The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1899-12-12
IN THE STOCK MARKET.
Violent Fluctuations Marked the Trading
Of the Day.
GREAT GAPS IN VALUES OF SECURITIES
decline from the Price of Last Week
Wipcd Out MnrPins-Many Were
Forced to Liquldnte.
REAT GAPS IN VALUES OF SECURITIES

| New York December l1.-A perusal OF the
no, changes In prices of stocks as result
of the days trading will give but a taih.
concention of the violent vcisstudes through
which the market passed during the hVe
hours session. During the morning hours the
drastic liquidation which was forced upon
the market caused great gaps IN the values
of securities and the market took on an APP
pearance of decentralization. The VIDE Varia-
tions in prices between sales running as nigh
as points were evidence of the urgent char-
acter of the selling. AT low point the sca'o
of prices presented a decidedly ragged APP
pearance, the declines in the long list oil spe-
cialties ranging as compared with Saturday +
close, all the way from 3 to q points, tne
latter in Tennessee Coal, Not"i'hstanuius
the days violent fluctuations the Market
closed with few net losses extended points.
The liquidation seemed to have been very
thorough and the great Improvement In the
tone OF the market during the latter part OF
the day reflected benefit to the health of the
speculative situation. The influences at work
we're so broad and we'll defined that they are
soon stated. One leading cause OF the weak
ness was the large decline from last week
which wiped out or nearly exhausted mar
gins on speculative account and the calling
for additional margins forced large
blocks of stocks on the market Many
large contingent whose hopes of an upward
turn in prices had become exhausted and who
threw off their holdings in disgust, deter
mined 10 await more favorable opportunity,
The news of tho heavy reverse to the British
army in South Africa helped to uneettle this
market as it did all the other markets of
the world. London bought stocks here in the
first hour, but this was simply 70 cover safes
made earlier in London at a better figure
The very violence of the selling movement
worked its own remedy and the day was not
halt over when evidence began to appear that
urgent speculative accounts had been thor
oughly shaken out and the loan contraction
pushed 10 sufficient extent 70 affect ma
terial relief The bears were steady buyers
for the rest OF the day and there was suff =
Gent contingent of bargain hunters on hund
TO afford assistance toward the recovery in
the prices The character of the interests
which were most acutey distressed was
shown by conspicuous weakness in the high
ly speculative industrials. Besides the de-
cline of p points in Tennessee Coal, Tiers
were losses of to points in members of
the metal group, Sugar. Tobacco and the
nessee Coal and Iron for the day was 10
points In the railways only few cases
occurred where declines reached over 2
points, New York Central, Pennsylvania a
number Of the eoalers, Louisville, and South
ern Pacific being conspicuous examples Kan
sas ana Texas was down nearly points The
vigorous and determined support of Sugar
was the turning point in the day's market
MS speciality was run up in the late deal
tngs S-i points above the low point. soaring
a fun recovery, not only of the early de-
cline but Of the quarterly dividend which
was deducted from the price today There
was subsequent decline of 3-4 points and
this stock closed IL higher than Saturday
me general list closed for the most mart
nrm at the recovery. Except for the relief
atloraGd by the days liquidation. the sign
Oh ugntness in the money markets of the
world was undated
me weakness in bonds was much less gen
par value S1,s9O0OO. A''ai safes