The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1899-06-29
TONE OF STOCKS FIRM.
Manhattan Was the Principal Strong
Feature Of the Day.
PRICE OF NEW YORK CENTRAL Jagged
american Securities Are in Demand
I'm London--I3onds Were MOD
erateIy Active.

New York June 2s--An EFFORT was made 70
rrpeat the demonstration of strength in the
stook market which was given by the out
hurst of activity and strength which carried
prices to the highest In the closing dealings
yesterday, but with only partial success. Man
haitian was rushed up to the final quotation
OF lisib. which was 81 above last nights CLOS
ing lust as New York was rushed up iate
Yesterday. The sympathetic effect on tie gem
ersl list was far below that OF the New YORK
Central movement.
Decidedly the most significant feature OF
the days trading was the cessation OF the
upward movement in New York Central and
affiliated stocks. There was an active open
Ing in these stocks, caused by the accumula-
ton OF commission house orders which were
attracted by the recent strong upward move
ment of the stock. 1t was advanced early in
The day almost point. The demand was EVIL
IDENTIFY satisfied for the time being and the
movement lacked snap. The price was al.
lowed 10 lag. There were various factors OF
strength In the days developments which
prevented break In the price of railway
stocks but there was obvious pront-taking
with some points and the days advances are
small except In few cases. The rally AT the
close did not bras Prices back to the top
level The most potent influence in favor of
the bulls was the favorable disposition mani
tested toward American securities In the Lon
don market This was In face of a tendency
to dizziness and depression in the general mar
kets there.
The takiucs for London account were esti
mated at 5000 shares or upward Of various
stocks. The demand was most eager for
Louisville and Nashville which rose nearly 2
points on the London demand Various ru-
mors were in circulation OF an approaching in
creased dividend rate to account for the rise.
Southern Railway preferred was strong IN
sympathy. The effect CT the London buying
was shown In a drop in the actual rate tor
likelihood Of further gold exports at the pres
ent time The local money market also re-
NAMED steady. In spite OF the activity of the
speculation in the stock market. Statements
OF railway earnings which were received dur
ing the day continued the extraordinary "a
vorable showing.
The cash demand for wheat and the buying
for export were sustaining factors in tine
granger group. even though a decline In the
heavy Northwestern receipts was reported to
have set in. In view of these continued strong
features In the situation, an effort was made
TO sniff the speculative activity in the lower
grade Of railway stocks when II was seen that
New York Central had become euiescent and
profits were taken elsewhere Southwestern
railways were the favorites, Finally the III
dustrial stocks. which had been entirely neg
lected. were taken ~ hand for a rise undsr
the encouragements Of the strength manifested
by Sugar and Tobacco. II proved rather
heavy to lift and dropped off in the last hour
Continental Tobacco and Federal Steel being
especially weak. The hrmness at the close
vas on short covering, Induced by the squirt
in Manhattan
Railroad bonds were moderately active.
Total sales par value, s2.Si5oO0.