The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1897-12-25
THE STOCK MARKET
GENERAL AND SUBSTANTIAL GAINS
WE'RE SCORED.
''"'e"e"t WINS ms Expected.
H"r'"cr Importation OF Cold ilx-
peeted--ForciGn Exchange Low,

New York, December aI--Tbe loc,l st.o,,
railway companies, which have hocr -,
noticeable feature In the stock market
an week opened higher this mornin,. M,
continued TO advance dur5ne the aoy clos
thB at me highest. The great buoyancy
III phese speciaites spread through the
'1sl' f'achins First the securities Of other
ioVai corporations, then the industrial spe-
cla'ues generally, and FINALLY tho railway
iist' rhe level of prices in the industrinls
ana IN the sramScrs at one time rose from
! 70 : per cent above last nights close.
The high point was fully maintained ana
az the close general and substantial p,,n,,
were the rule. DURING the afternoon tho
market took on distbnctivey boli,a,,
character and fell at times into st,,,no.
uen' prices yieldmg sharply, but beiny
restored by tho final stitching In Nero
politan Street railway and Third Avenue
there was no particular news 20 acconni
h ior tns movement OF prices, thousa tho
palsK statement, with its further decr,a 81,
OF over Sio0o,0o0 in the surplus reserve.
it'n the effect OF checking the ncttvft,'
~ tne mait<et for the time being. Ia faci.
the market dpd not magntain the same ~ >
imation as during @lhe remabndrr ~ shn
udy, oven with tho statement which am
hoM,eet Uptt an agreement for shinmsnt
No england OF SS@Ro in gold had been
The. baalk statement was anon, vvho,
WIS expected and reflected a portion or
ias, weeks Union Pacific operations .,ot
uNiuded 90 last weeks statement, no
Way Shipment OF gold, while h lndl-
| ciNes certain relief available in r,se ~
i,uldue Strlnsency In tho local money mar
Net, also hldlcatea tho belief that Tho
pre's ~, naiYness OF money rates Is likely
10 eaunre FOR considerable time WIN.
OUT relief W has come TO be vtnerailv
recogiiised that large Imports OF gold VIII
pe nVctssaly 10 settle our exchanges bai-
NJ ~ WIN EUROPE But the present hard.
ness OF money here should he OF shor,
unra'loil ANA would thus defer the ro,S
noNemelit as long as high rates ,sontinne
NO ", prevaii N London an1 Berlin, There
WINS announced that there would 10 fnr'
tnnr g9id importation next week
I'ha stock market has been charac,,c,s.t
OF ,he PERIOD immediately preceding Tho
noHdaSs. The deai'lgs have aver,rad
less than 200,ol0 shares a dav and s ,sn
movement of prices has been sluggish ,,nJ
narrow, except in special cases m, de
, cine was due 10 the incllnation 10 close
w accounts before the end OF the vsa,
ana partly to the neglect OF business =,
l1avor or pleasure during the h,,jdava
inere = a natural tendency for prices to
s ,y m such 9 market, bu, they have
nave frequently recovered o
I'rlces were purity sustained he tho
s,r,iista u individual stocks due 10 rne
.lsa causes. aslf partly by the decline az
s ,I Tears Of any vsoaent strlngeacy In tbr
year. 'ts' OF 'he
Statements from the treasury ann,,t.
n meme make u evident that a quantity Of
currency skies are bciisg presenter Snr ~
demotdon sufficient TO insure re,icr ~ w
Ul s,soSs pac afke, from the effects Of the
t.s weeks Payment tabout $500 eIn Ny
an,nvSt 'nso ne treasury, and 4 similar
The treasury Department es,,m ,sn ~
n cissc , for redemption OF the -.
~ ak M ss " 70 December "a win amount
10 70 sinWm The payments hrrstnr.r,..
m tnc Sy The uracn farIIic syndica:e 70
New syys n,sa he are SIN on icoosis in
S ~, The moi.ey market II secured Ssss
.s,, from the Union Rarifie cna
~ M"ne oy Jan'ary !, aftrr which thc 800
PM 81 money wtIl be rcp!cnishsd hv fup-
us H. Ana interest Disbursements ~"
Z. vtionn nAve heea. a'!rAaygcd 50 az n ~
Aet enc a1cther y believed e. hav ~ OIL