The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1899-05-21
SPECTATORS HESITATE
transactions Confined Mostly to lOca.
Room Trading
AND ONLY SMALL CHANGES IN QUOTATIONS
Attack on Values Falls 10 Produce
Any Material Results and the
Close Is Firm.

New York, May 2o.--Transaetions In today
short session were apparently confined to
dealings by local room traders who seek !,
days turn in prices, either UP or down.
Prices in the majority OF cases are conse-
auently little changed from last night. The
course OF their fluctuations during the two
hours trading reflected considerable hesi,a-
ton and uncertainty in the minds OF the
tlading element. The London exchange was
closed for holiday aud there were no quo
lotions from that quarter to give an indlca-
ton OF the tendency of prices Many stocks
opened unchanged in quotation or moved only
. either way. Stocks of corporations VINO
enjoy franchise privileges in this State were
weak on the prospect OF the franchise tax bill
becoming law, the prospect OF material
modification not being considered likely. The
American smelling stock was also under pres
sure and continued rather weak all day Ana
conda on the other hand continued its show
On strength and ended the day ~ points
higher. Sugar made an aggressive resistance
10 the pressure against it and kept apoye yes
teroay level after the opening Decline. rhefe
was a resistance TO the occasional attucKs oil
ihe market also by the railroad stocks, es
peelaIly those in the South and West The
Gears were disposed to caution in antiCipa~
ton OF the favorable bank statement put
when the market failed to respond to this an
attack was made on values. Very little stock
Vas Drought out by the decline that the bears
covered, mahing the close i.tm at small
changes, except IN special cases. The bank
statement showed larger increase in cash
tnan was expected. Tne heavy contraction
IN loans was of course reflection In part OF
the liquidation Of last Saturday. AS a conse-
quenee the increase In Uasn almost all went
TO swell the surplus reserve OF the banks.
There was marked continuance OF the re
Gently heavy absorption OF new issues OF rail-
road bonds the tape recording several indi-
lldual transactions OF from sl0O, 900 to over
$500 600.
The stock market has been so much unset
tied during the week by the coutendlng strug-
sles OF the bulls and bears over the Flower
group OF stocks that there has been little
opportunity to discern any reelection OF gen
eral conditions IN It's movements There was
some slight continuance Monday of the
eager selling pressure on those stocks when
had been maryelously advanced IN value UNI
der the fostering OF the late Mr.. Flower The
determined and extensive buying by the de-
ceased iinanciers associates in these propui
ties, who had joined resources for the protec-
ton or values. soon alayed tue approximations
OF timid holders and induced tue shorts to
cover. The financing of the $50, 600 600 pay
ment to Spain completed on Moaaay without
tic expectation of dollar of gold was stTiK-
ing eyiGence OF a RESCUE OF our exchange
credit balance, Exports. though far below
last year unprecedented level. owing TO the
reduced prices OF broadstuns, are still we'll
above the average for this time OF the year,
and the amount of exports for April holds tne
record for that month II last year is excepted.