The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1899-12-16
FINANCIAL REVIEW.
Condition of Money Market Reported
Law RrnJstrect's.


New York. December 15.-Bradstreet's hnan-
cial review tomorrow will say. Although
call money rates did not go to an extreme
there was further pressure In the loan mar
ket. resulting in declines and liquidation
throughout the security list, more parncp-
larlv industrials and specialties. The seiilhE
In some cases was of kind that would plain
ly indicate that bull pools or large specuid
tive interests were compelled TO let go their
holdings Bearish interests were very aclYs
and after adding to the depressing laeloi
by their sales helped the market 70 Stsaly
itself Thursday by covering extensively ii tlt
OF shorts. The market had before tnronsn
out the week the fear OF gold eApor'htiohe,
exchange rates advancing IN way Whlch
Indicated that gold would probably De iaken
from New York for London, as the Iatter
seemed unable to procure supply at Parls,
the actual result being the engagement Oh
50 100 COO for shipment by today steamer.
The fact that sales OF bonds 10 the treasury
have ceased because Of the sharp rise ~ INC
marke, nrices OF governments had bad
effect as 1t cut off relief through the action
| of the treasury, and there was genu s a.
disposition 10 call on washington iot iuItn ,t,
| assistance 10 the money market. MOI nH,'
| Thursday, however, did Secretary Gage take
any step to meet this desire. The announce
ment that the January interest on me pubic
debt amounting to S1,500.0W, would Dc an
| ticinated for the month, though tordy, was
we'll received and aided In calming me aen-
cral tone OF the markets Meanwhile ns.
| ,,oionments had occurred which lnvoiyeo
/ soat,,res eminently calculated to unsettle the
| speculative situation, The TACT that isreS
! inteles In Boston, identned with the MAJ.
agement OF some corporations whose sesu',
ties have been active In that market weI'
in dif6cuties with respect 10 their hoidlne'
Of mining and other shares, reached a.
street in a somewhat indirect way, ana, no
Lbe,ng clearly understood, gave rise 70 repoft'
lthat there was danger in the speculative pc
sition OF large holdings in the New, fori
market Later on when II neesne Know
that the Boston troubles had been ADJUSTED
and me hank there which was Involved II
Them rad been helped through by AN issue
"a ZOO 900 clearing house certificates. feeiin;
Of relief VAS apparent, y may mol ps s noss
and the breaks In the manipulated speeinltle
were apparently started by the unfayorapi
developments at Boston and under ths aa s.a.
as they proceeded The British repuises y
South Africa were also among the depfesslnl
factors leading as they did 10 exceedingi.
heavy foreign selling. which on Wednesda
rose IL as much as 10000 or more shares .
!, stocks Considerable amounts Of high srad
bonds are said to have been sold IN New for
having been offered at material concessions
Thursday. however, London reversed Its al
titude and bought stocks TO some extern
on the whole. the foreign Influences wer
adverse and aided the disturbing factors
keen .he market In nervous state, In whic
neither earnings. dividends. nor Fights INK
those to subscribe Tor the ~ per ceut stoc
increase by the Pennsylvania railroad. ha
any effect IN checking declines. II woui
seem. however. that the liquidation OF wea
aceo,ina, and unsound specuiations has bee
thorough. aud though the public shows ltti
aisnosition 10 trade In stocks, there has bee
. GOOD deal OF out and Out buying at cor
Sessions by permanent or temporary Investors
d,vidend paying shares receiving much attei
ton from such quarters
al (Specisl 70 The Post.)
New York. December iS.--S. Mum. Son !
r. .,, ~ the stock market: