The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1896-05-03
MONEY AND INVESTMENTS.
Doings Of Day With Wall Street
Operators
BUSINESS CONTINUES TO BE LIGHT,
TOBACCO Was the Principal Poiut @
A"ack-Msrket traced Up Toward
the Close.

| New York, May 2.-Buslness on Tho
STOCK exchange today was light oven
TOT half holiday, and the fluctuations
| III prices, except in few inlustrial
shares, were trivial. The legal difficulty
ehcircling the American Tobacco COM
pany In the matter of the recent dividend
declarations afforded u strategic base for
manipulation. The street apparently
continues TO place the same nfayora bic
construction on the tactics OF the manage
mcnt MS when the peculiar scrip dtyi-
oend policy was announced The stock
today broke as per cent to 66is on free
selling, which caused the uncoverlng OF
stop loss orders. At the extreme low
point some support was Afforded result
ing in a rally TO 6S, in which the shorts
we're the principal factors.
The general market was decreased
slightly at the outset, but soon stcad,ed
and toward the close displayed decided
Improvement over the early figures
,usar rose Ia. Chicago, Cincinnati. Cleve-
land and ST. Louis gained point and Bay
State Gas gained per cent. chiefly on
Boston manipulation. The movement In
the Changers and other railway shares was
~ llsil hiN AlpStl ilTlN NJ sliSnt
general gains.
The volume of business for the week
was exceptionally dun. being partly IN
nuenced by the lack Of orders from E.u-
rope on one day and uncertainty regard
ing tho crop conditions and the revival of
s ii exports. Pm.lcs were much less
of a factor. bat it is all open SO re, ina,
in financial circles the news OF the ad-
journmcnt OF congress would he hailed
with profound satisfaction. a great deal
of stress has been laid on the Condition
OF IN, commercial paper market. hut ac-
corning ic experts, the lower fgurcs for
paper nave N Il large measure resulted
from the decreasing demnnd for accom-
prlses ana mercantile operations.
The year started out with the mer
chants in debt and with large accumu-
lated stocks OF goods, recently relief has
been afforded by the exceptional ease of
money. which vas in turn chiefly due
TO The decreased volume o. business On
ure bearing uron the commercial stua-
ton has been the Improvement In col
iec'lons. According 10 bankers who are
IN close touch with the general business
sales OF merchandise are slow
ana IL is reported that The general range
of prices for all commodities is nearly /
per ceni lower than on Aprii 1 and is
the lowest ever known. I'll. shipment Of
gold. amounting to 81 i3b, Gac, was below
general expectations. bur the continued
strength pI the vSchansc market indi- |
Gates probability of exports of the pre-
cious metal next week 20 London and TO |
Germany. Noteworthy developments bear |
ing upon the financial and railway out |
look are lower prices FOR wheat ana corn !
Railway earnings have been in the main !
Tho week opened with |
pr"nara Ions for vigorous bull cam !
pagn Foreign dealers made liberal PER- |
/ hasrs OF the standard railway shares /,
and also o. bonds. The local operators I,
also appeared to be disposed 10 Lake the
long SID. y cha%c in speculative senti- |
nelt soon became marked ard leading /
became Irregular with II narrow COM /
pass this condition ~ affairs beng part |
~ asciihcd To the Trana,aal crisis ard to |
the gold export probabilities. fhe apAthy |
Of tn- market was considered nil the
more surprising in View o, the steady ac- |
of money ut this center which |
was reflected AT one time by rate of
y. per cen; for cal funds, American |
closed FOR tho week nj net loss
IF per cent. Manhattan imrrovod IL
he system. but liter siumped 4 per cent
pn reaiizntions and the expected Increased
'ost Incidental To the passage of the bili
change ~ the system oil
igallug ears. sugar wns relatively less
lcfifo. but covered q W de range aud lett
'n ~ nei saia 81 =. pr cenl' We
market closed firm IN tone for the week,
lui win a general shading Of prices as
he net result of the dealings Aggregate
sales 1900 shares.
Railways bonds were Irregular today
sui firm IN tone as rule. The sales were
1927 go.
irhr movement for the week was toward
, lower level but it, most instances the
ossos were unimporlanl. sai's SS,5'3,vD.