The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1900-08-09
i'm THE STOCK MARKET.
The Movement Of Prices Was Trivial and
insignificant.
MARKET CLOSED PRACTICALLY lIFELESS
Pressure on London Money Market
Not Regarded rs ReassurinG-'""-
ditions CIassed as Enbarratseu'
Especial TO The POST ,

New York. August SIS. Mum, Son & Co
say:
stocks were dull and irregular. Sales only
l14i0y shares Bonds Arm. Sales Sseo'"'V
1t IS believed that the short interest tn inc
general list has been largely increased tne
last Few days. II is said that Missouri "a
cifc will earn 10 per cent on the stock thls
wear. Brooklyn Rapid Transit was sold on
the postponement of the annual statement
which was thought to be for stock market
effect. Ontario and Western was sold on de-
creased net earnings shipments of $5'oCooD
gold - London this week are eNpected on
tue subscription TO the New EnEuaD W." W.
loan, but this is moi expected to nave a pau
eUtci, as European money rates VIII ne eaatu'
Pool buying OF Rubber ceased and the STOCK
weakened. Chicago bought People Gas Snu
the grangers. London traded in only apput
1900 shares. Sugar shorts covered on me
scarcity Of the stock In tho loan crowd Non-
siderable long Atchlson preferred ana Ohlou
Pacific common came out, but tnere VIZ
also coed huying Tor investment bNcndu5 %
unchanged and dali Money lAHlig per cent,
Iclosing IA Mr.. Bryan's impending speech
or acceptance was used by the bears as an
argument for lower prices, but they met WIN
lnoor success
Buy good railroad socks on the reactions.
New York. August s-Tho stock market to-
day was duller than yesterday and the move
Iment Of prices was trivial and Insignificant
without an important exception. The room
traders sold stock in the morning, impelled
apparently by the reports of the heavy volume
OF gold to be exported Estimates were put
out that the shipments today and tomorrow
would amount up TO over SLOOV,mO. When u
was seen that the total would not exceed
81 3co,o00 the room shorts covered. The mar.
keJ closed practically hfeless near TO last
nights level. Yesterdays advancing leu
dency in United States Rubber was con
| sued and that stock was quite active and
fcyorish ranging over ~ and closing at a
MT gGir of y. There was the usual pro-
fesslonsl dealing in Sugar and Brooklyn RAPID
Transit the latter suffering from inc delay
IN the publication of the annual report which
had been promised AZ various times The
large American subscriptions to the new Brit
lsn cXcheqUer bonds continued to absorb u
large amount of discussion and surmise III
Wall street. as an evidence Of the large
resources OF capital available to the country
tbe incident was generally accepted as SUD
jcct Tor National congratulation, but as an
evidence Of the acute pressure to which the
London money market Is being subjected and
/ the possible results on the world At large OF
/ this condition, Vt was not regarded as reas-
surue. II is evident from the public crit-
/ Cism IN England of the large allotment made
ito the United States and the apologize tone
of the explanation to parliament by the chan
celloi OF the cXchequer that tle policy adopt
ed was forced ny money conditions which
might almost be classed as embarrassed.
The allotment 10 the United States OF half the
lean before subscriptions were received in
England ana the quick closing Of the loan
les IN quick contrast to the effort made to
discriminate in favor Of small subscribers
/ in TIN case of last April's khaki loan. The
result Of that policy has been that spcculaJ-
ors have REQUIRED to the money market TO
meet he periodical installments on the loan
and 10 carry their holdings with periodical
pressure in the market as result. There Is
presumptive evidence also OF some special
provision entered into with the leading Anglo
American houses In London TO which YVES
allotted half Of the issue to insure shipments
OF gold IN payment The relief thus afforded
to the London market will thus be more d.
rect, but in the last analysis the stringency
Of money in London insured an ultimate
movement of gold The real cause looming
big behind tho movement Of gold is the ex-
.pcndiure and preparations for war shown
by the efforts to replenish the National treas
ury chests. Tomorrow's shipment of gold
to Pari> shows that that confer is still in
competition with London for the prec1ola
metal and the plllng up OF reserves by the
Bank of France is now commonly accepted
as a preparation for o pending Russian loan
said TO amount to 5000. 900 600. The news OF
renewed attack on tho legations. the progress
OF hostlites involved in the march on Pekiu
and tho language Of the queens address IN
'proroeuing parliament all contributed to the
profound dulluess of speculation in secur-
tiles, not only in New York but IN ali the
great financial markets. Bonds were neg
lccted and irregular. Total sales pay value
$S15,00l