The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1900-08-19
IN THE STOCK MARKET.
Discussion Of Rapid Transit Sialeme
Aroused Interest
SOME PRESSURE fStRTtD AGAINST II
lures of the Market-Nnrrow-
ness Was Accentuatcd.

New York. August 1s--But for the interest
aroused In an analysis Of the Brooklyn
Rapid Transit annual statement professional
operators would have had little influence in
prices. Although the reports showed that
shade over l per cent was earned on the
stock discussion OF specific items was UNI
favorable. For instance The high ratio Of
operating expenses and outstanding loans of
N,00O-0U0 aroused comment. Decided pressure
was exerted against the stock from the out
set. an extreme loss OF 2iac being made,
with the net loss reduced to rs on purchases
by the short interest. In Peoples Gas
tall of per cent was without adequate ex-
PLANTATION, but this stock also recovered
somewhat in the Anal dealings. The move
ments were the chef features of the mar
ket its narrowncss being accumulated by the
absence OF London operations. it being
holiday over there. Railway stocks were
relatively better sustained than the general
run OF spec .alties. The publication vi the
second week OF August earnings Tor many
lines showing numerous increases acted as
prop Tor tnls d.vson. These Statements
demonstrated that tonnage was increasing III
widely separated sections For the south
western quarters M Ssourl Pachc showed
gam of S2S0u0. In the South Norfolk and
western led with S56,590 ana the West was
Great western AS the time approached lJr
Tho publication OF the bank statement, bus
NJ S. became very restricted. Tue statement
met general expectation as to the cash loss
OF SS.34l,GO0, Accommodations to the dnGer-
writing syndicate IN connection with the
British loan accounted for the greater part
OF the increase in loans or S6,oj' 900. Lee
posts were reduced S3,u9l 600, and the gem
eral effect was the shrlnkage in the surplus
reserves OF S7,56S90O, a replenishmant OF
the banks losses this week IS expected TO
occur speedily. aQVlCeS from EaCtuC coast
points announcing the receipts OF S45O0,o0o
Alaskan gold. This, It Is beLeved, Will be
made available 10 the local banks by gov
eminent drafts on the subtreasury here. In
addition, payments are now being made on
account or the redemption OF the old gov
eminent Is, involving some S-0,0OJ,0J0 With
these factors taken into consideration, 10
general uneaelness is felt as to the iinme-
date future of the money market The wall
street maxim, when gold goes out stocks
go down for once was exploded his week,
the shipment OF over SS,000.000 at
| tended by rsing prices. As the exploration
of over SlT 600 900 gold during tine last two
weeks does not make very serious Inroads on
the countly's holdings and as constant &C
| oessions are being received from natural
! sources Wall streets equanimity was not
| surprising. Where the drain Will be most
keenly felt is in the reserves of the New
| ork banks Discussion of its influence on
| future money conditions has some we ght on
( the week In consequence OF sales OF sterling
! bills rates for sigh drafts reacted lc 10 the
! pVnuu. n WilUuIHWai oil INTEREST dllDNdHNt5
and currency rate of i.S'ia for demand
makes further shipments unlikely. The
terms of the bond sale to the syndicate cail
| ior an install iment of % per cent of the pUr-
| chase price September IA Whether the bal
ance due on the operations VIII he reta ued
! hero as an offset to European indebtedness
! here is coniectural With the government
| foreign TRADE statement showing balance
| In our favor in seven months OF 5000, 30 $50,
gold importations IN the TALL seem weii as
| sured Monetary conditions abroad are re-
| a
| London and the continent s. also showing
| relaxation. In New York stock market move
ments individual developments accounted for
the most notable features The situation a.
a whole reelected improved feeling Ell ly
ana business enlarged. optimism vas eX-
pressed by some interests and their efforts
out that the general situation did augur well
for bull movement, the perpexiles of the
Chinese situation, the political problem and
the question OF the crops being cited as Cd
stacles. Nevertheless a general ANA /. a
/ terial rise was affected in which the best
class OF railroad stocks figured. London
bought heavily he relief to its money MIR
\ ket and statistics showing decreased dlvilen1
payments by its railroads. causing a demdi
TOR dividend paying stocks here. NO 'nanst
IN local money rates occurred While IN riEf
was on, but later call rates touched IA N
anticipation OF an unfavorablo bank state
ment. Manipulation was factor W It
feoting wide movements in the mercur,dl 81 L
c!altes, At times the professional operators
experienced some difficulty IN keeping Sle-
cal STOCKS WltNln tTcumscrlDeu HuitsS, "
market becoming broader and outs lie orders
being executed Brooklyn Transit vas Jug
gled on predictions as TO its forihcomu an.
nual report. Sugar vibrated on .r4le And
dividend prospects and the coalers were al
ieoted by vague reports Respecting 'ho rise
in the railroads, more definite tac.5 ".re
cited, including improvements in the crop;
| and weekly earnings Steel ISSUES responded
| TO the trade news and the negotiations with
labor bodies. AS result Of these varied IN.
| fluences, prices rose from TO points and
! the general feeling became more conhdeut
! In the last half of the week realization by
the interests who were most active in the
rise and discussion of Saturdays bank stage-
ment produced a general decline. Enough
! of the weeks advance, however, in The aoh-
eral list retained to indicate many ma
ter.al gains.
Prices in the bond market conformed close
| ~ to the developments In stocks. Interest
was marked in middle grade issues.