The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1897-04-18
MONEY AND INVESTMENTS.
The Days Dealings Were Profess
sioual-- Market Narrow.
GENERAL REVIEW OF LAST WEEK.
Trading Has Been Light aud De.
pressed Influences Were Felt.
New Record ON Cali Lonns.

New York. April 1.-THE tendency OF
prices downward today was only inter-
i'iPted for a very brief period and no raj
, lies of any Importance occurred. The mar
ket was embarrassing and very dun being
u short trading day and coming after a
holiday. The fact that the foreign ex-
changes were closed ana would remain
SO until Tuesday also had It's effect in
curtailng operations. The market was
harrow and the small dealings wholly pro-
| iesslonll and in the specialties largely
| miMpulative. The International stocks
continued to manifest hoaviness and some
| sales oil these stocks We're made for Lon
don account. The rise In wheat was in
terpreted as presagllg a bell. gerent OUT
come 10 the dispute in Sou bhwestern Eiu-
rope, ana this WIS used as a bear urgu-
ment. The price of railroad stocks NOV
| ing contrary to the price of wheat. as has
| been the case in connection with war news
from Europe recently on several occa-
sions.
The grangers are usually the exception
| aad Burl.nston advanced small fraction
| at one time today and suffered u smaller
| net decline than the other grdngers. 81.
iaul suffered from the showing OF Joss
| OF sS6,SiS in Its estimated gross earnings
| Tor the second week in April and North
u
| common TO the other Vanderbilt stocks.
There was a falling OFT In activity in
| Sugar ana very narrow fluctuations in lis
, pr.ce. Chicago Gas continued TO be the
! center OF activity IN the market but its
| fluctuations were without Significance
| other thin professional, the price reccdiDg
IN the face OF buying by interests mat
! for Insiders. Northern Pacific enjoyed !
| period OF gain at the opening, but after
| wards succumbed a point. Losses on the
AZ, Ia "A In he az nt
| bacco and Chicago Gas, rs in New York
| Central, u in Northwest, Susquehanna
and Western preferred and Tennesses
| Coal and Iron. and 5-S In Rock Island.
| Omaha and st. Paul
| The market for stocks has been dun
durtlg the whole week and the weeks
| transa ctions has resulted in a decline ~
| the price of railroad stocks of from / to
| ~ points. burlington was An exception
and gained is on the week. The Grangers
| as a group enjoyed some advantages over
ths general railroad list. the threatening
| aspect of foreign affairs ana the strength
| In the wheat market being rather in their
| favor Although the general list stocks
! respond unfavorahly TO warlke news
| from abroad on the ground that all prop
sulting disorsa ni2ation of credits. the be
| LEI is general in Wall street that the
value of property generally in America
would Inc1telse ultimately il. th' event OF
war abroad
. This decline en- the week has been ac-
compan:ed ty an almost stagnant conLl-
s.9 of ir2dsg asdn nd m sy on onS
/ one or two occa sons. The dulnass was
/ in part due TO the short week, win the
Good Friday !ntermission ana II me e 19s-
urday. This had the effect Of d'seouraEing
| traiing on the days proceedings. mo
| transactions on Saturday being largely
confined to evening up of contracts. The
| dulaess and the heavlness which 1t ac-
| centuated had the effect OF nuilifrinP one
| or two factors. which We're looked to
Spn n hyoq lemlu,l
Prices have been more or less dom'n-
a,cd all week by The reflected depf.ss on
! from the London s-ocS EXCHANGE whsre
! rot only the Eastern question was "A de-
| pressing Influence, but also the demoral-
/ izaFcn in Kaffr securities and the Whis-
! fo,Iinf- -romoters. The revelations that
have been made, of fraudulent ir ran
/ tions by bogus brokers ana of the as
| founding dimensions Of the business done
! by sure-thing advertisers. has been
| somewhat depressing 4atlue,lcr on uu1i
market narrow and almost entirely IN the
! hands Of professionals who 'cok adYnn,
tage of II 10 manipulate one or two stocks
! so as to stu further depress prices -.
The effoc: on prices and on the tone o,
! thc market OF the New YORK Centttl
| bond ng operation announced on Ntut,n15
! dey was disappointing TO those VINO 9a r,1
drawn n parallel IN their taiuds WAN , ~
! l.pke shore operation aud lts reSul66;, - -
| Lake Shore issue OF NOOlOWo al o12 p,
| cert interest WIS lpIlU" - ~
! n broadening of demand ms mad nor been
| Witnessed for many months, ana was
| Only stopped by the anhonncelncht Oh WY l,.
| court The New York Central re-tuliu.if
was practically a foregone coicsus s
from that time and as maT W o in al.
vance since then. The POSSIBILITIES OF re-,
furdlng in OTHER properties hdve a'So
been thoroughly canvasseu, ana 'i le I'd Cd
ai.fon IN This. the size of the New YORK
Central issue-Sld0,oy0 90 in add Ton 10
40 o}0 900 for the Harlem property-ahu
thc fact that A5QG09oo is to be usol Ios
new construction after 1903 caused some
fears that tho ADVANTAGE to accrue 10
the stock by iiXed Thnrges mas oeci' an IN Il,
New York Central after the formal an
uouncement of the contract Tor the sa!s
OF the bonds was dssappofS'meh' 10
The money market et3ll offers little en-,
couraeement 10 those who lend' can
looms have been AT ~ dnrsns inc Wu OK.
situnt!on offers some apparent conlIaniG-
tone, which are hard 20 reconcile ne
prce Of exchange eonNnu,Vs 10 n,, LII" =.
reachlng 4 s7a,M4.sS on saturday inns Is
in the face Of the recent lowering o. ti.e
Bank of England's rsir'mnm rae OF ~
ket rate In London OF considera Niy ta'
ih4n that. Tho foreign trade stale,nsas
for March, issued ms week. i'" rn'ns
the balance ms n5ained IN our fayor ny
large increase in experts rs in sp ~ e o.
no,Its reaching $40 orc ool. Tho increase N
he price Of sterling f%Ghans ,.e a eoga.
lions Cold continues 10 ne shippea ID
japan ena Austria fr G'so, hSna' but little
foaiture during the week and prices gem
orally sassq on win the inteESa.e Th
losses we're largely restricted 10 fractions;
sales $3.50 600. c,o
shares, including Chicago Gas trusi re-
cepts 1850, Burlington $500, ST. Pau "u
NEW YORK MONEY.
New York. Apr1 l7.-Bank clearings sae'-
392 10: balances s5,732,ss3.
cent; prime mercantile paper Sl9ni per
cent: Sterling exchange steady, WIN -, sc =,
pal business in bankers bills ~ i.hSW
l,Ss for demand ard t;s6hql' VIZ iof $50 ~
a'Sn: commercial bills istM; bar slyer
sa: silver certificates 62as2.i; Mexican dol