The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1900-05-22

| New York May 21--The stock market was
soft from the outset today and yielded steadl-
| ly to the assaults of the bears. There was
practically no buying demand of any import
ahoe nerceptble and prices lost ground pref
ty steadily even on a light volume Of trad
ing. Later in the afternoon Third avenue
mad a sudden advance of points and
caused some uneasness among the room
shorts who bought moderately to cover. But
the rally was insignificant outside of Metro
poltan, Brooklyn Transit, Sugar and To-
bacco The sudden upward movement in
Third Avenue was unexplained, except by
last weeks move to secure the discharge of
the receiver and the progress being made IN
the betterment of the system. The long
standing short interest in the stock was
aimed at by the old advance. The heaviness
OF the market during the week reflected the
keen disappointment over the failure of last
weeks encouraging developments to attract
any outside demand II was soon evident
That London especially had been looked TO
hopefully to take up American stocks and
the early news from that quarter showing
IecNhes TOT the international stocks was a
disappointment. The sales for London ac-
count were not in large volume but their
erect was decisive and soon overrane the
strength in the few specaties which at
1VAAP'0u " lUdhe ueduWay against the tide.
II was clear mat Spectators who bought
stocks late last week counted upon London
taxing them on their hands after that mar
Ket mad subsidized from its hysterlcal outburst
over the relief OF Mafeking But London
sharet with the continental bOurses in a
MOOD OF depression. International houses in
wan street attributed this to dsappointment
UT I the denial OF the report that President
hfuger had made humble advances for peace
ana Berlin advices reported fear of an out
pTeak between Russia and Japan In the New
o!k market the. CHANGERS and the Pactflcs
were the hrst to show acute signs of weak
ness, but ultimately practically all of tbe
aciIle railroad stocks fell from l to points
below Saturdays close
Sugar rose at the opening on the an,ourco-
ment OF advances in the prices of refined
nut II was sold in such volume and with such
confidence that 1t fell into weakness with the I
rest OF the market The weakness in the cot
ton markets was not without effect in wall /
~, IN me money market the supply of mercan-
tile PAPER is reported TO he decreasing owing /
10 the setback to trade in various lines The /
sto"ihg ease OF money is attributed TO the Z
same cause Bear operators profess uneasI
ness over the likelihood that freight rstes
VII not hold in face of the decreasing trafTic
Oh r3llroads The grain traffic of the West L
ern lines has fallen to the lowest of the year 4
and Is still below last years level west.
pound merchandise traffic Is reported IN he
suniclent to maintain earnings as vet abova
lasI year. nut current earnings in spite of
above last year '''s"uS
Bonds were much better sustained relatively
nan STOCKS though there were weak spots in
Tue nst' Inc accumulation of idle funds seet !
ing Investment is making some slight i'm |,
preston on the bond market TotsI .aia- !
Far value. s2,O6O,000. '1''s'