The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1899-12-20
IN THE STOCK MARKET.
A Panic Among The Bears During Late
Hours.
PROFESSIONALS TOOK THE LONG SIDE
Mondays Tide of Disaster Stcmmcd
only by Titnnic Efforts by POWER
full Financial Interests.

~ "''
iui fihhhci"'
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New York, December l9.-There was
comple,e revolution of sentiment in Wall
49,. -, -. ,r, ~ tho SOS.
street To-Day ana inc lat''i par W Wv
sion OF the stock exchange Wltncsscu 7O"i'
thing like a manic among the bears. VINO
na ,,,a,,ta ....i cor,. 10 secure stocks
"e'e i'""e i'a"''r La. ,,.,cos
to cover short contracts ana nluu'ns
up ON themselves. The professional traders
,ool The lop,, edo NJ tho market and bid up
'ouN '"e ''"t siie VI i", - -, 49,.
prices 10 take the market away I'm
bears Many operators who had rutriessIy
eacrisco4 thei, hoidtree IN tho rardcrnouiuln
- ,'.,..rs i, The
OF NesttiuaN we're also taS'' Wy
tupe OF retrieving losses. Besides these q
r,,pt. thora wig a larre CONTINGENT of bar
80. ,,,,, - - -, ,.,o,,ie ,,ttp re9dJ
sdin hunters nidue w VI '1'I' w..
money looking for good investments 1lu "'"
Buy outright TO hold some such revulsiou
of feeling was 8 naiuroi consequence ~ tu.
violent tau If YESTERDAY which oyer-rau A.
self. Tho ISSUE OF the speculative CONN
vas tv no aaus certein untl arout md.
ygv nj NO session and vestoruav'a tide OF
disaetar was NOT rtemmeI without fitanlg
e>tTtlcnS on the rari OF :he most powerful
.tnauclnl inietosts in the countfy IN concert
Millions of dollars M money were torth-
ccininp TOR ,he evtenston of trcdits to buyers
of securities The clearing house banks -up-
plemunted their Yesterdays toutnbuion OF
SO OOc GOO by another OF the same amount
to be loaned m ,be nnarket rate
Tho annotinred oetptInIiatiuf, Of the scC re-
tary OF The treasure to increase government.
domestic in denna,+rrv honk. caye nrunlise Ul
available gave relief until the market closed
lnoer the influence OF this abundance yea.
terdavg panic rates Tor money were at 40
time annfnaohed hr, the demsod tor loans
mad inrosds on the s1pply win seemingly
ins1tiohia snnett,e Tho rare vent 10 =, uor
cent hut stesdilv declined from that nom,
Under the onerlngs OF successive millions
until 4, was forced down 10 & ne, renr and M
the lata ofternoon teU 10 H. :, a ana al li,t
10 nor cept As soon a. the stringepry
relaxed II became manifest that rho pressur.
os tn,iidation yoe released md me market
ion INFO a calm maj sen,oej profound hv
contrast with ths constant burly hurry siuce
Yesterday morning. Whom the money rat,
sen a. an anev hasis vices hog,n IN reho,,nd
shown. esneciaIly in The mcrrurlal spectal-
Tics Tho advnnces v,er. 50 large ms 10 IN.
vite conslderable nroht-taking by The trader
in th anal H. aiirgs t,,t ~ urdertono r,,, .
iin,ted stronr mil Tho ,losa WREN showed
suhrtanttai 10, ains ali thro,,gb tho Itst
;rbe enriy hn,,rs oft trndine ,yIinessed very
beavv unuidation in ronsaonerce OF vester-
davfs rrocese Of r.cu,or,tioN bnt tbero ,yas
no annroncb To Nc NAM conditions Of vos-
torday ~ ~, ,i,un re oytsnsi,,n and siah
orntc rranntatinns ,rade ~ n,not tho crfsi .
onened nt Iareo nd,,srgcs7 Ill ,brn,ph ~.
