The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1900-01-05
in THE STOCK MARKET.
Continued Heavy Selling for Foreign Ac-
count Mystery.
SOME FRICTION is POSSIBLE IN EUROPE
On Account of Seizure of German
Vessels by Great Britain-Proht
Taking Caused n Reaction.
fsnecial 70 The Post.l

Co. say Of stocks:
stocks opened lower with London. There
was a good deal OF continental selling here
Later on they rallied. stan1aru ot rr 'n,er.
esls bought the railroad list, especially tneli
own stocks and trunk lines Political rumort
disturbed London for time, but later on
/ they we're dismissed as mere romancing. Ger
many sold stocks heavily. Money was easier
/ in London sud higher in Berlin, here : TO
per cent closing at 6. Sight sterling oNcnanse
advanced &c and sixty day bills, &c owing &c
/ low or London discounts London arbltragt
I houses sold here 5000 shares, mostly Union
Pacific Southern Pacific and Atchson pre-
lfsrred. largely for continental account. New
York Central was bought heavily by Nanner'
/ hilt interests on tumors Of q big deal per
haps the control OF the Boston and Maine oJ
| the Central.
New York. January 4.--The most ccnspicu-
Gus feature OF the days trading in stocks was
the continued heavy selling for foreign &C
count. about which there was considerable
mystery The orders to sell in New York
came from London but London attributed
I them Ia Berlin account Vienna also reported
sales on its exchange for Berlin account. IL
spite of the explanation that Berlin selling
was forced by the money stringency the Der
lin discount rate showed a raise Of only Il
| per cent In Berlin itself the depression was
attributed to the decline in English consols
and to the caputre by the British of the Ger
man steamer General While the motive OF
the foreign following was obscure and con-
| fused, the fact Of it was beyond doubt. Sales
| by the arbitrage houses in New York again
| footed up $4,000 shares on the various interna-
tionel stocks. There is undoubtedly some un-
easiness in financial circles abroad over the
! possibility of friction between Germany and
| Great Britain over the seizure of German yes
! sells. 1t is worthy of note that while interest
rates declined in London and the Bank Of
England showed a notable recuperation in re-
sources in its weekly statement, sterling ca
| change at the important centers advanced
sharply, in spite Of the hardening of money
rate in Berlin and Paris. The New York
sterling exchange rate advanced at the same
| time without affecting the local money mar
| ket where the rates ruled from to per
| cent. The influence Is warranted that London
| is preparing 10 make further requisiton for
| foreign gold supply and that her money
marbet will have TO meet demands for com
ing government loans. In our own stock mar
ket the considerable offerings for foreign ac-
count drove prices down at the opening near
| a point in the principal international stocks
| The level OF prices thus attained coming after
Yesterday sharp decline proved SO INVITING
that large and substantial buying appeared
which forced recovery in prices by the enc
| OF tho first hour Later New York Contra
was bid M sharply to 13I and the short inter.
fsi IN sugar was driven to rout by stories o
a settlement Of the trade war. Yesterday
lreaciionary market induced quite an enlarge.
mont Of the short interest and their demand
to cover was an important element In tn,
days recovery In prices. The special,iet
showed wider changes than railway stocks
nut the demand for railways was large anc
wei distributed and except for the specia
strength of the trunk lines their gains wer,
lutte uniform. A movement to take profits II
the last hour caused material reaction
reaching to over points in many railways.
Dealings in bonds were not large and the
market was Irregular. Total sales, par value
81, 1885, 600