The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1897-10-01
THE STOCK MARKET.
DETAILS DID NOT DIFFER FROM
THE TRADING OF YESTERDAY.
Prices Were Raided Down and the
Declincs Invited Large Oncrinss.
slight Rallies at Times.

New York, September 30.--There was no
sign of anything In today's stock mar
ket to give encouragement to the hope of
those who profess to believe the market
has run its course SO far as a reaction is
concerned and will resume its upward
course. Details did not differ In any ma
terial way from yesterday. Prices were
raided down with great facility and the
declines invited large offerings. The slight
rallies which occurred a few times, on
the contrary. led to an almost total cessa-
ton OF adhvity and the upward course OF
prices was hating and difficult
The decline achieved today is very much
greater than that OF yesterday because
the bears reserved their greatest efforts
for the last half hour Of trading, leaving
no opportunity for recovery before the
close. THIS was apparently owing to an
excess Of confidence on the part Of the
bears. who were content to leave their
shcrt contracts uncovered overnight In
stead OF realizing immediately. Ine mar
ket continued Amos. wholly professional
and the dealings seemed TO be conflned to
the room traders, except where the sharp
declines brought out stop LOSS orders.
These were IN large volume and aided niit-
tcrially In the decline. A feature of the
day was the reversal of the position OF
the operators for London account, VINO
were sellers today. London pnces also
came lower, and this was said TO be due
to resumption of the selling there for
New York account which was 30 persist
entity adhered to up TO a short time SINCE.
Some Of the selling In London was attrib-
utet ITO PARIS orders.
The statement of earnings of Burlington
for August had been expected to cheek
the decline in prrces, but favorable as IL
ell. but exaggerated reports of the extent
of Improvement had been put in circula-
ton for effect on speculation. The actual
result, showing an increase In net earn
ings for the month of s344,276, Is ample
indication CT the enormously increased
traffic which is beng handled by the rail
roads. Weekly earnings to hand for the
third week OF the current month were
equally encouraging. the Improvement ex-
tending TO even some of the soft coal
roads. which have long suffered from the
depressing condl items in that trade.
The resignation OF the Spanish ministry
and the prospect of liberal government
In Spain was accepted as tending to ameli-
crate the condition between that country
and the United States and news that
conclnatory proposals from the insurgents
OF Cuba had been received alt Madrid also
tended to deprive the bears of their pet
weapon, the Cuban question.
A decline in sterling exchange of &c in
nosted and NC In actual rates brought tho
price appreoaby nearer the gold import
point and was favoring factor 10. in
creases in prices, as were also'a slightly
easier tone TN the money market and q
Somewhat reduced volume OF clearing
house exchanges. The bears forced de-
cline In spite of all these conditions and
made especially fierce raids on special
stocks. Practically the active list shows
a net loss OF over a point and in very
many cases more than 2 points. The gas
stocks were the features of the days
trading. the nat decline in Consolidated
being IA, In Brooklyn 2ia. in Chicago Gas
.is and In other gas stocks Il fraction.
Manhattan was under heavy pressure and
lost 2&
Railroad mortgages on reduced deal
ings: held firm against the decline in
stocks. Total sales reached 81, 225,Q0O Gov
erlhment bonds were strong There were
sales of the fours coupon at i25nQyl25N.