The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1897-09-29
THE STOCK MARKET.
ASTONIsHINGLY DULL AND VOLUME
OF TRANSACTIONS SMALL.
Large Buying Intcrests Have Re-
tired-vigorous Attacks on the
Coalcrs.

New York. September 2s.-Today's mar
ket fer stocks was astonish.ngly dun at
times ard the total volume Of transac-
lions as low as that OF yesterday, and
was smaller than for many months, the
total sales numbering on,y 10000 shares.
1t became evident that yesterdays dull
ness could not be ascribed to the Jewish
New Year holiday. 1t Is, in fact. obvious
that the large buying interests which have
been so powerful a factor in the recent
bull movement have retired from the field
for a t.mo ana orders through c0mmiss on
houses, the melum through which the
publc at large operates, have shown
corresponding failing Of. There are some
who believe that the large Dull operators
have an,gdy liqu.datcd their holdings and
taken their profits. Certain II Is that
there was no evidence in today's market
o. ally heavy tIer.ngs of long stock. Inc
recent, conspicuous bulls nevertheless
seemed 10 acqulcSce and offered little OPP
position to the bears Practically all of
the professional room traders have turned
bears AMI their selling Is called short SELL
ing. Their most vigorous attacks today
were directed against the ccalers, on the
assertion that the anthracite companies
have been exceed ing the output and there
was 40 Increase in demand that made any
advance in the prices likely. Some OF tho
prominent industrt1is ard the grangers
were also under pressure Whatever
sIurts OF activity were shown during the
day were on a downward course. and amy
steadying OF the market and recovery
brcugnt intense dul,ucSs, indicating the
weak underton- Conditions, neverthe-
less, all day pointed u further increase
in real values Of property. Railroad earn
ings all continued 10 show Improvement.
For the third week in September Norfolk
and Western reported AN Increase OF $685.
7ai, and Baltimore and Ohio Southwestern
Tor the same period reported an increase
OF 1920. The August statement of the
Atchison company showed an increase of
total income from operations of s2l3,5S3.
Lordcn sent higher prices at the open. ng
and was buyer Of stock all day, pre-
sumanly to meet tho settlement which
was n progress there.
The report that the government has as
scented to tho foreclosure sale of the Union
Pacific on the terms proposed by the re-
organization committee with only slight
mcdilcation created a demand for the
stock OF that company, and served to
steady the LIST generally to some extent
1he development of interstate exchanges
N the money situation caused a hardening
tendency OF domestic exchange on New
York at some Western ceNters. ind catisg
some relaxation, in the drain Of New
York money reserve. Local money rates
however. continued firm on foreign ex-
changes today. This stoadiness of foreign
exchange is attributed to the covering OF
recent gold tmportat.ons at San Fran
CISCO. The ret losses on the day extended
from q fraction, up to paints. the high
prcel industrials the coaters and grnng-
cis, being the most conspicuous sufferers.
Consolidated Gas lost points net. Sugar
~ and Chicago Gas oi5. LaCledc Gas.
Cotton OF preferred and Cleveland, CirS
cirnaii, Chicago and ST. Louis preferred
show gains OF a point or over
Ponds moved in sympathy with stocks.
I9tal sales Were only sl,5Ol,ono
Total sales of stocks today were 40 50o
shares, including Burlington 3i,3i2 Union
Pacific 1884, Chicago Gas 23.526.