The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1896-07-19
MONEY AND INVESTMENTS.
Doings Of a Day With Wall Street
Operators.
IT WAS PURELY PROFESSIONAL
Momcntary spurts At the Opening and a
Recession to the Ciose-FinAi
Rallies Due to shorts.

New York, July is-The stock market
todny was a purely professional ana'r
The tone was weak and feverish, and
after nomcntary spurts at the opening
and at the end OF tho first hour pSees
steadily receded TO the close. London
WAS not factor to any apprecaole eA-
tent and the final rallies were entirely
due to covering of shorts. The volume OF
business was moderate with Sugar and
St Paul leading IN point OF activity. The
other shares recorded very slim to;als
with the exception of burlington and To-
b0cco. There was no news bearing upon
values aside from reports of further cut
ting of railroad rates at various points.
The opening was strong and fractionaiy
higher with the International shares re-
spending ndiifercntly TO Improvement in
the London quotations. A selling move
ment soon developed and the active
Stocks sold oil with Rock Island scoring
an early exceptional decline OF L. per
cent. st. Paul and the induS.r.als were
also under pressure by the traders.
slight rally occurred before noon, which
was quickly followed by "a renewed bear
activity and Il decline ensued, which con-
tinued TO the close.
Lake Shore broke L. Tobacco 1 is,
Missouri Pacific and Tennessee Coal \.
and fractional losses were recorded in
ut the lowest prices showing net declines
of l-2n2 per cent. The drift of the mar
ket for the week was toward IL lower
level and at intervals the speculative ten
over the illness of Cornelius Vanderbilt.
by the bears not on on the vandereil
group but on the general market, break
in the government bond market. an ad-
vancing tendency In foreign exchange
mark, exports of gold aggresating
S,3il 800. In addltlon the h,ars made
capital out of the extreme depression in
the prices of farm products, the dnllncss
of general business and wholesale cutting
Of railway rates. London was alternately
n buyer ANA seller during the week,
but ON the whole exhibited less appre-
henson over the situation than the local
investors and spectators: The gold ex-
ports In realty foil several million dollars
short of the bear estimates, but the con-
tinned strength of the exchange market
was believed 10 foreshadow further ship
| menls early next week. An advance of
Il cent In posted quotations for sterling
was Renetally made by lcai.ng dealers
and actual rates rose TO $tS9 for demand
and i;ss IL for sixty days bills. The mar
ket closed firm at the quotations noted
An extreme decline OF to per cent In
the new governments is coupon exerted u
decidedly nnsettling Influence, but heavy
Investment buying on bonds, both IN and
outside of the exchange. followed. and
was attended by unsubstantia.ed rumors
Of n pending new government bond issue
j MS Inst report served temporarily to
rally the market. The bonds left of at
III, as compared wish ZIG a week ago. The
declines IN price covering the entire mar
ket ranged from to per cent the low
est level being reached on Thursday fore
| noon. In the later dealings a recovery of
l-2u2 per cent occurred. but the closing
was only shade above the lowest OF the
week.
Railroad bonds during the week sympa-
| thi2ed with the stock movement. The
sales were $5,717.ho0.
| New York July ls-Totai sales of
stocks today were 1895 shares Including
| American Tobacco, $500: American Sugar,
200; Burlington. 600
FINANCIAL.
Galveston. Texas, July IS Tn the local
exchange market, sterling sixties. buying
| Sass, selling $3.50, New York sgnt bnyinE
| isc discount. selling W premium. Amer'-
| can silver, buying Sc discount. selling at
par
New York, July lS.-Stcrling exchange
bankers sixties. AS7$,Mi.Ssi commercial
| NSis: reichmaris, 95 SIS; isnncs, bank
ers sixties, 5l6ls: commercial sixties,
5.l7is.
New Orleans. July lS-sterling ex
change. commercial sixties. AsGs.If.Si4
francs bankers sixiies, b.l7is Less l-l6
New York sight. bankers, Sl.5j premiun
commercial. 25c premium.
| Iondon July lS.-i}ank rate per cent;
street rate. 5-s per cent, silver, 81 3-sd; con-