The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1899-06-28
STOCKS WERE STRONG.
Railroads Closed at the Highest Point Of
the Day.
NEW YORK CENTRAL CENTER OF INTERFs7
Federal steel and Sugar Were Also
Advanced-The spcciaitics
Were Weak.

New York. June 27.-The activity of the
buying Of railroad stocks showed some falling
of in the course of the day as+~ a notably
active opening aud early buying movement
But the demand sprung up again In the last
half hour of the trading in full force and car
rled the prices of railroads to the highest OF
the day New York Central was again the
center OF interest in the market and 1t was
a final squirt of III points in that stock that
nave the market its strong close. The last
sale OF Central was at 1i01s, the highest Of the
day and 2l2 above last nights close. The
late buying OF the stock was on very large
scale, blocks OF 1000 snares and upward show
ing quite frequently on the tape. Manhattan
WAS also rusned up In the nnal dealings to
llbA on the announcement of the closing of
contracts looking to the change TO electric
motive power.
the bull leaders were evidently in con-
certed EFFORT to make final prices of the day
the highest. The separation of the trading III
the railroad and industrial stocks was not
quite SO sharp as yesterday. Federal Steel
was conspicuous at the opening for an adj
vance of Us on the dismissal of the inJunc-
ton against the payment of dividends declared
on the common stock. Denials from official
sources that any labor trouble was impending
among the street railway employees in Greater
New York also gave an upward tendency 10
Brooklyn Transit, and Steel and Wire showed
some sympathy with Federal Steel, since the
directors of the company had assigned the
lD1uDctlOn against the FeueTdl steel COM
pany as a reason for not declaring dividend
on their common stock Sugar was also dis
posed to m We upward But the early prices
In the steel stocks were the best of the day,
and in none OF the industrial stocks were last
prices the best caused by the weakness of the
specialties the hardening tendency In the
money market until the final upward squirt.
The days business as whole, however,, was
larger than for some time past and was re-
nlarkably well distributed throughout the rail-
road lists. today's reports OF earnings making
a good showing.
The heavy dividend and interest obligations
to be met on July will make heavy tempo
rGrv demands on the money market The pos
sibility of squeeze in the circumstances is
taken into account by some observers. But
II was noticeable that todays hardening OF
money rates In New York resulted in fail
in the rate of sterling exchange, though tn
rates for money In London were also higher
on the demand incident to stock exchange
settlement London bought stocks in New
York which Is said to represent bear covering
on the settlement and which had its infiu-
ence in lowering the rate of exchange But
whatever temporary furry may occur in the
local money market, the July disbursements
will undoubtedly bring relief These are esti--
mated at 81 900, 900 in New York, $40 900 600
I'm BostS1 and $14 100000 in Philadelphia. on
account of interest and dividends. There was
larger proportion than usual OF today's
transactions made on three days contracts.
The bond market showed increased activity
and strength in sympathy with stocks: total
sales, par value. s2,327, 900.