The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1900-04-24
i'm THE STOCK MARKET.
Saturdays Break in Prices Brought liehl
Selling Orders,
GUT THERE WERE ALSO BUYING ORDERS
Feature Of the Market was the
Quick Rise Of Western New YORK
aud PENNSYLVANIA Bonds.
tsneclsl TO The postl

New York ApriI Pas. Mum. Son Co.
say OF stocks: 1ndustrlals broke and recov-
cred. Railroad stocks declined sharply. Ster-
ling exchange was again higher stock sales
720000: bonds 100000 a cut OF $50 ton
in nails. wire fencing and barbed wire and
heavy selling. supposed to be for Chicago
account. caused lower prices for steel stocks
and other ndustrials sympathized. Federal
Steel showed more stsadiness than the other
steel stocks Railroad stocks, too. were
lower on heavy selling partly for European
account The selling OF Missouri Pacific was
especially heavy. Louisville and Nashville
was depressed, partly by difficulty with Chat
tanooga minority stockholders. Norfolk and
Western issues and Baltimore and Ohio com
mon were conspcuously weak. The trunk
lines for time received good support, caus-
ing rallies, and The grang RS showed mors
steadiness than other railroad stocks New
York was said to be selling In London. Fed
eral steel is said TO have been selling on
early Information Of the closing OF the rod
mills at Joliet. Reading and Jersey Central.
It is said are to be acquired by the Penn
sylvanla and New York Central large
Broad street operator is supposed TO have
sold Atchison. 81. Paul Sugar, Baltimore ana
Ohio, PENNSYLVANIA aud Brooklyn Rapid
Transit London sold 10000 to oG,Ooo snares
OF the general International list with tho eN-
ception Of Norfolk and Western and South
crn Pacific. of which Il was a moderate buyer
can stocks in London is only temporary
Mr. Hartman SAYS PROSPECTS at the west are
very hopeful, and that unless some unfore,
seen calamity intervenes the railroads VIII
do as large a business in 1900 as they did in
1892 Sterling exchange advanced &c
New York. April %. Saturdays break in
prices OF stocks brought light selling orders
into the market and they were in evidence
all through the list at the opening But there
were also buying orders on a large scale to
take the offered stock. Part of these were
evidently placed in the market by friends
OF different stocks for tho purpose Of sup
porting them. The expectation was quite
general that the market would open with
something like a crash in values but, as
usual, overeXpectation defeated itself and
there were enough buyers waiting to take
advantage of the crash to steady the market
almost Immediately. The professional Wall
street perceived the absence of pressure OF
long stocks in the steel industrial, with
cynical lack of surprise. Evidently the oD-
portunity has been seized to dispose OF long
stock at the higher level OF prices and the
shorts were the most eager operators in the
general endeavors to cover This pretty clear
ly indicated a pause IN the most aggressive
.lacucs OF the bear campaign. collateral
object Of that campaign rs generally believed
10 be to take on various stocks at the lower
level of prices The pressure OF liquidation
continued heavy during the first hour and d
second drive was made by the bears a. the
end OF that time But the steady absorption
of offerings begot a very cautious mood
among the professionals and u decidedly
quieter tone ensued in the market Some Of
the bull pools which have recently been ac-
tive, notably that IN Missouri pacluc, showed
q disposition TO resume operations The I'M
dertone of The market was firm during the
latter part of the day, but closing was strong
and rather active, with the steel lndustrials
net gain, amounting to 23s in tho case OF
Federal Steel and Pa in Steel and Wire Wau
street stli keeps an anxious eye on the
situation in the iron and steel trade. but is
inclined 10 go back TO official uttersnces in
forming its opinions. Last years nigh prices
are known TO have been made by belated
bidders who had to buy at any price to MI
contracts, and the dealings at the high level
were Tor only small part OF the total
products. Gold exports are looked to without
alarm on account Of the ease of the money
market Today's small shipment to Bucnos
Ayles was without influence
The feature of the bond market was the
quick rise to SOS of Western New York and
PENNSYLVANIA general mortgage OF three
tourths on the arrangement perfected win
the PENNSYLVANIA railroad Otherwise prices
yielded in sympathy with stocks. Total sales
par value $3.50 900.