The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1896-01-04
MONEY AND INVESTMENTS.
Doings Of a Day With Wall Stree,
Operators.
STRING TIED TO THE BOND ISSUE
rhe Market Maintained In Respouse I,
tho Presidential Action Cotton
Closed Barely Steady.

view York, January 3.--(Special )---Grover
SUI keeps string on that bond Issue and
IS stu keeping the market in the coudi-
tion mentioned yesterday. It was a dull
uncertain market. 1t opened weak, nut
rallied at the close. The money marke,
Is still tight. One million gold goes out,
hut $1,000, 80 is to he imported.
Sixtys Ass; demand 4.se'k.
Silver G;E4, Mexican dollars 52x.
The supply of cotton bills was only
moderate.
Denver and Rio Grande net earnings fer
November were about SIS, 900 ahead of last
year Atohison. Topeka and Santa Fe net
FOR November was about si39, 900 behind
last year
The speculs tior in cotton today was In
tact a repetition of that which obtained
III yesterdays market In almost every de-
tail. The opening was firm in sympathy
with better early Liverpool advices than
expected and prices advanced 40 points
IN the early trading. Comparatively light
receipts at the ports, With the mo, emcnt
FOR the week falling below the estimates,
made early in the week ard Indications
oil proportionate reduction In the weekly
interior movement, with material de-
crease In stocks. helped to stimulate the
market The Improvement, however,
proved only temporary. AS soon rs n
little pressure to sell developed, the mar
ket reacted and by L O'Clock prices had
lost ell the early advance and 49f5 points
additional. The decline was accelerated
by tho reaction of the market for futures
In Liverpool. The pressure to lquidate
by disappointed bulls continued in the
afternoon anc prices sold off further all
around. Heavy Continued selling ora rs
from New Orleans offset the bullsh in
fiuence of lighter interior moverlei, [
than expected and tho estimate of a dc
crease OF 1900 bales in the interior stocks.
Local traders regarded the New Orleans
selling rs indicative of liquidation by the
leaders in thwt market ana they Joined In
tho selling movement. There was an a.
sence of support. with little outside specu-
lative demand, and the market continued
weak up to the close ard closed barely
steady. Spots were quiet at yesterday
figures. sales 1926 bales.
NEW YORK STOCK MARKET.
New York, January 3.-The stock mar
ket displayed sagglng tendency In prices
during the greater part of today and the
speculative movement was sluggish Sus-
pense is growing acute in financial circle q
regarding the proposed bond issue as the
matter had been generally expected to be
closed 10y this time. Foreign cables came
lower previous to the opening here and
The arbitrage operations for London ac-
count We're for sales a reported increase
In the premium on gold as a commodity
to Ia cents bid anu the engagement OF
Sl,O0oO00 gold for export TO Europe to-
morrow also appears to perpleX the pro-
n colt Na1 dan f.aF.a ,,~I,-
the stock tape. Leather preferred was
depressed 1Ss per cent on rumors that the
forthcoming dividend would he scaled or
passed and revived discourag ing sugges-
ticns as to the adverse effect on the
companies business to result from the
introduction of the velocitan process for
tanning leather Tobacco displayed
marked strength throughout on reiterated
rumors, now quite familiar. Of an I'M
pending compromise with the independent
manufactures involving advance of a cent
a pound in Battle Axe" plug brand.
Whatever the merits of the reports may
be they occasioned n stampede of tho
shorts to cover, resulting In an advance
OF 5H per cent to 81, with the improve
ment most marked in the final hour. The
buoyancy OF this specially had a strength
ening influence on the. general market late
in the day, which was helped by decided
ten cncy towards ease In call money rates.
Recoveries from the low points were nc
cordlngy ranging from l TO 2% per cont
in sugar, St. Paul, General Electric Man
haitian, New Jersey Central Tennessee
coal. leather preferred and Baltimore and
Ohio. The closing was slightly more ac-
tive and was firm In tone. Business in
railway and miscellaneous securities were
moderate today with lower prices ruling.
Sales 81, l16 0D1. The recessions were headed
by Baltimore and Ohio fives, 1925, which
fell i0ls to 20 AMI Baltimore Belt firsts.
guaranteed, 97s to "a.