The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1900-05-27
kIS DULL BUT FIRM.
!. tlII,msni Of Failed Firms Affairs
the Only Feature.
gq,c INFLUENCE SILL EVIDENT
.sat Banks Holding Collat-
,ui Not Liquidnte Their
ice showed Weakness.
...,., 10 The post.)


tspeciai to The Post.)
Way 2s.--s. Mum, Son & Co.
y. dull but, in the main, firm.
,over for Americans with Paris
..sr ,tocks there, but money con-
~ Trade, though less active. is
prosperous. crop prospects are
Z. 4, GOD in the country and railroad
Of earnings continue to make
..b,si,s. The bank statement was
There was good deal of buying
n, steel for both accounts and the
|.sl, generally we're strong. The gran
n. arm features with good demand
Grs.c,scs and Atchison. Metropolitan
81 aarly. but rallied on covering.
w. strong. No attention was paid
'.,rns,tlon against the advance in
isiand fare which is to go into
". a's9raesdsy. The bull pool In Sugar
~ buy the stock. Ice declined
:. jlouidation owing to the legal
w against the company. The bonds
.'sSy The eifeot of the bis failure
.sSsv has not entirely disappeared,
,nss was more confident, though
y. stiu dissemination to trade freely
N, side of the account.
~, reserves Of the banks increased
|E md now amount to slS,S12,S-5,
a al w. us q year ago and s53,7O4,6JO
N. aso. We still advise purchases OF
|,sIrosd stocks and bonds.
ycgk, May 26.-There was no change
E,sious in the stock market today. The
|sto, influence OF Thursdays failure
- 10 oycrhang the market to diseour-
Il, speculative activity. A large pro-
4 # Inc days small business was given
Il transactions In settlement of tn
trm's affairs. The firm OF brokers
suyiug yesterday was said to repre-
F. transfer Of the accounts of the GUS
\ Il Price, Mccormick & Co. was again
'slsuous operator today. These opera
represented a re-entry into the market
n customers OF the failed firm to whom
Isere paid of when their contracts Were
out under the rule of the exchange.
rsyaton is a sustaining influence on
1 md waa especially evident today in
Pacific. The prevalent belief that the
which hold the firms collateral for
vii not, all OF them, throw the collat-
4 tho market for forced sale to liquidato
L:ns. also served TO relieve apprehon
IA some extent. Authoritative denlals
be Of the rumors put in circulation of
. financial difficulties was an influence
n relieving depressions. These fac
h will be observed, we're rather negative
l;neter, but they served to keep the
h pretty steady. The sharp rally In
i vas favorable factor. The shorts
II Ii Sugar. Railroad earnings were
Ehs and especially the April statements
aafnlngs OF the Hooking Valley and
Rtthson and the strength of these
helped the rest of the market. The
4 was nevertheless heavy at conces-
from highest prices. American Ice de-
further on the prosecution instituted
II the company. The bank statement
ihout as expected and was without in
i Oh the market.
stock market has been dun all week
iyeratons have been almost entirely in
Eto1al hands Commission houses in
street are almost deserted and no orders
|ssrtance come to them by mail or tele-
! Several Of the professional stock OPP
I whose dealings have been on an ex-
/: scale. have Joined in the summer exo-
y Europe and so far as Indications
have withdrawn from an active share
i dealings In stocks. There has been
u reject the general conditions OF bust
except as the dullness is a negative
uior o. the doubt and confusion regard
ns tra,S outlook. Speaking broadly,
rsrnent Of prices has been contrary
p Of last week. The bears have COW
|kysely In the industrial stocks, which
|nl short last week and the railroad
asye lost ground on the week. On
lys the trading In Sugar and Tobacco
raae more than half Of the total deal
r III stocks. The failure of Price, Nc
~ & Co. did not cause anything like
E.ltation In the market, but it had
Ply uIsettllng effect on speculation.
s'iusion and uncertainty had the ef-
n rather Increasing the apathy OF the
market. The firms differences were
cAt as due to cotton speculation and
'aslng out Of its contracts under the
n the stock exchange disclosed that
fent movement Of prices there had little
sNh the failure. The fact that large
EYE Of the firms contracts in the
were on the short side served to
,ae rapid fall of prices, which set in
W allure was first suspected, Never
sne forced closing out of SO large a
N Of speculative contracts In a dull
ana the doubt of the effect which
wproduced on business owing to wide
FSsuon OF the failed firms connec-
lsu depressing effect ON the stock
Rowing plethora Of money has no In
u stimulating speculation. This Is
II we phenomenon Is clearly due 70
LEASING activity OF trade Complaints
|EEg .as IN consumptive demand, increase
1s ana the growing necessity for
/. uown production and making further
L~eas IN prices in order to invite a
F'son o. buying, gain in frsnkness and
vser those heard heretofore In the
lF' particularly, the further shading
ana the shutting down OF addi-
sns nave resulted in only slight ad-
E |rs new business. This leads the Iron
lr'.aalus as the organ of the trade, to
A II, snaro curtailmenh in the produce
aon and steel. The same authority
~, ioreknowledge OF an extensive
10 that direction already deter
I'n Cutting down productitS1 means
employment for labor and falling
n ..ss pVNeI. IL VIII arouse Tears Oh
,ae disorder. Even the growing
|s 81 money and consequent pressure
kss. ior profitable employment had no
|s eject on the security market.
process which has been
.s. ~ the foregoing market has at
i'suIlec In bringing down the official
y 'rles OF the Bank of England, the
Srslsnce. and the private discount
lvnoon and Parts have fallen below
NJ, FORK rate, thus withdrawing tho
% American capital. Even the
saey market grows easier. Money
% TOW to New York as It goes
In the interior and the
|Iwh5 Yields small return TO the
49, money market on government
~ TIE calling In of the govern
ks.sTsnuea per cents is not expected
me money market, as the
srre9eem them will be withdrawn
Hunent deposits In the National
|ssl Nng are the closing prices or tine
esAs IN New York; Closing