The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1900-11-14
IN THE STOCK MARKET.
4 Relapse In Prices Was Vigorously Con-
tested by POxsriul Interests
PRICES on DOWN GRADE At THE CLOSE
Large List of Industrial stocks
Was Prominent Among the Sc
curitics that Declined.

New Yors November i5.--Today's relapse
IL prices was quite vigorously contested oy
some pexerful interests stu long OF stock.
znich had Fixed on certainly higher price
lersi a. desirable 20 hold old holdings by
speculative professionals. But the reaction
was to- closely in accord with the skilled
cpia,ou and observation TO be opposed with
heaTty conviction The real question this
morning Eas 10; whether Or uoi prices would
1ecliaa. bot hOw FAR TIRE decline would ex-
tend. TIE question still remained unde-
ciced whea tae market closed, with speer-
latlTs liquidation stil in force and prices on
the tov grade, except Sberc professional
roora shorts WPrr taking hasty profits by
GOVERNS thstF contracts as result OF the
days trading prices N number Of promi-
nent iudustFisls including sugar
Tennessee Coal. steel and wiGe and peo-
Pies Gae suffered declines 0; from TO !
Points and Metropolitan street Railway lost
heiNc-r -l5 poilts ard 10 the railroad list
no; ie7 losses reached between / and :
points
Tne more substantial commission houses
70 TIE street have been advising their GUS
toner for several days past 10 take their
prorts and 20 buy no more stock for the
present Professional operators except some
powerful speculative pools. have sod out on
very extensive scale aud taken their prof
It's Up 70 this time, since the election,
buyers outside The street have been IN
heedfui OF their brokers advice and have
continued 70 buy stOcT without much dis
Grim nation. Yesterdays late yielding OF
pig 1aI me inevitable eAec;. ~llch no
amount O.. advice could have. or 1.scoura gi1g
some ~ me outside demand. The eX;eu; 20
winch ne advance has gone made he mar
sst, a. a matter o. course. iophsayy ~, nhef
as 30 was with many speculative accounts on
light margins and backed by weak ming
holders. Professional bear SPECTATORS who
have te+a sertiy looking TOT the moment NJ
reaction ever since last Wednesday found
that III" free selling today was not erectuslly
absorbed Their efforts we're redouoied and
~he1 prices Sagsn 70 make wide deciires
htcp-loss orders we're disiodgsd and the fan
The hears rere IN reckless mood ana
were quiek to take profits, causing frequent
rallies a. they covered thsir SHORT con
tracts Waffle some outside demand con-
suTet ~ force
The resumption Of selling Tor Louaon ac-
count dlssipated tie hope u an enormous
sn1rt demand tor mat account to De COW
cred II London Is still! snort IN the New
York market it IS contracts due az some ~
ture settlement and the continued selling
from there indicates al unchanged convic-
Won ma a reaction in prices viii intervene
ne expectation OF another war loan to ne
hoa;ed 4 London depressed mat market ana
vas direct influence in New YORK az we'll
Il emphasized the apprehension hitherto ieit
OF further German government issue also
II is not 10 b supposed That with tna
huge Indebtedness OF the foreign money mar
kets 70 the United States, the fore On gov
ernments can hope TO successfully noat their
,eans without assistance from American
money markets, ard experts believe tina; an
outward movement Of gold from New YORK
would probably be necessary. Tne money
winch Is used Tor speculative purposes in
the stock market is money tor which no
more substantial demand exists and II IL
lnvarianly the rule that when any sdvan-
tageous opportunity IS offered for nxed in
VestHen' OF capital speculative GnrroSers
are called upon 10 repay their cherits. Win
This prospect IN the future call money IN
New YORK advanced to per cent today
no-EliA 'anG ng the considerable specula-
i've liquidation An active demand sprang
up Tor short time loans waich FORCED the
rare up tor present sixty and ninety day
money 70 per cent. The tone OF the
money market was IN tact a decisive m
nuenct on the days speculs ton ana It was
not without significance tnat sterling ex-
change was nrm IN spite Of tue higher
money rate.
Business IN bonds was on large scals
ana therc was free pront-taking In some o.
( the speculative issues, while others advanced
strongly Total sales par value, 81, 10000.