The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1899-05-14
A GENERAL FINANCIAL REVIEW
MEATH OF EX-GOVERNOR FLOWER
HAD A BAD EFFECT.
All stocIss in which He Was Inter
ested Siumped and some very
Low Points Were Touched.

New York May 13.-Speculation opened IN
b,,hlv d.moralized condition today, owing
+, the announcement of the sudden death OF
farmer Governor Flower, General news was
scant. but many rumors connected with the
nropertIes identified with the late fnancer
were circulated. The food of liquidatlng or
ders and bear activity after the initial break
carried all of the Flower specialties down at
terrific rate. The extreme breaks In these
rroperties. as compared with yesterday. were
New Air Brake, co points; Brooklyn Rapid
Transit, 1s4; Peoples Gas. Is; International
PsEer, 49, Federal Steer. liz; Rock Island,
AZ, and Atchlson preferred. points.
In the general railway list the extreme de-
clines ranged in the active shares UP to AS
III Burlington. In the speculative speciatles,
American Shelters dropped 16 and Continental
Tobacco and Anaconda Mining over 4 points
each.
The appearance OF supporting orders and
the absorption Of large amount in the aggre-
gate by bargain hunters, together with large
covering Of short lines brought about a very
material rally, which was emphasized In the
properties which had suffered most earlier.
Part of the extreme decline was due to the un-
covering of innumerable stop-loss orders, as
we'll as the wlping out of many marginal ac-
counts. During the early violence the facili-
ties of brokers handling large business were
severely taxed, and few orders could BIO &C
cepted for execution except at 1.-THE market"
The lowest point reached by stocks today
was in many instances above the low poin;
on Tuesday last The Flower specialties
however. were exceptions and touched the
lowest in some time. The announcement By
a member OF the firm of Flower e. Co. that
Mr.. Flower had no stocks on hand that were
not paid for and that they would not come
on this market had a reassuring effect That
arm, moreover, was purchaser for client,
oil large line Of stock on the decline
London sold some 1000 shares at the omen,
ing, and later was a small purchaser
The bank statement was not fully up to the
expectations of some. and realizing and tht
putting out OF fresh short lines again de.
pressed prices after the rally, but still LEFT
quotations lnuch above the lowest The mel
losses are generally less than half OF the ex.
IRENE declines. In the Flower specialties tn,
net losses are New York Air Brake p
Brooklyn Rapid Transit IN; Peoples Gas
ola Federal Steel, SIS Atchison preferred ant
Rock Island about "a each.
The dealings for the day aggregated about
three-quarters of million shares during th,
TWO hours trading, and the lightning change.
OF quotations as tremendous blocks OF stool
eAPngeo ownership was bewildering 10 nh,
Traders. The opinions of many cid onerator,
we've widely divergent, and the quotation,
! quickly proved the useiessness of IRVING I,
suess at tbs course or prices After the iIrs
hl,een minutes comparative quiet ensued. bu
sun, compared WITH other days, the dealings
were enormous. The market closed unus
Iressure but materially above the lowesr
Inc market this week suffered two vlolen
ueVllnts, the FIRST on Tuesday Wnen aRltn
tcll as to the probable effect OF the Ford Ia,
pm worked havoc with values. This was fol
lo~ed py an irregular recovery until the an
nn9uneelnent OF the death OF ex-Goyerno
flower today gave shock to the market. re
sultnS In dip below the figures of l'uesdat
lot ms specialties, and bringing the genera
llbt nearly down TO the low level estanIis no
earlier in the week. The recovery OF part a
u { loss took place before the end OF the day'
session The net losses in the RAILWAYS rang
lhlgton. F' - ''i
Increased activity was noted in the week
DOLE market, and a generally higher level q
pFiees was established for the giit-edged is
sues. Speculative bonds, however suffere
pretty much In unison with stocks.