The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1899-06-24
PRICES WENT HIGHER.
Railroads as a Rule We're Firmly Main
tanned.
THE TRADING WAS AMONG PROFESSIONALS
An UpfnvornI,ie Bank Statement 1:
Expectcd-Noncy Rates h"r
dencd ia England.

Nav york June 2s.-The stock market did
not exteud beyond professional bounds at any
/ time today. but the small active elemen'
amongst the operators were disposed to cover
outstanding short contracts ana as result
prices arc generally higher on the day' IN
some cases notable on account Of the meeting
Of the directors Of the steel and wire company
to settle the much disputed question as 10
whether or not dividend should be declared
on the common stocks was the central event
of interest. After the directors went into
session the market waited with eager ana
almost breathless expectancy for the result.
| Much bitterness was manifested among tue
contestiug clements over the question: put
the stock. when it was finally announced tnat
no dividend would be declared at present.
showed that the question had been thorough
Nv discussed The price closed at the highest
of the day. 20 points above the lowest. There
was a monetary dip near the lowest after
the news came out but offerings were small
and the price quickly moved upwards, ausorp-
ing some blocks oil moderate dimensions on
the way. The action of this stock IN the race
Of the worst that has been fOretod cleared the
situation and there were some snarp adNan -es
In the closing deals. The steel and Wire news
did not como out until within halt an houI on
the close and the earlier strength OF the
market then reasserted itself. There was a
period of practical stagnaton and welding
operations before this point was decided, The
great Improvement ia the sentiment on Tor
eign stock markets was rejected at the OPEN
ing hour, notably In the Baltimore ana ONO
stocks, and there was n good demand later
for the Vanderbilt group OF railroads, tue
grangers. the Pacific, continental Tobacco and
number Of other spectalties
Sugar. Tennessee Coal and Iron, American
Smelling and the dsulling group we're CEN
ters Of weakness at one time, but without gen
eral effect upon the market METROPOLITAN
Street railway was up over { points at one
tire and Airbrake rose II points. Baltimore
and Ohio common gained q point but the
advance In the preferred was not well held,
Tile gains In the railroads as rule were very
firmly held Money rates hardened in London
aud there was a recovery of fraction in the
rate Of sterling exchange In New York but
the political tension abroad has apparently
served 10 partly relieve the pressure for gold.
Lordon bought stocks in this market today.
Another untayorable bank statement is eX-
losing both to the interior and the subtreasurv
on account OF the surplus of revenue receipts
over expenditures. Some of the gold exports
will also figure in the return. though none
Of the A.W0,0Go announced TODAY Will he In
cludeG The changes in loans can not be
foretold, though events IN the stock would
indicate contract. But this was true last
week when the event showed an expansion Of
So 1000 The bond market was only mod
erntely active and changes were mixed There
were heavy takings of st. Louis and South
western seconds al an advance OF per cent.
Total sales. par value, S263I0o0,