The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1899-12-24
IN THE STOCK MARKET.
lhe Week Hes Been One Of Unusual
Features
JfAlovsI6S AND ASlaOslIIts EXISTED
And Tinancicrs OF influence We'd
with Each other to Tear Down
Opponents.


tons on the stock exchange today disclosed
how much OF yesterdays weakness mus, be
attributed to selling for short account The
rush 10 cover short contracts carried prices
Up without regard to fractions in the special
ties. which had been the mark OF attack.
Sugar, Metropolitan, Tobacco. Brooklyn Rapid
Transit and Peoples Gas Jumped from ga
TO points on opening sales. The buoyaut
tendency was shown 10 the international lis,
Of railroad stocks. London had lifted these
sharply before the opening here but taey
boa nded above the London parity to a level
from ! TO points above last nights Gloss
here The urgency OF the demand from the
bears constituted a miniature panic Their
short selling yesterday was based on assgmp
,ion that the periodical se,tlemen; ia the
mines department, OF tho London stock st-
change. which began today. would disclose
50 weak position there that a panic would
be likely to result On tho contrary. The
earliest news from London showed that the
settlement in London vss prosssd.ng EASILY
end 10 al orderly manner. ssai!mrnt taere
being much encouraged by TIE shipments u
gold from SeE YORK. kuuGrs q nnfEotai
enhancement ana forced liquidation pursued
a prominent nguTc 10 tbn nnaneiai Nprid 80
DAY yesterday Today on Id contrary, n vas
sinfmfd tnat tt.@N va govNfLHent ona9s
nad seen placed as Sddihons security fns
tals man Il Neai'h ard trsi Pa diHsreneef
weFe ended, IHs professional traders 49,
esi is1 the one rgnor with the same crctsac0
rs they had iaf other. and put ts 3 lively
selves iroD ioas. latereFet2uo1s % tas nsaS
sta.emaut ~e-e deel3cdly cogiused and tao
.uafket ran On On realizing II DID Hpt get
back 10 tue fop bat hardened sgain materially
AMI closed strong The cash sarfeaas t1oRa
uy the statement Of SzI59,5N came az aAE-
rrise Ia vIeS - ths g1ii szipGelis. arf tae
drain IL seston. Z IS 81 s1s.ca - ias
hidden resources bTcygh, ogt 90 seek cTikts
IS that o. TIE past week T1e sen o mans
car hardly Be- 81 accurate raGa tim a. t1s
yet rssplt az tie drastic eoLttae,.on 81 toe
week TEE sr1sliaeas az ths decrease, Sl,efs-'
90 must Re cEe to ihs average srs'en 81
computations.
J What happened in Wall street tsis wssk
hae tse1 long nme orav NY ans q.
Z ha6 ioEen or ulcre causes -aigat ~ cred
cut any " tAem or al c. ;hs4a coneiaea
were more properly bus f1e casLluAtiod OK
lolg series % causes Tat-1 2r@c.P!ta'ec iee
event. The Whole nay oa s&1Ile1 ~ "a fHe
term cTersgecalaii0r. .>Mousst froiss'
kionsl spectators there is psoeesz e4praas-
lyeIy termed 'pytaGjd5as AonHT Is r''r-
rowed with which 70 buy or rus.gio. Nhr2
the price q the purchase r1ses ihe ASA "a
recEonsd az p:uat and Z .aTes;s1 10 maze
purchases. The Tro6ts tb2k TelnyesSec Aet2
to advance the price sat he payer pFcats
the demand which nas thus adgaEnet fA-
pFices was purely fictitious one. I3e pyf@-
mid thus cseated E Al iarsfted car ss4 =
topples over VIXEN an attempt Is mace l9
ssN 10 realize Tee capitalists Do 10. cstl
their operations ''pyrsm!il1s, but tue Pe--
sIsieut imitation e. values q securities T4Ae4
went CT for months had much the sain-
effect II mas beer long syl1Rat that any l2tse
selling TO realize would cepfsss iae marcel
ard some very reality combinations Rave
persistsutly held their stoGks and !Saot-
The symptoms Of coming stringsary n thf
money maTEe. Wiz al obstinate optimism
regarding the rtplenishweat Of the noa y
Capitalists and bankers u-ho had underSrIi-
ten the securities OF many Of the new iadus-
thai locations found the market 'skeE if9-a
them ard prices Of the securities 10 tae opsE
market dropping below the G11erTrttins
price wlth this hutdsrs9ne !osd 20 protsai
Ire growing ztT.rEency q money 'asy tuFf"
