The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1899-07-14
PRICESWERE DOWN.
The Stock Market Was Heavy and without
Life
SUGAR WAS WEAK AND CLOSED DOWN
The Money Market Was Easier In
Tone-Bonds Dull and
Irregular.

New York. July is The heaviness In the
stock market precpitated sentiment regarding
stock prices more than anything else. Local
traction stocks we're weak. Wall street had
IL that a strike had actually been declared,
and the stocks in that group rallied when
this canard was denied.
wall street seemed to lay more stress on
the advance of the rate of the Bank OF Ems
land than London itself The stock market
there was dull, but prices-especially of Amer
icnns-were well maintained, in spite OF the
rise in the private discount rate. There was
sherp rally in British consus and in Frenen
rentes. and the foreign markets seemed to De
relieved from the tension of apprehension over
the Transvaa situation. But nevertheless
prices Of the intsrnatonals led the decline
here aud many stocks had fallen a point in
the course of the nrst nour. the grangers be
ing conspicuous Sugar also developed early
weakness ana only partially recovered its de-
cline. The southwestern stocks showed some
resistance, Missouri Pacific leading. as was
the case yesterday, ana st. Louis southwest
ETA preferred and southern PACING following
the rise.
During the afternoon strength developed in
Federal steel, American Steel and Wire.
Amer can Car preferred and Cotton OIL, which
induced a general recovery In the specialties.
Northern racine rose 10 oil IN the ldlc uealuss
and checked the declining tendency ON iealiA-
ing New York Air Brake jumped ~ points,
and Mobile and Ohio rose d.
The local money market was easier in tone,
but operators who bought yesterday on the
uTosUect of favorable Oank statement were
inclined to feel that they had exaggerated the
prospective benefit. There were realizing
sales from this source, Saturdays statement
being generally recognized TO be. IN the words
OF the manager of the clearing house. 'singu
larry unfortunate in the working of the sJs-
worse than the actual condition of the banks.
This weeks statement is expected to be re-
markably strong one, but it is feared that il
may be equally unfortunate in restricting dc
tual conditions number OF very heavy
loans Were liquidated early in the week and
there has since been some expansion, but the
fact Of progressive increase in the total VIII
make Saturdays showing Of loans based on
rising averages and therefore likely to under
state the actual total at the end of the week
The subtreasury has been taking money from
the banks. and the interior exchanges still
run against New York.
The announcement of one of the great IN
surance companies of its intention to dispose
of its investments in stocks was a weight on
the market durine the early hours. but some
feief was caused by subsequent announce
ment that the holdings would probably be dis.
posed of at private sale. The close was about
steadY at mixed gains and losses
The railroad bond market was rather dull
and IRREGULAR but Southwestern railroads
were in good demand. Total sales par valu7, !
S! OPS 600.
The range nj quotations m stocks as r. !
ceived by Cargill & Richardson was as fol- |
lows: