The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1897-08-19
THE STOCK EXCHANGE.
NO ACTIVE BUYING DEVELOPED
DURING THE ENTIRE DAY.
Bears Tried to Reach Stop Loss Orr
ders-Crop Dn,nawc In the West
Impaired Henviness.

New YORK August lS.--Ihc greater part
of the dag proceedings on ths floor of
the stock exchange consisted 81 a kind of
fencing for position or to develop the po-
SIT on of the opposing elements. The bulls
we're not in an aggressive mooi and there
was not ct any time during the day an
active buying demand. The bulls were in
waiting mood and Their position was
rather defensive. The invitation to an at
tack thus afforded was accepted By the
bears. and their efforts to precipltate a
decline were urwearied. They succeeded
in keeping prices slightly below the level
of last nights closing during large part
Of the day. after u higher opening. but a
hardening tendency Just before Che clcsa
brought the market back to level with
last nights close.
The heaviness was caused in part by the
talk of crop damage In the West and was
In a larger part due to doubt as TO wheth-
err she rise IN prices had not reached
sufficiently high level TO fairly scotnit
the ccndiuons, present and prospective
which brought 1t, though the short selling
'bv the bears was supplemented by sotne
profit taking sales, but the volume of sop
loss orders dislodged was not large. The
aim of the bears Is always to reach those
stop loss orders and thus preciptate a
heavy selling movement. Some adverse
aspects were produced upon prices by the
hardening in tn, rates of sterling ex-
change and there has been some dispos.-
ton to discount the effect of early impor-
tations of gold IN the buying of stocks
The course OF exchange today was In re-
Spouse TO che hardening of the discount
rate in London and behef that the Bank
of Fngland's minimum rate OF discount
would be raised trSlay.
Sugar was actively traded in and the
price moved quite freely over range Of
more than points and It's late strength
xs.aI 70 pfn l,,, t.1I xv.r IN rfptp rat
sensational jtimI on the wheat marE9t
also had a sustaining influence in the late
dealings.
The Southwestern railway stocks were
all notably Arm all day and strong In the
late dealings. 81 Paul was also firmer
than the average of the list ON hts second
hrices are small in most OF the active
stocks. but are mostly gains. There was
a falling Off of over 10000 shares In the
ohimr of trading today compared with
yesterday The days important net adj
,anCes were Sugar. and Missouri Pacific
l. The principal declines were In Com
solidated Gas and oregon Short Line.
The bond market displayed very Arm
tone throughout and did not participate m
the feverishness noted in the stock mar
ket. Trade way rarher Light asd the
gains generally trivial Sales $l,470.o00
Total SAFES of stocks today were S35 COS
shares. includinS st. Paul preferred 81 sl5.
Sugar S045. Chicago Great Western a22l9.
EVENING POSTS CABLEGRAM.
New York. August 1s--The Evening
Posts London financial cablegram says:
The stock markets opened firm here to-
day but close rather dun EXCEPT for
Americans. The iracrive hcl day season
Is al its height. The continusd slump in
silver attracts attention ana st.ver stocks
We're fiat. There we're vague rulmors at
| the close of further bad news from india
The Paris AMI Eerlii, markets were quist.
| The London disrouns market Is easier ana
there arc fewer American bills offered
| since the recent rush.
NEW YORK MONEY.
| New York. August 1s,-Money on cal
| easy at III nor cent last lean rs, closed
| offered at iellA. prime mercantile pare
| 31seIiie per cent sterling exchange frn.er,
| 4 $500. ssh for demand and 4,Ssssi4 .Ss;s
| fer q DAYS; posed rates 4.Sil.p+.N ana
s54 IA. 81; COMMERCIAL bills 4.s2lasJi. 81 s. !:
yer certificates 5i.2 bur silver 52ls; Next