The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1899-12-29
in THE STOCK MARKET,
Railroads Were the Features During the
Day.
DECLINE At CLOSE WAS ON REALIZING
Four or Five millions in Gold Has
Been Engaged for Export satur-
day-Hint to the Wise.
Especial 10 The Post.)

topecldl W ING rontA'
New York December 2S.-S. Mum, Son 4
Co. say OF the stock market:
Railroad stocks we're the feature, opening
firm and closing weaker total sales ,O0t
shares. London was higher and later de-
clined. London bought early and sold later.
Gold exports Saturday are estimated at
s.. 10000 TO ss,0c0.o 600. The decline towards
the close was largely on realizing in Man
haitian Brooklyn and Sugar in which the
rest OF the list sympatbized Standard Oil
interests bought the list, especially the in
dustrials. which some think is hint for
wise men to keep out OF the industrials.
Money was AZ TO per cent, closing at s
per cent Sixty day closing exchange ad-
vanced &c. owing to a drop in the London
discount rate to So per cent. Repurchasing
of stocks by those who sold during the re-
cent panic was feature. First rich men led
the way last week and following these bar
gam -hupters came men of more moderate
means. who believe that the tendency is to-
wards improvement We concur in this view.
New York. December 2s-The changes in
prices today were largely due to tho opera
lions by board room traders. The srratic
fluctuations in the market reflected tho un-
certainty OF this class of spectators. They
sold the market at the opening on the lower
prices from London The substantial char
acter of the buying demand which they met
and consequent refusal Of the market to go
down caused them to turn TO the long side
The highly mercurial specialtes were the
iaNorites In the dealings and of them
were bid up in rather sensational manner
Metropolitan Street Railway, Sugar and
Brooklyn Rapid Transit were the most con-
sp!ouous features of the market all dav
The rise in these was so considerable as |
10 invite the realizing of profits toward the |
closing of the day. This caused the market |
TO run off at the cost of a large part of |
the earlier gains established, The November |
statement OF st. Paul earnings showing the |
increase in the gross earnings more than |
wiped out. with resulting decrease in the |
ret return Of over $4,000, had a marked |
erect on the railway lis1, which declined
sharply throughout. The fall frcm the ton
level in st. Paul was les and reached point
IT number of other railway stocks. This
consequence was mixture OF ne. gains ana
losses, although ;ho market hardened in the
nhai dnolings On demand from the shorts 10
cover their contracts. While the movement
OF prices was largely due to professional
man mailpulatlon there was good volume Of
business representing q continuapce of sub
stahtal demand from outside sources through
commission houses. The demand for small
lots OF stocks continued In evidence. espec-
ahE on any reeessions in prices. There was
no evidence of Ut easness over the mone,
situnilon and no pressure to sell stocks Al
tuoueh prices were lower there WAS no evil
'thce OF any fear of dstrust at that point
WIN me progress Ct the settlement. The
n ORGY situation in New York continued easy
a..u conf Gence is felt that the short remain
ing ter.od before the close of the year will
De comfortably tided over. Some corpora
Tons are anticipating the January payment.
MoEey is coming to New York from out or
Town sources. partly in the form of returns
on christmas trade to be deposited In the
oaIks' partly in the form of remittances to :
make good losses stocks in the late do :
Zine and partly for investment in new ae
cunts in the stock market The special s
pressure Tor funds from Boston has relaxed
ana New York exchange at that center rose n
% par The shipments of gold announced 7
or saturday has little effect on sentiment !,
wing TO the feeling that forces are al work ',
business in the bond market was on Y
AIRY easy scale and prices for the most c
la a advanced, but there were enough excep-
siss par value SO 275.000 re