The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1899-06-01
VALUES HAVE DECLINED
According TO Views Which just Now Pre-
vail on Change.
STOCK VALUES SEEM TO BE GOING DOWN
rie,d nav for the Benrs, Who Hnd
Everything Their own ""s-"""
Exports Confidently Predicted

New York. May S1.-There was a re-
crudcscence Of bear sentiment on the stock
exchange today in more formidable array
than at any time hitherto since the spring
resctionary period has been in force TINS
sentiment met a decisive check after MI
Flowers death, when some Of the most
powerful financial interests in the country
combined TO support prices and avert
panic. 1t had but newly lnaugurated
campaign last week when the decision to
close the exchange for few days lett the
leaders in a rather timid frame OF mind
about carrying short contracts over for
SO long period. Today's slump in prices
seemed to be distinctly development OF
the days operations There was small
attendance at the opening OF the STOCK
market and a seeming expectation OF
dull day based apparently on the fact OF
the running OF tbs Derby in England and
the consequent neglected trading on the
/ London exchange. Some OF hee stocks
which suffered most severely IN the latter
break showed signs Of firmness ana even
o! strength in the opening transactions
This Vas notably true OF sugar BFooKlyn
Rapid Transit, Manhattan and New YORK
Central. But signs OF strength proved 20
were in complete possession OF the heIu'
Early declines were obviously due 10
manipulation. But as the bears gained
courage and assurance and extended their
raid they got richer and richer returns
and before he day was over the general
process of liquidating Of long accounts
had set in. Aside from the recovery OF
Sugar in the first hour, there was no ma
terial support ACCORDED prices at any
point in the list. TIE decline seemed
more a general acqulescense in the view OF
the bear party that prices were as a whoie
unduly higa anu hat lower level o.
values must be accepted. The belief that
gold exports arc unavoidable, and probably
imminent, played an important part in the
reactonary temper OF Vne street. WIFE
sterling exchange at ASS for demand
which is within fraction Of cent o
the gold export point, and still rising
while discounts III London continue "a
harden and call money loaning IN Ne"
York today at ga per cent, It is not easy
TO see now an export movement OF gold Il
10 be avoided though il is jus, as Difficult
TO understand why such movement undel
the circumstances should excite alarm. Int
report OF case of yellow fever a. New
Orleans and the resulting quarantlneS
against Louisiana gave more substantial
reasons for reactions In values. and m
railroads in that section were severe SUI
ferers Some Of the striking declines a
the extreme low point were; Me;ropoli
tan Street Railway, 1872, Sugar, SS-l
Brooklyn Transit. 614; Manhattan, Is
and long list or specialtles from ? to
3 ar 1 points. In the RAILWAYS Burlington
Southern Railway and Southern Paclh
= fell TO 3ls points, while members OF tn
a Grangers. Pactfcs and Trunk Line grou
! fell between and 3 points.
Bonds yielded in sympathy with stocks
but we're relatively frmer Total sales pa
! value S46h. 00N.