The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1900-08-07
IN THE STOCK MARKET.
Stocks Yielded Whatever Gains Had Beef
Established.
some CONSIDERABLE LOSSES ARE SHOWN
On the Early Call There Was De-
cline, but Good Reaction Fol-
lowed Later On.

New York August 6.-The carly dealings
In the stock market showed survival OF
last weeks strength. but 1t gave wav
the face of the DAYS Developments and the
market yielded whatever gains had been
established. The final prices, measured in
comparison with the high level OF the dsy
showed some considerable Losses and are
the general rule The early movement was
especially notable on the Pacific. Northern
Pacific taking the lead on he theory that
its price was not commensurate with the
level OF Union Pacific ana hllssour racine
CLion Pacific also continued firm. keaulnE
hrst preferred was taken IA large amouL's
on the suDpUsition that ta3 dividend ia
would be increased at today's market Inc
stock fell back IL when the declaration OF
thc SAME rate oil diWdt nd as the last was
announced. sugar weakened on tue report
OF the Shading of several grades oil SUI
sugar which was taken TO inlicate re-
nVWai CT competition in The trade Colofauo
fuel was conspicuous. The preferred stock
was bld up from 20 to ~. at which price
100 shares changed hands. The bid prce
WIS then further advanced 10 lZiiA without
bringing out stock This stock was cuInula-
tive and is entitled to ~ per cent IN back
dividends. The movement S suppos. d 70
fOreshadow the payment of an installment
OF the arrearage OF the dividends
The steel group weakened later IN inc day.
The accounts from PittsburG of ext nsions
by the Carnegie company LOOKING TO conn =
t,tion with some of the new combinaions
affected the group. and especially Federal
Steel and steel and Wire. The more serl-
Gus phase developed IN the Chinese tda-
ton had some effect on the market, aithoueh
the London exchange was clio ed and the
influence OF news there could not b. meas
urtd Preparations tor exports OF gold on
Wednesday was reported though no definite
announcement was made of the engagements.
Sterling exchange rose an additional fraction
but still falls short shade OF what has
been regarded as the export pO4nr TO Lon
don. The subscriptions in New York to the
new issue OF British excheQuer bonds are
regarded as the immediate cause Of the out
ward movement. II is evident that these
subscriptions would not cessarilv demand
an outward movement Of gold, as the coun-
try's very large credits abroad would be am
need Of the London money market for gold
may have od to some special proyis ons
that the underwriting syndicate should pro
vide the metal I'm navment OF the bonds.
There is a large demand for the bonds as
matter of course in view of The fact tnat
American RAILROAD bonds Of high grad are
finding their way home nv avery steamer,
and foreign railroads and industrial securi-
ties are not in favor with American capital
with the declining tendency of earnings
abroad Opinion here as to the effect on
the money market has crvsalized INFO a
conviction that no severe sra need result,
The feasibility Of anv large speculative move
ment In view Of the coming demands on the
money market is much doubted
The bond market continued at a very low
ebb Of activity and the movement OF prices
was slight Total sales mar value. SSo0Oo