The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1898-01-30
The PAST WEEK in STOCKS
With 4 Kesk Opening There Followed
Good Kcaction.
THE RAILWAY EARNINGS FAVORABLE
All stocks show some Advance Over
Last saturday-BiK BulRer In spe-
cialttcs-- Bonds Active.

New York, january 2o.--At tho opening tho
.tock market today looked rs though the or
ders accumulated by commission houses over
n,pbt were to sell In order to take profits.
First sales wore very generally at a fraction
below last nights prices and 1000 shares oil
New York Central were thrown on the mar
ket which drove the price Of that stock down
q. The market steaded almost Immediately
aud recovered gradually to above last night q
clpse, the net gains being very unequal. Lake
Shore was most conspicuous in its movc-
mcuts. rising az points, to igah. on the re-
ported plan to exchange $40 OF New
York Central 3ia debcnturos bonds for each
500 OF Lake Shore stock. New York Central
ultimately tended upward. after wavering
somewhat. There WAS also some taking Of
profits OH the advance which IL was rumorcd
would bo applied to sinking fund for the
bonds issued IN payment.
Another strange element IN the market wns
Louisville. which advanced over point on
reports that plan for refundine obligations
at lower ratio of interest was under consd-
Grafton This stock was the leader Of the
market IN point OF activity. Northern Pa
cific preferred continued 70 advance on wen
defined rulnors that an additional dividends Is
IN prospect, Denver and Rio Grande preferred.
Northwestern and number OF less promi-
nent stocks showed notable gains. These
kct and countoract some tendency TO sluggish
ness and heavincss III the general lies 30
that net gains were achieved In most stocks,
though they uro small OUTSIDE inc speciaities
mentioned.
Quotations from London this morning
showed some depression In the market for
Americans there which was attributed TO the
apprehension awakened In the British minds
by yesterdays vote on the Teller resolution
The week opened with tendency towards
reaction and the hesitatng tone IN the carly
a sie ipn IN
tive weakness upon the announcement that
the Mainc had been ordered to Havana. The
sharp decline seemed TO clear tue speculative
situation by giving the shorts an opportunity
to cover and by shaking out tho weaker uar-
row mnrglncd holders who were regarded as
q menace to the success OF the movement to
advance. The character OF the buying AT the
decline made II very evident that powerful
interests were taking up heavy lines OF stocks
with confidence. and their aggressive manipu
lation for an advance was evident during the
remainder of the week.
The most objective factor IN their favor was
the strong upward tendency Of New York
Central. at nrst unexplained but made clear
later by information Of a plan III coutcmpla-
ton OF absorbing the Lake Shore. How mucn
the general strength oil the market waa due 10
influence of the special movement aud the
sympathetic movement In the early extended
Vanderbilt group wah made evident on Friday,
when realizing movement IN New York Cen
trail left the market without a support, and
q reaction resulted
Rock Island was another sustaining force
on the announcement OF tao building plans
and the very large Increase In net earnings
for tho rHcal year thus far shown by the
presidents statement Rock Island helped an
advance IN the whole Of tho granger group
AL the publication of the December earnings
OF tsurii.gtrn and St Paul, which on urcount
O, she szlaii 'urrsasF md the large increase
s. SEssstiag expenses, rFTe viewed uniavor-
ATS by tss TRADERS
~ @s~s.H yszssTTr ntS Of railway earnings
aaqr sssc AZ rsse very ipvnrahle notably
-.ssr-a+ru P;rser sst Pennsylvania
4. Taf eses' operation wafe vse % the reports
r assi9ssasasr es ~ FTryident's speech on
TNT-ssaas sre serss * Fridays scillng was
er- 10 fsai5ssss IS ~ dsiivery OF the speech.
Tes r1trskss FerS1ee saf helped very ma
egrr; 90 Tasss.sy sri Wednesday. hut there
was almost sgupsiy heavy selling on the sue
eeetiirst days from i1s same source.
IL Is evident that tho speculation Was only
The tore 81 the niouey market haa worried
eaFier, Notwithstanding the withdrawal from
tho hanks OF tho first 10 Per cent instHllment
of the government deposits al Union Pacific
payments n IL evident also that the in
creasing abundance of money and ease OF
rates Is nj that rreyen,s larger Imports Of
gold, as the auppiy OF exchange u constantly
increasing and rates for money In London and
Berlin ARE again hardening.
Not gains In the general list extended IN
TO points IN the speclaities to Nv In Lake
Shore and GA In Now York Central Kansas
Pacific, Rock Island Northern Pacific pre-
iorred and Northwestern almost made heavy
gaina
With salcs of bonds for the wool on n par
value of over $4,000. 0O0 business In that de-
partmcnt of the exchange exceeds all previous
records, both for q week and for a month. on
the business Thus far this month The cx-
treme gains have been somewhat reduced by
profit taking, but prices arc materially higher
on tho week.
tDy private wire TO Cnrrl a Richardson
The range OF prices on the active stocks to-
dny, compared with the closing preoa Of yea.
tcrdny, mn reported for Tho Post ny y. W.
Hunter Co.. is as follows;
Omen iJich Low r'd'y y,d'v