The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1897-03-17
MONEY AND INVESTMENTS.
Doings OF . Day with Wall Street
Operators.
HEAVY RAID ON MISSOURI PACIFIC.
IL Touched the Lowest Price ON
Record. hut Recovery Of All Loss
Followcd-Ilonls Irregular.

New York March le.--'rhe opening OF
| the stock market gave every promise Of a
repetition of yesterdays course OF events.
The strong buying move in the Wander
bih properties, which gave an animated
| strength to the whole market, was re-
newed at the opening. The bears were
face to face with a rather serious situa-
| ton ard they opened up ehcir olm,saigu
| to check the advance by pressure on the
| granger shares, using the reports of an
| uniavorable tenor regarding crop pros
pec,e and tho poor traffic prospects on
account of snow blcckades on country
| roads In the Northwest MS material IN
| trade. The srangers were IN consequence
somewhat depressed and dealings III them
set on Bn, the heai faction found a Jar
more effective instrument in N ssour. Pa.
| cic. which was made the center of at
tack. There was no nis.aking the per
sls,enry and purpose Il When reports
were KEPT In circulation calculated to dam
age tho credit OF this company. rAey
were To the effect that Il would be unable
To meet interest chSsEts accrnlns AT an
eorly date and woufd. In consequence, 40
into the hanus OF a receiver. tndec the
influence az these runners tho s,Ock fou
, ceGtnuously the decline covering 81, per
cent and the stock touch ~ Is. the luweSt
price on record. the consolidated per
vont tonds ot me rund N.fe cnered al 80
| end The collateral lives ml %, against the
preceding transactions at 81 AMI ., re-
speotively The collateral iivoS later sold
al 5J. THIS weakness exertod a decidedly
react!onary iniiuence on The whole list.
Wabash preferred displayed the most act
I've sympoithy with Missouri pacshc, being
unusually active ana showing u drop OF
l.. VAN recovery OF a,
The general mRrket also Sympathized
with the decline IN Missouri Pacific. The
deciita was at an average OF y. l.acka-
wanna, m Opposition TO the current OF the
narlHet In the coar7rs. which were heavy,
rose " to 1H,s. There WAS q very nota~
Bile falling Off In the volume of the trading
on the decline. There was, however soma
ltcavy liquidation In Missouri PHc.hc many
stop orders being uncovered. The contin-
ued drop elected formal statement from
President George Could to the effect that
hs runners 81 sey,1shg We're "a %p1 se
bopdholders wish to cash their April cpu-
pons now" Mr., Could sa.d. II will buy
the coupons at their face value, charging
the per cent interest on the money thus
advanced" Mr.. Gould added; I'm my
opinion the attack on the stock and the
reports of receiverslp are the result Of
desire to cover short sales In other
stocks. The operators on tho short side
OF the market can noa make money now
that the country has started on the march
Upon the publication OF this statement a
recovery set in In Missouri Pacific and
eventually all the loss OF the early part
of flrc day was recovered. the general
market ALSO responding no the improve
ment the fnni pr'oes beng in many cases
the best Of the day.
The course of tho industrial shares was
largely ind.spcnderN OF that OF the other
lists. Sugar was depressed fraction NJ
the opening, but very good buying Gle
ment get IN on the strength OF estimates
% rronts possible under the proposes
Dinglcy tariff. The price saggel TO lliFs
oN divlcrd, but rose later 10 ll3 IN The
Rubber shares were strong throughout on
| Boston purchases. the common s'sing rs
| and the preferred l as. The total sales OF
| stocks aggrc.yated about 2310O shares
| and Of these Sugar ara Missouri faoihe
| absorbed over ina 001 shares.
| The bond merke. moved irregularly on
| moderate transsctlons which included =
| Wide. vnri,liy Of '.sues. The undortone OF
| the market however, was iirin and I'm.
rcriunt gains were registered In some
cases. Wabash seconds were not lily
heavy and broke per cent iron Noun
tain fivcs foil of s'4 per cent ON rpuors
all ecting the interest disbursements. but
subsequently recovered the fraction. sales
s1.4GO,on0. ooo 90,
Total gales Of stocks today We're 22s,Gis
shares, ircludlng Sugar 53ioo, Missouri
Pacgfic 55.SV0 81. Paul 95VO.
FL: -rA1..
Galveston: Steri..s exchange, Cos. 81 "
| huying s4H selling; New York sIght, Sc
discount buying. Hc premium selling; New
Orleans sight. lsc premium selling. %c dis-
New York: Sterling exchange bank,
ers. sixties, N.sSli; commercial S a,'.,e
SlSJa. CONNIE rcial sixties. sb.ls 3-Sp5.1SN.
New Orleans. Sterling exchange. com.
ncrcial, sisiHNts5, francs. commerclal
MUM commercial. &c discount.
London: Bank rates, per cent street
rate. ~; rate on silver, ~ o-sd; consols Tor
money. liz l-16.