The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1898-03-16
REALIZED ON PROFITS.
THE SPECTATORS MANIPULATED
STOCKS no GOOD ADVANTAGE.
Prices were MA Up, but Heavy SELL
ing Brought About strong
Reaction and Decline.

New York, March IS = The movement oil
| stock prices today was confused and the mar
ke, very pnz2ling. Deeidedly lower quota
| tiong for nertcans in London caused an un-
/ settled tone at the opening Prices partly re-
! stonned to The Lordon initiative, but did not
fail frlly to the lover parity. furious buy
| ing movement quickly developed. which lifted
tie lcye! Of the whole market strongly above
| last nights close. The buying was most con-
| 81 .ruous in the Total and industrial special
ties, but there WIS no lack OF strength In the
| railway list the 6emnn! for the srargers
being also heavy. Heavy realizing met ths
advance and wiped out large part of 1t be-
| fore tho first hour had expired.
| This was the most active period of the days
| trading. Then tkere ensued slow and la
borlous recovery. which developed higher
prices than the irst squirt And yet this seq
ond advance WAS also wiped cut In practically
all caEes except some of the epecaltits, ana
the days net losses In the standard stocks
show a point or over In some cases. Thus
almost the extreme range OF the market was
trayerted four times during the day.
There was very little in the news to explain
these conflicting movements wall street
opinion OF the political outlook was on the
surface less apprehensive. The movement OK
Spanish fours In London aid Paris which
patty recovered after an early decline, re-
nctted growth Of similar opinion there. rms
was probably derived In part from the strength
OF the New York market yesterday
London sold freely here on the morning ad-
vance and there was very heavy realizing bo-
sides attributed to very powerful local mar
ket interests, The character of this realizing
suggested that the advance might have been
manipulated but the usual procedure for such
maneuyer by powerful combination Is to
bid up the prices OF Americans in London by
ca0lc orders the supply oil stocks being linn
tied there and results more easily obtained.
hut London prices were lower this morning.
The early advance was materially helped by
tie local traction slock on account of the be
lief III change NJ transit plans, A. nunper
OF these industrial stocks rose over points
and number OF the railway stocks at one
time Showed net advances OF over point.
Tho rctrcgrade movement OF prices seemed to
be as dlssassociat ID from any news OF the day
as were the advances. Realizing OF profits
offers the only explanation.
lf,ceS of foreign exchange moved to I; Tower
level today in spite of additional euga gements
OF gold for import. Actual rates for demand
sterling declined &c, auI the actual rate for
sixty day bills. as we'll as the posted rai
!or both long and short sterling, fell izc BIDS
Tor Tho engagement Of gold for export from
Europe was announced from Australia to san !
iianc'sco fhsra was M easing of the local /
money rate In RESPONSE to the movement
The tond market tended upward 10 the Close
wAcn ifioes moved OFF in sympathy wan |
stcr;s total SALES $2l30.00o
jlsiierence 1853 5000 1,55eS5l -