The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1897-03-10
MONEY AND INVESTMENTS,
Doings Of . Day with Wall Street
Operators
DEPRESSION IN SOME SPECIALTlES
Good Inquiry Developed I'm Rail-
ways. hut the Gains scored We're
Generally Lost-Bonds Higher.

New York. March e.-The special feature
of todsy's stock market was the vafleu
movements In the price OF Manhattan die
to conflicting repoNs regarding the action
of the executive committee on the rate OF
dividend to be declared. Before the meet
inS OF the committee the stock rose y to
s6is, apparently on the belief that the
regular quarterly dividend OF IA per cent
would be decided upon. The announcements
that the rate had been reduced to l per
cent caused a fall to 81; then there was
a rally. followed by Il renewed decline 10
So the close being at sA,. or a net deciihe
for ,ho day of LIS. The stock mas peeh
sGbjec. 10 continual fluctuations Tor soiil'
time past on SUBSCRIPTIONS OF u rel"ct-oH
IN the dividend rate relative 10 tne ue-
crease in earn ngs shown by recent re-
ports of the company 5 business, SO til+hI
the shares had not been selling al leVei
y nmvnsuiate with per cent diFIuSiius'
The fall II prices was not violent. there-
fore. but was sufficient 10 eNeit uv-
cided influence on n market wh-ch WIS
largely confined % professional Opera
tons. Another decided drain on The mar.
kei was the continued LIQUIDATION ~ New
Jersey Central which has continued ever
since the publication showing that me
Lehigh and Nilkesnarre Coal company
had not boAn earning its liked charsvs;
Although the pr.ce Of New Jersey Central
rose Is in the early dealings, 1t broke :
per cent. thus exertiug an uniaNoiable
influence on the marka, ana cOntr.ou nS
10 the general fall of prizes. Tho M1nhIt .
tan decline was reflected sytnpa;hetc4lly
in the price of Western ln.on, IN siSte
of tho dec sion 10 declare the usual quar-
sour: raeinc. which also had an unfavor-
able annual report 10 contend against.
The anthracite coal group also dropped IN
sympathy with New Jersey Central be-
lore me announcement OF Tho agreement
BY which control of the Lehigh valley
losses to the banking interests which al
ready enjoy the financial dire1tion of 9th
81 trtnrAc lie coalcrs. New Jersey Cen
trial recovered IL per cent.
Besides these specific ceuters of depres-
son n the market, the industrials SUI
4 10 some extent from the recommen-
dations contained in the rcport Of the ex
ecut-Ne committee 70 investigate trusts
Mn,ch was presented Albany. sugar
lOsi point: Consoidafel Gas was also
down "a. ana Tennessee Coal ana Iron
was depressed H. per cent on an urfavor-
able interpretation Of The annual report.
The news of hostilites IN crete and the
doubt OF the actual accord OF the powers
as 10 measures for their suppression
dwan"nei renewed uneisincss here and
v's conclusive In etfeciing a downward
course Of prices.
There seemed to be good inquiry de-
ve.Hfd ai ont time during the day In
r. vavs T." r0's Central leading the adj
vance with rise OF point on ihe show
Ing of increased earnings for January
expenditures. and material increase IN
gross earnings for February. The Wander
bits AMI grangers were faVoraby affeo.-
ed also and advanced fractioualy. OF the
active stocks, Pullman. Lake shore and
New Haven elch advanced l. Cotton Oh
~ cferrei and St. Paul and Duluth each .
tho former subsequently rcacting l. To-
haccc also displayed a notable activr y
ami rose Ia on rumors of proposed action
b. the company regarding It's stock. The
subsequent reaction was ! point. The de
f.l ~
hei tho Improvement and the final deal.
.nEs showed a weak market, with n Sigh
fractional recovery at the close. Louis
VILE and Nashville. the spec al hlrometel
of the London market, was the most de
pre sed of any Of the railway list.
Tho bond market lacked feature hui
prices were generally a shade higher
sales 81 125.e0o
T-'1al s,ales of stock today We're 1883
| shares, including Sugar $500, Tobacco Is,
| 300. Manhattan Consolidated 90. 800.