The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1898-09-27
in STOCKS AND BONDS
BULLS WE'RE DISAPPOINTED AND
SOME REALIZING OCCURRED.
lin mmered Down TO 13D-Sugnr
WINS Well Supported.

New York, September 26-The action OF
tofgy's market at the opening was disap-
pointing to the bulls, and stocks purchased
Saturday on the favorable bank statement
were speedily let go and commitments were
made for the short account.
Tho higher range of London prices en-
couraged the bulls and efforts were made TO
advance prices to parity with the London
figures. The rise in the foreign marxet In
Union Pacific showed that the foreigners
were becoming reconciled to the dividend
action. Opening prices were somewhat mixed
but the hesltancy was soon succeeded by q
general plunge downward under the guild
ance OF the specialties. Loss orders wero
recovered in the leaders and the market for
time was at the mercy Of the dealers who
searched diligently for weak spots.
Gossip that disagreement existed between
some OF the speculative pools was colored to
some extent by the severity OF the break in
spots. Prices for Tobacco and some other
speclaites melted away rapidly but Sugar.
after dip downward Of point, encoun-
tMec supporting orders and ruled above
Saturdays close for the remainder of the
day.
he railways meanwhile fell sympathetic
ally. but the losses were confined to frsc-
tlons, ana after the first rush to sell had
abated settled down to level slightly above
the lowest and resisted subsequent efforts at
depression. The iirmness was accounted for
DN the publication of numerous traffic state
mcnts covering a wide area of territory and
showing substantial increases
The gains In some of the Southern lines
was especially gratifying In view OF the slow
movement OF cotton and quarantine regula-
tlons in some sections. The conditions were
responsible for the marked decrease report
ga by the Southwestern group. Arbitruge
noises had purchasing orders but the action
OF the market discouraged any extensive
ventures and only light sprinklng of vari-
Gus stocks was taken.
The elimination of an active speculative
interest from the market, owing to the rigid
OF seryance Of the Hebrew holiday, Yom Kip
put. reduced business considerably and the
rad on Tobacco also chilled the outside de-
nand. The decline In Tobacco was attribut-
ell principally to a denial by officials of the
i'rnmmond company that that concern had
been absorbed bv the American company
The bears attacked the stock with consider
| 1891
The railways which had moved independ-
ent of Tobacco throughout the day ruled the
best. In the final dealings Tobacco slumped
| hdGlH and touched 1888 The other industrials
also suffered from realizations, but no APP
ptetihble declines were recorded In the
standard stocks. The market left off unset
tied with slight losses generally.
call money rates stiffened sharply later In
| the day and ole per cent quoted for a
| time The great bulk. however OF the trans
| actions were made at 3ie per cent villa sou;e
accommodations early In the day at 3 per
| cent.
| The bond market lacked decisive tone. but
deolines we're light and variations in elthcr
| oil cotton unimportant. The total sales we're
! 81 329, 900
/ 81, ~ n