The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1897-11-07
MONEY And INVESTMENTS.
Transactions Of a Day Among Wal
Street Operators.
ONLY SLIGHT GAINS WERE MADE
London Can he Easily Manipulated
for Eject ON the American Mar
kets and II IL Being Done.

New York, November 6.--There was
sohie natural tendency toward recovery
in pr,ccs at the opening today. in view OF
the heavy and rather excessive declines of
yesterday and of the covering movement
IN pre- 81 ess ait the close of the market yes
teiduy. There had been a recovery in the
prices of Americans on the London cx-
charge before the opening here. The
opening there showed declines to the New
York parity, but the level was sharply
above the New York level by the time
the market opened here. This encouraged
purchases here and a number of stocks
opeied over point up. The London mar
kct for Americans has grown so narrow,
ana the floating supply of stocks there is
so small. that prices there are easily sub
jet TO manipulation for effect n opening
here. There seemed to be ground for
sus picion that this mornings rise in Lon
don was due to some such effort from
this SIDE. AIT all events. the rise which
was thus stimulated here led to quick
taking of profits and TO some further
l!ccidi,tcin on long accounts, carrying
prices below last nights level. They hard
encl eaa.n, but cased OFF finally, leaving
fractional net gains in the majority OF
cases.
The decrease in surplus reserves SHOWN
by the hank statement induced sctne cell
ing, though the Change was due in greater
part to the heavy deposits and the conse-
uuent raising Of the legal reserve limits
than to the actual decrease in cash
The week has seen q total loss oi a
considerable part Of ITS bull operators. On
Friday there was heavy liquidation of
long Holdings and sharp declines In prices.
and also. so far as appearances go, no
buying supper. Tor STOCKS al any oonces-
son. however violent.
The principal motive was fear of war
with Spain on account OF Cuba The de-
pre- ss.on took on rather an artificial ana
fevcr.sh tone before the day was over,
and absurd,y sensational runners were put
shorts covered. These ircidents. coupled
with today's recovery, are significant N
uications of the elimination Of a marked
NOV enent, just as heavy buying, clrcula-
ton OF private Views. sharp rises III
prices and the stirring UP OF dead stocks
are techncal concomitants of the cumina.
ton OF a SUSTAINED rise. The declines for
the week have reached 10 points in Sugar,
bas In New Jersey Central and or over
all through the active list OF railway and
industrial stocks. SUGARS special weak
ness has been due to the serious i1nesS
OF the president of the company.
The decline of prtces has continued now
practically without amy interruption of
importance since the second week in Sep
TENDER. On September 10 the average
pr.ce of twelve leading industrial stocks
was S5552 share. last night it was Si5. 73.
On September IL the average price OF
twenty active railway stocks was about
500 81 snare and last n ght the average
price OF ullc same stocks was Sj7 -. 1t IS
an fnvariab!e rule that an upward course
OF prices IN the market does not terml-
hate nntli IL has apparently exceeded IT.
sen ana reacticn IS certainly in even the
Lace or continuing favorable conditions.
ne rise which eliminated in the second
week or September can be traced 10 its
scGfce In the latter Part of July. There
nae deem an Improvement before then ard
speculation on the prospect of business
rsNval but the final passage of the tariff
pill was accepted as clearing the INDUS |
r'di scene and giving settled conditions
10 work. There was some reaction in tho
prices OF stocks after weeks of protit TAX
-HE' put Tor the rlCst part the course vas
upward from that tirlc to the culnina-
ton. The growth OF a bountful harvest
and of an urgent demand for our products;
ABROAD were reflected IN the hdrl.9sh mar
ket dtr ng that time \ COMPARISON of
pices OF leading stocks ruling TODAY with
those ruling on July 81 last shows inter
esting RESULTS. Generally speaking. IL may
DC DC SAID That prices have about re,racsi |
lheir coarse to where they were before
the late marvellous increase in traffic ana
earnings during that period.
,boNlS nave been less affect by dspres- |
SION during the week than stocks but |
prices nave shown sympathetic declines. |
o J,neJu states registered fours have de-
ciIned q during the week
TOTAL s3tss of stocks today were IN, so, !
ss di including st. Paul l7,753, Sugar IL
w, tennessee Coal and Iron 3OS5
lne range OF prices on the active stocks |
.ouay, together with the close yesterdav
:. Crepor.eu TOT The Post by b. w. Hunter |
q 20" Is as follows: