The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1900-07-24
IN THE STOCK MARKET.
There Was a Small Show Of Strength ID
Some Special Stocks.
THE MAJORITY ONLY MODERATELY ACTIVE
small Net Gnins Were the Rule, IN
sympathy with the strength In
Special stocks.
fsnncial TO The Post J

say:
Stocks were higher and more active. Shorts
cover in the general list Industrials strong
features. Total sales 45s, s3s shares Bonds
firm Features were Baltimore and Ohio ana
MeAican Central incomes Posted sterling q
cent higher Money 1NG1h per cent closing
IN. Consols advanced r. Continental
bourses hrm Several bank presidents pre-
dict higher money. On Reading first Ia
per cent expected for half year. Same pool
which was active in the buying OF sugar
last week bought Leather today. Boston ana
lower Wall street bought Sugar. Chicago
bought grangers There was good buying
of Southern Pacific and the Pacitcs generally.
Corn reads were bought on good crop pros
poets. In the opinion OF many tner' Is
little probability OF full restoration oil the
Sugar dividend until the presidential cam.
paign is over. There was good buying OF
the steel stocks on improved trade prospects;
Colo shipm nts this week are not eXpectel
to exceed $1,000 600 Insiders bought Metro
potan and Manhattan. Chinese bonds ad-
vanced to ( points. Atchson was strong
on good crop prospects along Its lines brook-
Ign Rapid Transit advanced on covering, duN
to n favorable decision In the Decent fare
case. Morgan int rests We're reported 10 ne
buying Union Pacific. Chicago bought Peo'
pies Gas freely on expectations Of a solu-
tion Of the difficulty with the municipality.
Boston bought Leather common. Anaconda
was firmer on improved trade outlook. van
derbit interests bought Big Four Klondyke
gold output for the year estimated at $5o,Voo,-
00O Ontario and Western was bought OH
expectations OF some dividend arrangement
In the fall.
/ Buy railroad stocks on good reactions.
New York. July 1s.--The influential inter
ests which took the leadership in the stock
market continued their efforts today to make
rising market. with the object of inviting
public buying. They were not discouraged
by the failure Of outside interest to develop
on account OF last weeks advance and they
resumed their bullish manipulation from the
opening this morning. There was not much
difficulty apparent in advancing prices, or il
any obstruction appeared in the shape OF
offerings in larger volume than could be
absorbed, the leaders deity turned their at
tontion to stocks, whose upward course was
easier. As the long interest has not yet
attained larg, proportions and as there still
remains d considerable short interest whose
position grows daily more precaIious the
| technical conditions favored the advance.
There was some accession Of outside buying
as we'll. The appearance OF TINS buying en-
couraEed professional bulls to red0ubleu ef-
forts and the days market, as a result,
gave an appearance OF greater activity and
MOI, strength than on any day last week.
been checked ID It's first redctionary ten
Gency, and was found to move upward easily
on moderate buying. This stock continued to
have marked influence on the whole market
and It's reaction late in the day precpltaLed
n NOV ement TO take profits elsewhere so
that the closing was easy at considerable To-
sessions from the best. The distinguishing
feature of the market was its uncvenn sss,
as might be expected from its prot ssiOnal
character. A few stocks were active and
strong, larger number showed sharp ad-
van,es after lying dormant for some time,
SO that very meager transactions were SUI
hcient to move them. But the majority of
the list was only moderately active and
continued very sluggish. Small net gains
were the rule in sympathy with the str myth
in special stocks. There was a disposition
TO pick some leading stock from each group
OF securities in which the interests condl-
tons We're allied and advance the leaders
for effect on that particular group, thus per-
meating pretty much the whole market with
show Of strength.
During the course of the day other stocks
IN the several groups responded more or
less to this later maneuver, thus broadening
the effect of the advances. Thus rennes-
see Coal led the steel stocks with eX-
group responded to the extent Of a point
or over. Metropolitan Street Railway rose
~ carly in the day, but Brooklyn Rapid
Transit took the leadership of the group
with rise of 3i2 on the favorable verdict
in the l0-cent fare cases. The grangers St
Paul and Burlington rose about points
each. Early advances in Leather, People S
Gas and Southern Pacific proved ahortivp.
and these stocks were RELOCATED to the back
ground. Such recent favortes as Baltimore
and Ohio and Union Pacific were notably
neglected and were inclined to be heavy.
The hopefulness of the bulls was predicated
on the more encouraging feeling regarding
China, which was reflected from abroad on
the confidence that the money market is as.
sured OF a considerable period of ease and
that period Of quiet in political affairs is
likely to intervene before the campaign takes
on its more active phase. The absence of
any engagements OF gold for export today
also helped the market as did the favorable
crop news. The bond market continued dull
par value 81, 2S6 600.