The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1898-04-03
ADVANCE IN STOCKS.
~ SPITE or \ WEEK OF ExCiTE-
MENT PRICES ARE HIGHER.
Washington Has Bccn II Buyer. Indi-
eating shat News There HAS
Leaked Out to SPECTATORS.

NcN fprk, NrrH .aT-->SWs ittNlng an nOpur-
taut hearing on the aIl-.ibscrhins question or
this oouptry's relations With Spain was oN,
ceed!iigly scarce today. rs congress wus not
In session. The atsrnc, OF Developments loft
the situation about the some MS yesterdays
close. and stocks were offered Tor sac on the
presumption that war with Spain Is incyitt-
bic, Yet prices showed net gains today on
eNttcinc recoverics from the lowest variations
VIII compare fagorably Win the changes OF
last MoEuRy and "Wednesday,
Shc market MIS- exceedingly fcyerish and
giraffe duri,g all OF thu tive hours session, ii.
suite o. the paueity of nnwe, varying srntl.
rent heing fed by sUrsiItscs rather thSn news.
iUst 81 tho activity was bascu on the supp1-
sltisn that "the ahscrcc Of all symptoms
might itsclt be \ symptnm This uncertain
,tii, nj mind would na,urailS bogrt an IN.
tlih;i'ioi 70 leave contracts outstandnE. AS
n,ost o. tie existing contracts on the cN~
change are tascd on short salos OF stocks the
uhceSainty found expression In buying 10
ccstr The ,imiGlty NJ shorts was founded on
theic very severe experience last Monday.
Tho support offered TO stem the downward tca-
dcncS at the opening was small Tho analogy
WIS so ,lose TO the course of things last Sat
uraay that II had IN unSttting ehett im
pert;fii commission houses With Mashinhton
connections w9rc the instruments used for
n,ach OF the buying. Ttis gave tine appear
nnco W neither well founded or only dasihnrd
10 stem so--thpt orders 10 ley stocks tnt,e
possibly on infoemntioh FROM Washington Of
sutie favorable tuin In the prospect oil M
fairs,
II is probable, also shat soino OF the buy
Ing was duo TO that class Of invoators Nno
como into tie market TO buy stocks At n low
range OF prices for the actual return In Years
to come. Londcn. furthcin ore. was u buyer
to some extent here in spite OF the significant
weakness OF Spanish tours on Foreign aN-
changes. II is evident that FOREIGN Exchanges
look to New York for an Initiative. for the
present as an arbitramont Tor peace or war
Is TO come from Washington.
II seems remarkable than there should be
a Ct a M Ina nj IL
ties or tho stock exchange IN the week which
witnesses the publication OF the report ci tho
Maine board of irquiry and The apparent
abandonment OF diplomatic negotiations look
Ing to conservation of peace With Spain. The
fact Is that prices nre from | to points
hshu In all stocks that mako up the bulk
Of business. This was IN part due 10 the
bond market. When the bears attempted 10
take profits Monday by buying stocks at the
low level induced by the presentation OF tho
Mame board OF inquirys report, they round
themselves forestallod by powerful n,il
CLIQUE. VINO had secured large part OF the
a'NlIahle floating supply OF stocks. Not ior
years has there been so violent an advance
In prices M In Mondays hear move the
bulge In liires seemed to have been dcsisnni
oiisiut ", by some Of III large btar vporatUrs
Il cma,lyes with The pnraose df shaking on
sonle Of their undesirable following by fo'r
It's them to cover tloir contracts and thus
leave them open for further dccilnt,
The big bears were supposed to have been
caught In their own trap aud IL was generally
believed Monday night that the short interest
had been practically eliminated from the mar
kot Later developments, especially on
Wednesday,, showed that thorc Was u large
outstanding short interest, and the belief pre-
vailed at the end of the week that their shui.
interests WE'RE still large The persistent seil
sitiveuoss of the market to the Inintesi Sug-
geRtiGn OF peaceful adjustment OF the CUBAN
question goes to confirm tho belief Aside
from. thig question the situation Ia thought 10
b. stronger than for many years. u ~ nc
ginrnr to be questioned how far an actual
state, of war with Spain would counternct IN"
growth of commercial and Industrial a.tVhy
There is some effect already noticeable IA
diminished bank cloarings especially. t'ilA
week, and In the increased demands ana nd1
ed exactions by the money market.
Tho demand on New York from other ~
nestle cepters for money show marked III
crease, and tho frmncss III currency IN TIC
latter part of the week is not adequately re-
ncuted In the bank relations. 1hose iosst7
are shown to he more than offset by receipts
OF imported specie. But the calling Of loans
yesterday and the marking up Of eau loans 20
4 rer cent indicates that the bnnks are uis"
pospd TO take measures to strengthen lhein-
sci, es Estimates and opinions vary widely
as to how far the imports OF gold, whlch now
amount 10 $40 100000 from Europe. have been
drawn against current grain ana cotton plls,
mud how much of the accumulated oNohhHGe
against Europe still remains IN New york MS
collateral for loans. That there is still ITO
cral supply of exchange to lqnldnte II gchur,
nlly believed Large banking and hnhncial
Institutions IN Wall street are believed 10 Dr
In 81 hstantial accord regarding the course 70
he pursued to insure tho greatest saiety ana
stability in tho event of war.
Bends have moved In sympathy Win STOCKS.
hui have not been active. Prices are to .
per cent higher and in exceptional cases y" y
cent.