The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1899-01-25
A GENERAL FINANCIAL REVIEW
ENORMOUS REALIzINe CAUSED 4
REACTION IN ALL sToCrSs.
Anosher nny of Heavy Transnctions
Money Movins to the East and
the Market steady.

I New York. JANUARY et,--Enorn,ous realizing
| and short sales today materially alycetca the
quoted prize Of stocks This DEALINGS were In
! excess u million and third Of shares. and
a. no time did the Price OF the higher valued
/ railroad stocks reach yesterdays cicslns iis-
"res Heavy sales In tho carly dealings were
caused partly by the lower range OF London
quotations and there wrre numerous declines
eAeecding point. A sharp upward movement
ioiiowed, shorts being extended 10 Michigan
Central tHien Pacific preferred. General
Electric. Peoples Gas. Manhattan and Mis-
souri, Pacific. New Jersey Central, Tennessee
Coal and Iron ana Federal Steel common were
also lifted. The trading element began 10
sell freely rs the effect Of heavy profit tskins
was appreoiatedt
The market at FIRST became duh as pricss
rceeced. but the selling gradually assumed
larger volume and qaoSations rapidly crumoisd
away, eventually weakening practically AN
stocks tradcd In.
In the absence OF unfavorable news tho re-
action was attributed to the technical ovndi-
lions. by reaching stop loss orders IN tho
more active shares material sluinps4 occurred
in prices With as much MS point or more dir
'es Ms N asetatiSns between transactions,
expected TO make another heavy gain In cash
this week Tho movement Of money from
the Interior and from California to the East
Selling at the tinal hour wiped out the Eains
In stocks made earlier M tho day. The ex-
IRENE breaks Ia the Vanderbilts ranged up 10
"a IL. Northwest. The drop In the gfaagcfs
ranged from : points In Rock Island to SA
IN Burinston. Among the ccalera the slump
ranged up to ~ In Reading ntst preferred.
IN the Paoincs the extreme drop WAS pafnts
IN Uuion Pacitio preferred, Pennsylvania dip-
ped SA, Manhattan and metropolitan "a
each; Z. G. G, aud ST. l.. ., Tennessee Coal
and Iron :, American Malt and General
Electric ~
New York. Ontario and western. the most
aactive stock on the list in tho dsys trading,
dropped 2le points, II was estimated that
Lennon NJ onS lime hsd scld 5000 shares
poriion OF which wns taken back on arbf;raee
dealings later IN the day.
The resistance tho market displayed In tne
forenoon. notwithstanding the heavy ASSAULTS
made upon It by the traders, was explained by
the fact that during tho progress OF the raids
several prominent interests were large pur.
ehasers They protested TO see no change
in the situation. pointing out that there was
no danger IN sight of a scarcity OF moaey aud
that the market was likely to receive sup
port by the purchases made In the interest
OF Institutions aud individuals who had large
supplies OF funds seeking employment. A
number OF wagefs were settled today when
Missouri Pacific on dividend rumors CROSSED
Northern Pacific common In the forenoon
trading A feature OF the market was the
resumption OF activity In the middle class
and low priced stocks.
The bond market displayed early strength
but later yielded In sympathy with tho re-
action In the stock market. Total sales 81
260, 600.