.
In tho railroad list the most important
Developments were the culminat ton OF tho
financial eInbarrassments In Baltimore nnd
Ohio railroad In tho appointment of re-
ceivers for the property, For n long tire
previously financial experts had expected
such contingency. A strong reorgani2a-
tion committees has undertaken tho work
of rehabilitation. and It Ia understood en-
Joys the cooperation OF important foreign
interests In the property. The best infor-
nation IL that the company han floating
dent OF between si2.ooo.0oo and y5,oo0, 900.
and that about 10000, 900 win DO needed TO
place the company upon solid pIiynicni
and financial basis. The stock as n result
OF tho developments noted sold down to
tho lowest f'c.ant ever raoorded for It, Is.
and tho net iosp for the week Is s3-s.
Money. both on call and time, has been
ensy. The sterling exchange market has
exhibited hardening tendency and reports
L. .t,.,,,s ,i...
The net changes In prices for the week.
aside from those noted, were uniInportapt
as n rule. but with most stockB !ncllning
toward low level. The aggregate sales
were 1,2filas. The bend market today wns
without special feature. Tho volume OF
hl stress was moderate and the tone was
hrm. Total sales N760)O. The market
during the week was wen held on 1min-
ishcd business. The aggregate snles were
S. 23l. 900.