The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1899-08-22
BEARS MADE A RAID.
A Battle Royal Between Bulls and Bears on
The Stock Exchange.
BULLS HAD SLIGHTLY THE ADVANTAGE
Larger Part of the Days business
Done mt Prices About sntur-
days Level.

New York. August 21.--There was a battl
royal betweeg<fthe bulls and bears on thu
stock exchange today. The bulls had some
what the advantage of position. as they wer,
entrenched behind a large and we'll distrlb
| uted demand for stocks Of all varieties. Com
mission house buying was on large scale
and the movement of prices IN the majority OF
the list was varied throughout the day, real
izing going on In liberal way in one portion
OF the list, while prices were marked UP in
others. One or two stocks had conspicuous
strength. but the tendency to advance III
the railroad list has been surprisingly uni
form and took in all grades of stocks, from
the highest to the lowest priced issues.
But there were spots In the industrial list
which proved exceedingly vulnerable and the
nerce and persistent demand with which the
bears raided these stocks wiped out the gains
which had been achieved in the railroads and
reduced practically all that remained to frac :
tional limits. Brooklyn Transit suffered the
severest attack from the bears all day long.
II was offered down through successive stages
each drop bringing out Il deluge of long stock
ana dislodging copous stop-loss orders. The
success. of the bears with this stock encour-
aged them to extend their attack TO other
members OF the so-called Flower group. They
forced down International Paper an extreme
points. and Federal Steel suffered to the ex-
tent OF S9s points. Peoples Gas lost over .
points Tnd Rock Island point. The extent
of the decline invited hasty covering and
there We're rallies of to points In the
group. Manhattan. Steel and Metropolitan
Street Railway showed declines In sympathy
ranging from "a to ~ in the case of the first
n5 med Sugar was also vulnerable after an
early gain OF point and dropped nearly 2
points. Steel and Wire showed a remarkable
dropping tendency and other iron and steel
stocks were also heavy.
Inc influence OF this weakness in the rail-
read list was accentuated by late marking
up OF call loans to 3l2 per cent after having
ruled at and below per cent during the
early part of the day. The fact remains tnat
a large portion of the days business was done
at prices above Saturdays level. There were !
enormous absorptions of stocks from the open !
ing. In spite of the rather heavy tone reflected
rom foreign stock markets by the disorders
IN Paris, an uneaslness over the political stu
alton and the spread of the bubonic plague
tennessee Coal and Iron rose 4 to points .
Louisville and Nashville continued inactive. I
a number of low priced stocks were in good .
iemand, aud the large organized buying of
southern Pacific was continued This stock
VAS held back by realizing and did not at any
line rise more than small fraction over Sat
friday. Stocks OF railroads in Colorado were
Uniformly. strong on the conditions in the
mining industry.
Southern Pacific. the grangers coalers. Bal
lmore and Ohio stocks and Union Pacific
we're in large demand. Very little remains
VI the early gains in these stocks, when
eached point or over in number of cases |
American Tobacco ends with gain of nearly
points. There were number of other more
obscure stocks which showed strength during
ne day.
The bond market showed increased activity :
Nth stocks. There were conspicuous gains
n southern Pacific As. Colorado Midland Is ]
no Atchlson is Total sales, par value, S412S.- {