The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1900-02-06

Me- York February 5,Ths stock market
Vas subjected to a notable process Of digss-
ton TODAY and came through the ordeal re-
markedly well Stocks whi-h we're leaders
! in activity and strength during the move
ment Of last week were heavily sold 10 take
protts. This profit taking was met hy so
considerable an outside demand that offer.
ines were absorbed with little difficulty and
without any material concession in price be-
ing made necessary Indeed, any approach
( in prices to Saturdays level resulted in a
notable hardening in the market. Baltimore
and Ohio becoming practically unyielding at
SATURDAYS lowest Offerings of stocks fell
10 minimum and buyers. in order to Sc
cure stocks. were Obliged to raise bids 10 a
point to yield profits to sellers on their last
weeks purchases While professional op-
orators were thus taking profits at some
points in the list they were replacing their
funds In other stocks which had not moved
last week or in which the movement had
only been inaugurated. Thus with trading
proceeding on an active scale and the move
ment OF prices taking on a considerable de
gree OF irreRularity. the market presented all
the characteristics of a true bull movement.
Upward movements of prices were easily
achieved and the speculative sentiment
showed itself Quick to respond TO any new
DEVELOPMENTS regarding special stocks. Thus
a number Of railroad stocks responded quick
ly and enphatically 10 returns OF earnings
for the fourth week in January .show wing large
increases over the high level OF last year.
The leaders OF the railroad list were the Nor
folk and Western stocks. the fourth week
statement showing an increase over last year.
AS this is one of the roads which by reason
OF previous heavy OUTLAWS is able to reduce
the current rate of operating expenses the
showing was doubly effective, The common
stock advanced 3Ss and the preferred ~. The
st. Louis and San Francisco. Denver and Rio
Grande and a number of other railways re-
sponded TO good statements of earnings St.
Paul and Burlington showed renewed strength
ment OF grain over Western lines, in add
ton TO the extraordinary movement of gem
eral merchandise. The iron and steel stocks
continued prominent and leadership here was
shifted also under the influence Of realizing
in American steel and wire ard some others
The new leader OF the group was National
Sttel. which was very heavily bought on float
Ing reports of enormous earnings for the mast
year. Reports OF similar kind have been
uuheeded for the most part in Wall street
but TODAY the stock shot IN under Their in
tueuce an extreme S7s other members Of
the metal group, closly allied by identity
OF ownership moved In close sympathy Spec
uators are inclined to discount to some ey-
tent the increase in tho circulation provided
for In the financial bills OF consress and III
consequence ignore some Of tho indications
OF encroachment on the money supply on
other accounts The market closed active
and strong at best prices for many stocks
The bond market was Irregular and not so
active as OF late. Total sales par value 81
70s50o,
Following are the quotations on stocks in
New York as received by Csrsill & Richard