The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1900-03-06
IN THE STOCK MARKET.
Manipulation by The Bears Caused Changes
in Sugar.
DIVIDEND INTERftRtD WITH THE PLANS
FIuctua lions Were Wild-Rniironhs
Showed Good Advanccs-Trnnsnc
fions in Sugar Were Large.

iSDecial TO Inc fost.)
New York March SIS. Mum, Son & Co
say OF stocks:
Stocks were generally firm on the close
industrials were easier. but the buying o.
railroad stocks was OF a good character Ihs
Sugar dividend on the common was reducee
TO ia. makir II per cent per annum'
reduction of one-half Of the old DIVIDEND o.
IL per cent. yet the change ha1 eompdrdt,LNsis
little effect. James X. heene and MS loilo"-
ing were supposed to be buying Sugar,
bull pool was understood 10 be buying Amer
can Tobacco. Good buying was noticed o.
the fractions especially Third Avenue ano
Brooklyn RAPID Transit, both OF wnlcl
showed only small net losses for the DAY
Hartman Interests were understood 70 "
buying BROOKLYN Rapid Transit Philadelpnia
interests bought PENNSYLVANIA ana Eept u
strong Chicago sold PEOPLES Gas. London
did very little but sold rather than bought
Foreign money markets were frntr aha I1 rae
here were "a to ~, closing at ~, Steriine
oAcharre declined II, The grand jury re-
turned Ave indictments for alleged sircula.
ton Of false minors about Brooklyn Rania
Transit There was good deal Detter puVlhe
OF railroad stocks than for sons time past
Total sales SIG 800 shares Bonds were IN
pretty good demand with the features lron
Mountain IS. Union Pacific 49, Reading is ana
st Louis Southwestern incomes on the de-
clnes, we advocate buying
New York. March 5.Attsntion in the stock
market continued to be largely diverted by
the fcverish and excited huctuation of a small
number OF stocks. Manipulation BY tn, bears
was largely respcrsible Tor ;he changes IN
the case of Sugar I he operations OF tho pro-
fessional traders were interrupted by the I'M
expected action Of the board in Geclarng a
quarterly dividend Of III per cent on the
common stock. This sudden tearing ASIDE OF
the veil of mystery rather nonplusses the
professional traders. who had counted on a
period OF uncertainty Wednesday. in which
to circulate vague rumors and to keep an
excited feeling in the stock With opportuni-
ties for profit BY UPS and doYns. The cut
ting in half Of the dividend vas about what
Wall street sentiment has settled upon. but
coming suddenly upon the han executed plans
of the speculative contingent it left them all
at sea The stock opened under pressure,
but after falling nearly 2 points encountered
very vigorous support and was rallied to
lOol3 by noon. The 700 share lot was taken
at that price when the news became known OF
the dividend action. En0tmous selling for
both aecor' IS Immediately followed aud the
prtce Immediately slumpeh by side brea6S,
with occasional sDasmodic rallies TO ~. Fluc-
tuatiops wero very wild bn the recovery to
par The food OF offerings prevented the
rise ABOVE lnat Dut on tne redcIloH 10 70
large buYing was in evidence again. which
rallied it TO s9la, where it closed at net
loss OF IL. In the half hour after midday
the transactions in this single stock reached
the enormous aggrfg gate Of g., 900 shares. Tdere
were sharp breaks In Tobacco and Tennessee
Coal at the same timl with the slump IN
Sugar. but the general market was not af-
fected. In fact. the stock market gave evil
dence of its relief over the settlement OF this
disturbing question bY smart rally many
OF the railroads rising to the best price Of
the day, The market was again unsettled at
the late d, alnFs by an attack on Steel, on
Steel Hoop Peoples Gas and Consolidated
Gas. driving them down to points, Third
Avenue. altar having tisen to $50. was forced
down to "a in the late dealings and Tennessee
Coal also Welded to pressure. 4 quotation Of
81 per cent was MADE on call money in the
course Of the late bear raid on stocks The
money market during the day showed no
signs of disturbance and there was no evil
dence of liquidation being forced by the call
ing OF loans, LondOa was not factor in the
market
Bonds were rather dull aud irregular. To-
tai sales par value, 81, 600.