The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1899-06-11
BUYING AT THE ADVANCE
Large Orders Sent in for Stocks al High
Prices.
BANK STATEMENT PROVED FAVORABLE
utter Failure of the Bear Movement.
steady Resistance TO Deciins--Goid
Exports DO Not Have E0cct.

New York June io.--Yesterdeys notable
rise IN prices OF stocks brought the expected
result in large orders TO commission houses
by wire and mail today TO buy stocks. These
were put In at the opening and executed at
the htgh prices to which values were marked.
The professional operators who have been
buying stocks in tho last few days met difi-
culties today in obtaining their Quota The
market then began to sag on light transae-
tions. The low point was made lust before
the publication of the bank statement. when
prices In many cases were below last night $
level. American steel and Wire Sugar. At
Gibson preferred. St. Louis Southwestern pre-
/ forred. Brooklyn Transit and Manhattan were
the severest sufferers from the reaction. The
experts had figured that the bank statement
would show decrease OF 100000 In cash
I holdings. although It was known that only
/ 81 .5Up, 900 OF the weeks gold shipments would
/ inquire in the statement The losses OF tne
banks TO the subtreasury were expected 10 ne
heavy. Instead OF this there was oecreas.
I IN cash OF less than milton ana haif ana
4 the liberal expansion IN loans OF over $40.
5000 600 was evidence OF the easy teelnE OF
/ bankers over the outlook for money.
! Prices of stock hardened as a CONSEQUENCES
and recovered most Of the earlier decline,
Sugar touched the TOP price Tor the day ann
consolidated gas rose about 2ls points. lhe
7 bull leaders are undoubtedly counting on tue
reports OF railroad earnings. wnloh lot tne
next few weeks will compare with the same
period last year when the Letter wheat aeal
I had its collapse the price Of wheat suqdehlN
dropping on the movement Of grain ana con
sequently the earnings OF raifoaus hau tne
only notable setback of the year The gram
/ roads have been making excellent comparisons
even with the period OF maximum gram
movement of last year, the increases Tor tht
next few weeks are expected TO be phenome'
I ually large, the bull movement sought 10 pC
inaugurated yesterday in Ameri an steer anc
Wire proved abortve and the stock ialled u
rally from its weakness sugar was COMPARE
lively quiet, but resisted all attempts 10 torc'
il down The selling for London account pc
cause OF the Transvaal crisis was ignored
The powerful bear party whose eHorts y
get prices down last week were partly rus
trated. renewed their attack at the begin
ming OF this week There was great conn
denee manifested In the short selling OF SuRs
I and when after noon on Wednesday, the an
nouncement was made that the regular quar-
terly dividend of 3 per cent had been ue
clared and there was Simultaneous advance u
the price OF refined sugar 10 the trade. whicl
was aoquiesced In by the rival rennlng inter
ests the bears had not a leg to stand on
The recovery in the price of sugar CORE
sponded in violence with the decline whlcl
had been forced on tips and rumors ina
the trade was to be one OF determination an,
that IL was only a question of time when !
would uecessitate o suspension OF ulVlntnu
in order TO see 1t to q finish. In the bon
market there has been some show OF aetivit
this week.