The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1899-04-08
SENSATION IN STOCKS.
From Five to Fifteen Per Cent Asked for
Call Money.
THE lNDUsTRIALs DISSEMINATED AGAINST
sto.'ss which Stamped from Ten TO
Sixteen Points Recovered 10
OF The Losses.

New York. April 7,-Todays sensational
stock market was remarkable for great d.
clines that took place In practically all the
specialtics Losses Of inheritance remained
at the end OF the day. although the CLOSING
was strong. Tho potential influence behind
tojayB plunge In prices was the money mar.
kct where discrimination was exercised
against the industrial securities. Tho ila5r-
ity Of some large firms TO renew loans on
those shares collateral made II necessary
TO saerinco stock at the besc prices obtain
aple,
Can rates for money RANGED from 5 to Is
per cont. but left on al the lower figure, The
lorced sales ny many commission houses lent
renewed courage TO the bears. VINO instantly
touna new spGts OF weakness. a nUmoer "
money lenders on the moor Of the eAcuange
refused TO pay any attention TO the pius niads
by some brokers who were known TO be trad
lng heavy in lnduslrials. the calling Ia 0.
some loans also helped to arouse alnrin and
inuueb genera seiling, Tne weakdess OF many
stnu1aId stocks ana bonds was dne to no
otner cause ascertatnabls except the selling
Of them by weak holders to protect securi-
ties OF less certain value or 10 secure funds
TO buy the shares winch had been most de-
presstd Ia none of pront Oh the rebound.
London winch of late has been al unim
portauJ factor in the desllugs, bought W.
wards OF 10000 shares on the decline mere
" nile tie socalied bull leaders appeared
apathstic Oh tn downward rush OF quotations..
1tdNS sCult Dullus appeared, CdTrNlAB WIN u
the convection that the buyers did not b.
lieve the violence of the bear movement wUula
last. This support gradually checked tno
hercs onslaught on prices and recoyeries ca
sued
Much thought was given to the urobsble
aspect Of tomOrrOws bank statement. the
rally was found in the Offering OF several mil
lion dollars in the loan crowd by an Interest
lately very prominent among the bull leaders.
When prices were not far from the Lowest.
number of commission houses freely a.
vised purchases where the buyer could taka
the securities outright or on very substantial
margin. Buying of this character had much
TO do with checking the rush to sell.
Many interests which had been out of the
street for long time thought the time on
perfume to repurchase as IT, appeared to b.
one OF the bargain davs which have developed
at various times of recent years. This buy
ing gave a considerable momentum to the
q ternoon rally, which embraced everything on
mo list and resulted in reducing the net losses
10 very small proportions. In some cases.
and In establishing slight advances in Others
An idea of the vide movements which o.
CURED Is given by the fart that although
BROOKLYN Rapid Transit broke 1874, the re.
loss on the day was oly 5a4 points. Metro
politau lost 10 and gained 1873. Manhattan
Welded o. but reEained ~ Sugar sagEed lSh,
but only showed 2ia net loss at the close
figured for only points lower on the day
Railway and miscellaneous bond prices also
showed q yielding tendency today, with the
transactions of 5000 00o
Total sales Of stocks 129ttm shares: in
Guiding Atchison preferred $3.50 Manhattan
81 500; Federal Steel 30 2ll, Brooklyn Rand
Transit Isl, SIS; Sugar 63,30j.