The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1900-07-27
i'm THE STOCK MARKET.
1, Was characterized by an Attitude Of
Waiting; Buyers and Sellers Scarce.
MARKET WAS NEARLY STAGNAET AT TIMES
suGnr. Tobacco and Brooklyn Rapid
Trnnsit Formed Center of a Feeble
Attempt of Bulls to Advance.

New York July 26.--The waiting attitude
OF the stock market was emphasized today.
Both buyers and sellers were scarce. and
the market was nearly stagnant, as shown
by the long intervals during which he ticker
was motionless. The professional traders had
distcLraginE task in their trades The
market was equally reluctant to follow the
lead Of the few stocks which showed any
strength or to respond to the exceptional
wcaLress in one or two CAGES. Sugar To-
bdcrv ard Brooklyn Rapid Transit formed
the center of the rather feeble attempt Of
the bulls to advance prices. Tne latter stock
was lifted at one time over points. Re
ports were circulated that the statement of
earnings for the fiscal year will prove bet
ter than has been expected. But the high
prIoes were very poorly held. and in fact
were entirely lost. though a slight rally
saved small net gain Baltimore and ONO
was the most prominent sunerOr from sellnS
aud vas Traded IN ? points below yesterday;
Euubl was cast upon the promised DIVIDEND
Or tht half year by current rumors.
senii-ciiicial announcement given out In the
day that a halt yearly dividend OF per
calIt would be declared in August caused
the recovery of less than half of the loss.
Missouri Pacific was also notably soft on the
practical abandonment OF recenly encouraged
honcs oil II dividend. The decline III the
OF the Southern Railway reported yesterday
anl arousing APPREHENSION OF other decreases
to come, was depressing influence. Inc
steel stocks were quiet and Irregular, pend
ing the conference of steel interests in chi
cago, and their undertone was heavy on the
rather threatening attitude reported to nave
been assumed by the most powerful lnteres
in the trade The advances in ocean irelght
rates owing TO the withdrawal of various
German steamships for the transport service
to China, was an unfavorable influence IN
directly upon the steel prouD as the scarcity
OF ocean freight room is hanpering the eX-
port prospects IN the pig iron trade. Metro
poltan Street railway was sharply depressed,
with no explanation and the less III Della
ware and Hudson was due to labor troubles
in its mines. Sterling exchange advanced
all additional fraction and the tone was re-
rorteI strong, Exchange bankers saw that
the rate has not yet advanced to a pont
that uHers profit on exports OF gold %
10 don. But It is believed that the advance
will continue until the export point IS
reached. Tho Paris requirement Tor gold
from New York seems to be satisfied for tho
time Icing. But sterling aXehar se In Paris
fell apain 10 one centime alo~ tho Tuesday
rate. which had prevented the expected move
ment OF gold from New York to Paris. Con-
siderinE the meager recuperation in the Banl;
of Englands condition, the failure OF The
governors TO iaises tho minimum discount
rate was surprise and the private discount
rate in fact rose above the pank rate dur ns
tho day The weekly statements of Uoh the
BauS Of France and the Bank Of Germany
were strong and the immediate gold require
meuts are evidently greatest jor the British
mgtitution.
Both London and Berlin are reported to be
large sellers Of high grade American railroad
bonds. But the operations are evidently
CO. dut ted through other than stock exchange
crJnncle, as there are no large transactions
made there. and prices are little changed
The selling Of high grade bonds nv foreign
hodIs with the offering in this market OF
foroieo government and municipal bonds
goes 10 explain how the country's enormous
balance in merchandise account Is being met
Total sales mar value. $50 900. United States
refurding % (when issued and the IS ad-
varcrd hr and the new Is. coupon. old 5s
and Is lsc in the bid price.