The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1898-03-15
STOCKS WE'RE STRONG
AN ADVANCE OF TWO OR THREE
POINTS IN THE LIST.
Money Continues to Move 10 the In
terror and Gold Ii Flowing In.
Sp nnish Bonds Decline.

l. New York, March 14--The stock and bond
markets were strong throughout the day.
The different opinions were offered as to the
cause of this and probably all had some truth
In them. That the excess of buoyancy was
a surprise to many professional traders, even
TO those who expected some natural rebound
from Saturdays excessive depression, was
evident. There was nothing liz the news Of
the day to change materially the political
outlook, and that there were many holders
OF securities who continued nervous was evil
dent from the large offerings to realize, which
met the sharp rise at the opening but the
reaction which resulted from these offerings
was more than overcome by liquidation.
Prices OF Americans were advanced in Lon
don before the opening here This was the
more notable on account of the acute da-
preston of the Spanish government As,
which fell 2E in London on Paris selling and
showed an extreme decline OF In In Paris.
The course of these bonds had been looked
to as a true index as to the relations between
the United States and Spain. This discrep-
ancy might mean that capital looks favor
ably upon the excellent financial condition in
the United States, IN spite OF the danger OF
war, or 1t might mean that the acute fnan-
cial distress of the Spanish government de-
tracts from the value of Its bonds, In spite of
the chance OF peace. 1t is not to be lost
sight Of that the United States bonds In tho
local market declined X in the bid price in
the face of the strength of all other securi-
ties. IT is possible however, that the stiften,
ing of the money rate may have accounted
for this move. Certain 1t is that there was
very large covering Of short contracts which
had been left open over Sunday in the belief
that some new and dangerous development
was imminent in our relations with Spain.
Traders were indisposed to put out fresh
short lines and there was even the evidence
OF various familiar devices for bulling prices
to show that some of this element was In the
market for at least short upward turn In
prices. The hrnness OF prices was sustained
TO the close. This a demonstration that
the underlying strength OF business condi-
lions would quickly bring about recovery
in prices upon any relaxation of the tension
over the Cuban question.
Gold continues to be engaged abroad for I'M |
port. the days announcements aggregating |
over 81, 1000 900.
Money is still moving to the interior from !
this point, and receipts of gold had no ef- |
feet today In easing the money market over /
81 900 will be withdrawn from the market |
and covered into the treasury for |
the second payment on account of the Kan
sas Pacific sale Nearly all active stocks are
from to over points higher, as result |
OF the days trading.
Prices of railway bo1ls rose In sympathy
with the stock market, but the overwhelming
proportion OF the dealings was In tho Atch-
lson adjustments and the Union Pacific new
U.s. The total sales were s2.7o000o.
Closing quotations on stocks at New York