The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1897-11-21
lIAD IAvEs7AESs,
pplff|BAs TOWARD 4 LOWER LEVEL



under ~ yery wen defined motive toward.
loser level Londous great fire seemed
70 exercise ! rather depressing influence
on that financial center. and for lack Of
another initiative the local stock market
followed tho lead Dealings were on q
very small scale and tho movement 81
prices onsxsde q few special cases very
nafrow. Even Consolidated Ca took on q
4 rather subdued aspect and brought It's va
rsations within range Of points. extra
ordinary moderation for that eccentric
stock. Metropolitan street railway WIS
notably strong ana continued its advance
Of yesterday to the extent Of 2 points ad-
diiional. The local political situations
cited a. being likely to inurc 10 tho bene-
at OF this property. There was no other
notable feature in the market. The de-
clinfng tendency seemed 70 DO somewhat
checked at the last aud the closing showed
some slight recovery on short covering.
The bank statement was without any In
fuence on the trading, as II showed about
what was expected. The increase In loans
- undoubtedly duo 10 operations connect
ed with the sale OF the Union Pacific, the
ART payment OF which, nearly si5,0OO.coo,
~ to be made on Monday. The excess Of
the increase in deposits over that In loans
reflects the return from interior banks
which are depositing Idle funds In both the
New York and Chicago banks In large
volume, Outside OF the special Union Pa
cific operations there ig no doubt that the
loaas Of the banks would show substan-
tisl decrease, as There has been large
liquidation OF merchandise accounts during
the week and the money market has been
intensely duh in all departments BIDDING
for choice grades OF commercial paper has
been very active hit the market has been
almost bare Of offerings. The money mar
kst has not shown the slightest ilutter
over the approaching 100000 payment
To the government on account OF the Union
Pacific ssle. This payment will in fact
amount TO little more than series OF
bookkeeping entries. the transfer of credits
In large part being confined to the books
on tho individual eide handling both ac-
counts. These banks have deposited In the
treasury at Washington government BONDS
to the full amount OF tho payment ms So
CURLY and the government has arranged 30
leave funds on DEPOSIT in the vaults Of
these banks. The stock market has been
o rathor trivial AFFAIR all week. trading
being OF small volume and the movement
Of price slight. The average price of
stocks are slightly lower than lest Sat
iirday and the weakness OF the coaiers Is
most responsible Tor bringing down the
average. Elsewhere in tte H.! there are
few prominent stocks that al,S IL net
change exceeding traction = way.
Sugar and Consolidated Gas ~ shown
the widest variations and has also ab-
sorbed the greatest share OF activity and
interest and the net result Il shown In
gains OF less thun per cenEi Consolidated
Gus has sold az h sh az 1885 and as low
. ". closing al, X points below the
best The variations IN this stock have
followed the mutahle utterances put forth
by an interest whose assent is being sought
TO the plan for merging the local gas COM
panies and IL has kept tho stock quite ac-
tive 10 keep up with these changes. The
net returns from railroads for Ocp3ber,
which are expected shortly. are gad 10
show a very large proportion Of recent
heavy increase In gross receipts absorbed
~ operating expenses In View OF the
drastic system OF retFenchment which was
enforced on many railroad systems during
the past year. II was expected that there
would be arrearaees 10 be made good in the
present more prosperous times.
As natural outcome Of cheap money
and speculative uncertainty the market
Tor rairond bonds has been relatively ac-
tive and the high grade issuos have beer
very stiflly held, resulting in record prices
In some cases Total sales s7.as0000
United States lyes are VI higher for tbs
week.
The total sales OF stocks today were 3d.
900 shares. including Burlington 5sS5. Rocl
Island 1851. Sugar 12.Se0.
The range OF prices on the active stock,
today, together with the close yesterday
a. reported for The Post by b. W. Hunte,
4 Co.. y as follows:
,sA Clos cd----