81 avalanche o; all classes 81 sedAsafies On
the market 10 obtain needed funds
il was such realizing movement O
large scale that L bad Iang beeu Fntgni 70
AVOID, IS The market vas - 70 soa2 ~ -
s1ud IL. But once started. ard tar belf'
fully understanding the weakness u the 1l4-
d.tioE and Offering prlcss d1Ea wit1 frc~-e-
holiness the fabric beeal % c-14lcie -
zeeuled lettering toward quiz Mohaa{ S9ea
eerfed action offered 81 ,C1148 ~ loacs aud
broke the money rae. watch bad jumped g
J. ner cent day. sqEal 20 isf peg cent Psi
aErum, In the frantic Bidding O. cara pFea5eH
hcldgrs With the easing % toe EioIeY rae
the panic vas checked and tho proceeding 2
reduced 10 souae sort o. order. Ine mafAft
week under constant Liquidation. Th1ca asl
brought prices tn many important STOCK
lower than the low prices o. Aoaday
Coming to the moFs immediate causes o. ta'
speculative collapse, u is evident tHat ta'
duration OF the Trgnsvsal var snd the couse
qusnt cessation o. the South African gpl-
supply was counted upon With eonhasner Z,
be much shorter than Y Is n0N eY4ce9t .
viii be- London spectators have persisted
in rosy nred opinions and have pulled tA'
market even on irtimarons thAt tal4i@f =
movement was in prospect making large ~
roads on the money supply 70 carry Stoc @s
Ths. British military reverseE nave Rad COZ
responding acute effect II ne cnusequeDt d4t
tereucss have had & world vide elect. lof-'
Ing IN sterling exchange and the money rates
Ia Paris, Berlin ant New YORK, and tAhias
gold from all these eentess 70 meet toe nessA
stiles Ct the coming annual sett!snsAts; il'
New York money market, burdered WIFE eA
traordInaFy commitments on 2ceoaDt 1f td'
great Industrial combinations hiss esen ini'
cut on from the expected geplenishmeat %
goid Imports on acc0uH; Of c3nuaGius favor
abe trade halanceS Also the ySGal aufun-
renux az money from the interior 10 New
York after tie crop moving period mas PEGS
entirely suspended this year, oHing 70 iA'
bustress activity all over the country. stu
another adverse factor was the eontInnst
ahsorptlon OF funds by the United state
Treasury. ewing 20 the unexpectedly iafs'
revenues. which have established runniGi
surplus TIE drain has been pArueaiar9
Oppressive on New YORK, owing 20 tne arg
proportion both Of the customs anf inteFn n. =
Z
&sw York clearing house BANKS. The larg'
| Capitalization and iotztlou Of hopes am
prospects, which capital was carrying va
thus made more buYdenSome
| OF the elements OF disIrust Of such aope
ard prospects which multiply 3, periods
difficulty and grog spsce ~itb ~hzt thel
feed on, the public i b. this time luioging'
by reason Of the weeks events. the arm
egty last week In Boston 10 sustaining -
market for copper mining stocks vas "a
initiatory step. Very large sums OF mone'
had 10 be taken out Of New YORK 20 that cen
ter and the whispers thus caused oesot
spirit OF distTust The suspension OF one
the numerous Bew trust companies, Nhlci
have been organized in New YORK " TIE pas
year looseneG another mass OF fears ans
possibilities 81 harm. which spread N trl
panic manner. The weeks events nave SUI
Recently proved fhe reality ot roEne OF IN
difnruIties which we're spprehended. But !
l. nor to be disguised that bitter anlmoslre
and competitions Of poHerfui money iolee'
and even social enmitles have played q iarg
BART IN the innumsrshls currents coufsini
beneath the surface. Thus some 81 w
most powerful money interests IN me couh
try are in conflict over the control oi VI
Iubfr utilities In Greater New YORK. IN
gas war being an incident Their msnsnNef'
Il end counter moves have stfFed W tbe mar
! llksr like the grsppie Of Leyiathians In POO
OF war Again the eneroacnmsnts oi N
thrust COMPANIES on the banking nsid IN tn'
last few months have aroused CRITICISM Ane
snnrobatior from conflicting interests. Iher'
Il resSon 10 believe thar there was Wiling
mess 70 utilize the weeks events 10 ekefeiss