The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1897-09-12
! YORK STOCK MARKET.
- Of the Trading for Wee,
Past.
|1oNE WAS STRONG YESTERDAY,
IN the Southern Group I'm.
xorsbIy Affected by the Yell
low Fever Reports.

york, September 1.-THE general
a. the market for stocks was strong
and there was no heavy pressure
.,,rtng sales. But there was more
a weakness at different points scat
through the list. The Northern Pa
issues were heavy on the confinned
,,~,,st anowing u decrease and the
rscrease in gross earnings, amount
= s12 lg4 This showing Is In marked
AL 10 the heavy increase which Is
I Nv other railroads. almost without
btton. Some of the roads In the
bern group were unfavorably affect
fear that yellow fever quarantine
interfere with their traffic, and also
. government bureaus report of the
S,nrable condition of the cotton crop.
erect was noticeable in Louisville,
hern preferred and Mobile and Ohio.
buri was under more or less pressure
rofit taking. The Coalers We're also
the Reading issues being under
lure to a marked degree.
bulk of today's trading was Gen.
In the grangers and Kansas and
Z. and these were strong, with the
,tion Of Chicago and Great Western
Northwestern, which closed at frac.
Decline. Kansas and Texas pre-
IA closed at a. net advance of IN The
in the list generally was some-
mixed. Consolidated Gas advanced
he time 3 points, but closed at q
(ional decline. Manhattan ranged
over points and lost fraction
Toledo and Ohio Central rose over
lnts and pullman points. Brooklyn
In Gas gained 3 points. A feature
e day was the sharp recovery of sill.
BIZ I'D to 25lsd. and 1c, to 55c, in New
This was due to the decision Of
Bank of England authorities to hold
hfth of the banks reserve in silver
ly's price Is I'd above the lowest in
lon and 3iac above the lowest In New
week In Wall street has witnessed
resumption i'm force of the bull move.
the buying through commission
les being again in full tide. Evidences
abundant also of buying on large
for individual and corporate hold
Of capital. There has been abundant
baton Of other large holdings whose
ers seemed content to take profits and
se belief is expressed that prices In
Ing stocks have advanced as far as
anted. There Is some ground for a
Il that large blocks of new securities
organized companies which had come,
the hands of large capitalists through
memberships in underwriting syndi-
have been passed to other hands
e current boom in Wall street. Offer
have ell been well absorbed. what
reaction was manifest being usually
sered before the trading day was fin
The weeks speculation showed re-
I'd activity in railroad securities, while
Industrial speclalties were least prom
/. Then manipulation boosting of
ndividual stock which was feature
kst week has been absent this week,
pt on Tuesday, the first trading day.
b Northern Pacific preferred was thus
dyed. The development of new fac
OF strength in the general situation
done away with the necessity for this
hracer or artificial stimulant to the
ket. AS the London market Is nearly
pped of American securities, much OF
buying has been In the New York
ket direct for the foreign account The
)ly Of Americans in London, has in
become so small that they are easily
tied by manipulation, and the course
heir prices is no longer accepted as
BILE index in New York. That the
sales of American securities by for
ers was encouraged and aided by
banking and financial interests with
ew to their effect in checking gold
rts to this country and keeping down
money rate to London. Is now fully
lifted. 1t Is much doubted whether
expedients adopted by the Bank of
land to check the outflow of gold by
racting loans and raising the discount
VIII be much longer successful. This
Is Handicapped by its own desire to
down the money rate IN order to ia
tie the success of the India govern
loan. But the evidence of contin-
heavy bank clear,ngs throughout the
ga States Indicates that uses are be-
found for the surplus money This is
lemented by today's statement of
York clearing house banks. The de-
Sc OF N,V1S,000 in the stock of legal
ers indicates that the contraction of
orty tn. 1,,A 30 . ~ i f@,.
y from the interior. Meanwhile the
aTge market has grown weak again
onerings OF spot gram bills and cot
futures are heavy. The most import
event OF the week was the action OF
St. Paul directors in declaring an
dividend of per cent, bringing the
distribution up to per cent. This
led both st. Paul and Burlington
than per cent above par. led to re
co buying of the grangers and
ngthening the whole railroad list. The
son TO pay per cent on the adjust
bonds of the Atchison company was
strengthening factor. The enor
increase In August gross earnings
by the Illinois Central, Missouri
nc, New York Central and other roads
me most substantial encouragement
ne buying.
Financial Chronicle estimates the
increase for August of thirty-eighf
reporting gains in excess of $4,000
foSs $50 The hope that the strike Of
coal miners was near TO a settlement
an encouraging factor, as was tho
prospects reported in the trade re-
yellow fever had a somewhat do
sihs influence ON Southern railways
'sv.lie declined 2k during the week.
srahgers led the advance, with ST
~ OK Island and Omaha most con-
ous. Gains OF / to points are shown
nsny stocks. Consolidated Gas Is up
o,nts ard Brooklyn Union Gas 1874
Soalers, Missouri Pacific and Wa
snow losses. The Atchison issues
me most active in the bond market
NY and strength was also shown by
troruhern Pacific bonds. Fort Worm
,.DLehver City firsts, Union Pacific,
~, ana Gulf flrsts, Colorado Midland
Gas Paciiic consols, Fart Worth and
rsahne firsts aird New York Central
al al mortgage. The incomc bonds OF
Seh,ral OF Georgia Railway showed
advances ON speculative buying.
,eIIhment bonds are u to q higher
psnd sales, 81, 100.
shsqro atlous OH voau, ~ Ssw Yori today
new aesw !. c gss;, T., 'ssS M-KaT IDS a 9.
Is. ee s 80. illli. racine osof o.: leg
| ~ 1920. 9S 81. & 5. =. zen. Gs il5S
g. s. re-. s~..s, IA southern Ry Is. e4s
-, coup. =. IA lTex.Pac.L.G. lists. 3D.
iso,, ~, 20. s9ssiTex. Pac. Rg. 2is. SM
au]. 49,. 6vss "a nIon Pacific lists l1lis
ss a a.. iOs Y. + ID. 4 G., Isis. 4al