The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1897-06-27
MONEY And INVESTMENTS.
Doings Of a Day With Wall Stree
Operators.
BULLS ARE AGAIN IN POSSESSION
Of Gold subsidized E"riy-Bcars
Tried for "a Reaction.

uonslOn caused yesterday py the volume
OF the gold shipments for the day and the
week and turned again to the bull side
with greater animation and confidence
than ever The market sold of to some
extent In the first hour In continuation of
yesterdays gold export fears and on re-
ported opinions that the coming wcck
would witness the shipment OF an even
larger amount OF gold
| The theorists in favor OF a necessary re-
action in the market were busily ut work
| on this basis and sought strenuously TO
, bring about the reaction which they con-
fidently maintained Is long overdue In
tho market and must come ultimately.
The st. Paul statement for May show
ing an increase in gross earnings was the
first influence to stem the downward course
of prices
The low point OF the morning was a
| slight fraction below last nights close in
many stocks.
The rally was characterized by great
animation and by heavy dealings, the
prominent stocks changing hands In large
blocks Burlington was the leader of the
market in point of activity and was car
ried up Ia from the low point and held
there until the close. Rock Island, which
came next in amount OF activity. was even
stronger and showed an advance OF 2N
from the low point on reports that the
directors were decided on a policy of in
crcasing the dividend rate. Northwestern.
on the other hand. showed notable halt
| ing In Its advancing tendency az compared
with others of the granger group. 1t was
at no time more than a point above last
nights close. st. Paul gained 3s on its
statement Of earnings. but the early de-
cline left its net gain only n.
Tobacco was very active and showed
marked strength advancing 2ls with net
gain OF 2; bun whatever news there was
| regarding the value of the stock remained
tho property of Insiders,
Sugar occupied fourth place in the list
| in point Of activity. but was strong
throughout although under some apparent
restraint. Selling for the account OF a
large inside interest is varlously attri-
buted TO a purpose to keep the price down
as a matter of policy during the pcndency
OF the tariff bill and desire TO realize
| through fear that the schedule will he
altered in conference between the houses
of congress. Bay State Gas fell IA but
fully recovered. Colorado Fuel registered
| further net decline after an early ad-
vance OF fraction.
| Net gains in the case OF Rock Island and
| Rio Grando Western were 2ls; 17s In
| Brooklyn Rapid Transit: 3-S in New Jer-
| sey Central. IA in Burlington aud point
In Chicago and Eastern Illinois preferred.
Consolidated Gas. Pullman and Con-
solidated Ice.
! Tho week has witnessed further no.
table rise Of tho level OF prices, the ad-
vance being especially notable in the
granger group and not being so well dis
tributed through the list as In some proyi-
ous weeks The market ms - Who'll. I'm.
firmly resisted all attempts TO work n
reaction, the scverest strain coming on
FRIDAY with the news that the weeks gold
Shipments had RIM i'm IN "a N,nre oycsed
ing any week since tho nrs, NJ ,h. nrcser,
movement, The present high level NJ nrices
is generally recognized az discornttny co,,
mercial and industrial imnrnycments which
are vet TO be realized nut Tho trmnass
with which the high prIces arc beId Is
a measure OF confidence of security hold
ers that future conditions win imnrove
10 warrant higher prices The advance IL
spoken of as s,eady. which is true M tho
average price. hui the whole marlet has
not moved uniformly. Al times soIne ono
stock has taken the lead as has been the
case In a marked degree with Northwest
crn this week on the prospect of refund-
ing it's bond so ms To beneNt tho stoct
Sugar made n similar bound on tho agroo-
ment of the republicans upon the sugar
schedule several weeks apo. These sne-
cial movements have helped TO raise The
level OF other prices though in legs degree
The grangers and VanderbiIts. as gro,Ipe,
have at other times assumed the leader
ship Each day also has witnessed lis own
lrregularity. the vibration sometimes
carrying prices generally below The nroyi-
Gus day with a rally and sometimes above
with n reaction. Tho result has been To
make the average net changes small hut
almost invariably on the side of advance
like the tapping waves In a rising tide
Many professional operators are confi
dent that the level OF the market has adj
zyur raHt fa,