The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1897-02-25
MONEY And INVESTMENTS.
Doings Of Day with Wall Street
Operators
AN ADVANCE FOLLOWED BY REACTION
Outlook Was Hopeful Mt the Opening
but the Market soon Reiapsed
Into Apathy-Fracti0n Losscs.

| New York. February 24-The outlook
was very encouraging this morning for a
day of activity and rising prices when the
dealers In stock made their appearance on
the exchange. The market took an up
ward trend from the start, the JndusUials
proving to be the Leaders. The tone re-
fec.ed from the London market was not
calculated TO discourage trading aad prices
OF some OF the International stocks went
ABOVE the London equivalent.
| the railway list SHARED III the upward
| movement, though the range was con-
| ired to fractions. Inc favorable state
inent OF 81 Paul earnings Tor the third
week IN February showed an increase or
s,lu- and gave an impetus to the increase
| an Yates OF railway stocks, especially
the SiAngers. 1t was evident mat the
| tobacco shares had friends on guard
while the company was under inyesti.ya-
! ton by The legislative committee, and the
progress OF the Inquiry was not attended
~ any decline IN prices OF shares, but
IalheI by an increase. Leather waS a
special feature IN the market. ow ng to
nc expectation of the giving out OF the
annual report. The preferred stock rose
on the r'mors OF the character o. the an
iiuhi report and the recession was not
lnmeuately checked oh publication Of the
balance sheet, which showed changes In
ne FORM OF a statement that proved some
what puzzling 10 some Observers. The
early advance of Ia was followed by
it-iSAi'H VI rs, out inc STOCK rallied AGAIN
~ near the close, againa. the current of
the general market. which was downward.
ana closed with a net gain of i, on the
dpy. 0ther, properties which inquired IL,
me carry advance We're: Sugar. N Con-
solldAted Gas, .. Manhattan ]: Tobacco
ana Tobacco preferred, each l. Cotton Oh
Ttierred !, minneapolis Iron opened III
higher and continued to advance without
interruption on the belief mat the meeting
OF iron ore producers would result In profit
10 me company. The net gain for the
In the general market. however. there
w., Mas a lapse INTO aprthy by Ii o'clock. the
u"Sing movement having apparently ex-
rru,dSI Use. entirely SUI sedle't'y re
trtioh set In which extended through The
Etnerdl list. There were various contrib
Ut"ry factors to this movement. The re-
port OF the senate foreign relations com
mlttee IN favor of demanding the uucon-
al r!ll rel nia of Julio Sangu.lly. held N
Cupan prison by the Span SIN authorities.
uW' N"ned some aprreh -1sious that the
NdlutS would be affected by a resulting
strain In our relations with Spain. There
was some selling by arbitration brokers,
attracted by the higher level Of pr.ccs n
THIS ma ste., which encourages reaction
The Anthracite Coal group held its own
arain'' the announcement thar ne Iezis
idtNe committee would undertake an ex-
.t tI' l,' ,nVoa,isation of the an1irs OF
th'sc companies. but succlNnhei later to
the decline and to the special influence OF
"a decline OF l'e IN New Jersey Cen,rai
1
valley In Philadelphia. The decline was
general some Of tho inactive specialize;
bes.'t those already notcl being the only
,Nceptona Manhattan fuctuatcd .rrec-.
uihfly on doubts about the action o: the
directors on the next dividend and the
! 'alple effect on earnings Of the proposed
cnange in motive power. The closing was
Wclk fractional losses being general
tErorEhout the list.
nc Improvement in bond values con-
thues uninterrupted. owing to The heavy
demand for .nvostment mortgages by TIE
utnkS anu other lea. ing financial institute
Tons. the ST. Paul bonds were conspic-
nous TO-DAY and recorded gains OF lI2 per
cent. Kansas Pacific consols also fiuc-
tu1tel considerably, owing TO the import.
alce attach@i to the hondholders' meeting
10 consider the revised allotment under
mo Union Pacific REORGANIZATION plan. An
'N'rltance OF tho changes was an
holncet ana bonds left off with n "a II
OF H.; per cent Some weak snors were
noted! but tho general undertone was
God. with material gains in various H.
silnces. sales sl.tGI On
Ihe total sales of stocks todlv were
l2l12i sh ares, including: Tobacco. u 500,
american Sugar. 2s.SNli Il arlington. q 20
FINANCIAL.
Galveston: Sterling exchange. Cos. 81 50
~ ylnE; Si.S' selling, New York sight, &c
discount buying, Use premium selling; New
Orleans sight, sc premium selling. lsc as.
count buying.
New York; sterling exchange. bankcrs'
fNuos, NS44' commercial sixties sis5;
relchmarfs, commercial sixties 9ia,
francs bankers sixties. 5lSl; commerciai
sixties, 1919.