Isl mis- rne,,it 80 haI,,aa h,. INC b,sbn,
ssn, n,s,. IRON, i ondon ,vbare In.
stock nxcbonro had n falsc rt,mor of !, martial
,-o,.;,,,I ~, ,,,,,.,,r ti,,tior Al t,;s ..c,,,t
disnetcr III Nm r-tccs To-. ,r,ericane -,
\ n',d ms AZ tn ~, 20 r,a1,,, ~
i,Iatiom nrdera rabls5 rom his sid In
gia,t IN VI ueIs Iapieu ttuih TINS Siue.
VI, ISnue vi me goherHI pian ~ Sustata
a. ~ w, WV .S Vlviiis ,u IL
which rromntlv drove down prires in s1iis
~ tho mtmoet offnrts IN smet,tn ,Len VI
a fa etonlg honc6 o,.SSsn"ns W. -.
weaknnss ,,d no A., 40 azure ttra5iins
80 10" "'n nH' ~ nou ~
able CONFUSION of sep,,msn,, Tho std9dv alb.
sorptiye power OF the buyins Vas bound 10
hayn a rnsssnrfnc Mo-, ,mI ne ,snna ~;
nbicb tbe Wnnida To- n9,s hrnr,h, ~, ,d ="
SIN n,as biobi, i,a',t"ssjc w 7'i' ~ '"'N
Even before tho NOON hour s,feciapt s+,-
biiitv hid heen estshIishaJ ~, 80 ~. ,e
nort ~ " ,aiiur t ~ -. w ,A' eno
i9ostoo ,,.h,rh re,,is -, 49, aouse IN
denoralize vestprdav,s nertet u'''''"' ~
Win tx snbstd ac . ~ w.,
n ouio,er view 81 oonditiors - o,led ioi'S
study az mo ,,c,s A., Nn,,,e,,tta' iYp t.u ~
trust companv which came -, ,ts, w ,a, .no
day and OF the securities vim vbich u ~.
inyhlved sbo,nad ~, IS, 49, ny" " mds
10 he tats, n. T,e tGSn ~ un4ue anu nor
ana distrI,et wLich er ri, "t6gt t1 iea,
only Of ali trust nr, ra,ios H.; Ii 10! ua!, ~.
securities Neye,theress trar. ',n ,a'"u3'iid'
dance of nrorantion nnd discrtn,tn,,,n Iuun
toIo,, ,tna "'''' ul9V' uutlon SHOWN
necIaIl, In tbe niacine 90 ,n"us .rt' ta-
nor occentabIa ne ro1ia,o . ~ were
NOT easii,, rroonr,t fnr ~ b. "ail mont; was
portlnr them in tba ,,,a,,nt P 3 puhe VI SUI
that the anancIai pn~,srs , ~ Wig reported
ures of reiief were not aitogstber Us d ,nras
mont as To Tho intt q. osotneI III agree
real btpoGt wooIn sccrrc 9 ,pnr, enat no
some of the industrial securities. But the
uuhser dlselosed by Yesterdays events on
in favor NJ he ,oIioc 'ruos valF'eG inc Gay
sion of the banks was to place ali tbeir a,sti-
aoie resources mt the disposal of borrowers
,osar,, 'T M, 10 the enect on the surplus
Inn No., NY, NY Nno"ieuge OF {hls determine
nrahamauVa '''' ~ ~ 10 WIN aiaylnS Inc APP
n,ada s,,rt ne hspeF rates lor money
iuatio .''HN tue nay were uue TO alscilm-
iaIarai III account OF me character OF col
rlearimy h us.iLIls were included Tho
an n' g Soillnssioh was ~ session
inat ~, ny uaE, put ny the uIne the market
s'saeu h"u Nolne 10 the conclusion not to call
- ni'e'sns lot tomorrow, though further ses-
s,sao t.n Se hau II neeueu Yesterdays UNI
, .nSuNn'u events ON the STOCK exchange
a a,, Immense throngs 10 the hnaucial
uIsi , t"Is morning Inc galleries of the
sAehanse were lnadequate 10 meet the de-
,n',nus npon ,ntnl ana great crowds of all
so o ~ anu ,ohultlohs OF men and women sur
itpuhued mo approaches. The strain upon
ln' BROKERS ana operators was severe one
una Tue scramble and turmoil upon the floor
VI the tANnADeP made scenes of lnpAtripahlu