The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1898-03-06
ELY STOCK REVIEW.
Ieot Of Currency to Interior
Indicates Timidity.
II1IoNARY MEASURES TAKEN.
.,,on of sfa.02a,oOo I'm Loans
[saxornbIe symptom-Heavy
nccrcasc In Deposits.

March 5.-Liquidation was re-
mn energy on the stock exchange TO-
.ome very striking declines took
,unr orders were executed for WASH
.a.oun, as was the case yesterday.
/. NO news to account for this selling
general feeling of apprehension over
aish situation. There We're occasional
:, developments set afloat, but to a
tsnt they represented the guesses OF
.dors as to the motive for the wash
kelling.
IN the late dealing was In part tho
h covering by shorts, who sold early
a,y hut the coincidence of the rally
: appearance OF the bank statement
a. variance with the statement, which
some respects disagreeable result.
,,r,c,,on In loans. the falling off In de-
nd the increase in cash were larger
neetcd Tho fact that the financial
ma been going through trying period
mile harm resulting was accepted as
cord Nevertheless, the general list
,,arted declines. amounting to over a
some eases. Union Pacific, North
and Manhattan were tho special points
tness The grangers were relatively
|nd the coalers also showed resistance
heclines. Dealings in Sugar were large
bre seemed to be good support for this
MEASURE of the uneas,ness felt by the
N community over the status OF the
~ relations with Spain today's state
M New York clearing house banks
a striking exhibit. There is In II evi-
IN a great drawing in of credits and
M reserves. The statement was sur
In has been known that the demands of
kIutry for money for active use have
| off considerably this week, but the
hui nevertheless shows decrease In
Sserve Of nearly IS. 900, 900 That this re-
the Withdrawals of deposits In New York
Iby interior institutions us precuu-
measure to strengthen their reserves
bud doubt The enormous contraction
ks of ST., 622. 600 repI esents the precau
measures Of the New York banks and
is why money for purely speculative
rs has become sLarce. why ilquidutiuu
stock exchange has been forced aud
Ices were actively depressed. 1t Is pos
hat some part of the loan contraction
Ito liquidation on sterling exchange COL
which has been withdrawn from use
|ortlng gold. But it is the general be-
BIZ the gold Imports have been made on
|le OF new bills against London pur-
of American securities. which were
Hast week. and against grain shipments
|here. The net result to the clearing
banks is decrease in deposits of $23,-
Gold In transit for New York or re-
today amounts in the aggregate TO
100, which will serve in part as an Off
the banks losses Of cash.
In the stock market is closely
Gus to that which followed the culmina-
the rise in prices last September. The
tent OF money then to the interior TO
the crops caused a stifening of money
md liquidation OF speculative stockhold-
Whether the import movement of gold
suit In renewed advance I'm stocks,
n easing of IN money rates. remains to
D. That the disposition for the moment
INST speculative outlay in securities is
!, though large capital apparently
ready to buy stocks at any considerable
In prices. The decline OF the latter
I the week has made the net results
. have not been as active as stocks, out
moved In sympathy with them within a
Ter range.