The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1900-07-22
i'm THE STOCK MARKET.
Only st. Paul and Southern Pacific Made
Any Considerable Show Of Strength
SUGAR ROSE TWO POINTS At OPENING
The Eject of the CoEgcr Message ON
London Markets Is Not KNOWN,
They Having Had n Holiday.

New Iork, July 2l.-Thefe Wero le"
sporadic cases OF strength in the stock mar
ket but mono of the gains held at the high
est and some of them were more than wiped
or. In the railroad list Southern Pacihc iai
st. Paul we're the only stocks to make any
cons tersble show OF strength. Among the
sptciaities. Leather. the New York tractlons
aud Tennessee Coal were the features. Sugar
was lifted points at the opening, but II
was very obvious for the purpose Of AFFORD
ing market upon which to realize profits
StoCNg closed points below the high IoNeI
aId dominated the whole market. AS the
LouGoa exchange was not II Uession tod
anil lad adjourned yesterday before the r.
cept at washington VI Minister Conger s
message. the effect OF that news on the ENG
lsn market Is somewhat pioblematleai
French rentes rose 10 Centimes today. but
the skcpt,cal tone OF the Blush press a.
to the authenticity of the Conger MESSAGE
left doubt in the minds OF spectators as
to how 1t would anect the market Inc
figures of the bank statement are again rather
nYbttfYing and they DO not prove. Inc
receipts this week OF $3.50O,OO0 in gold, winch
Was shipped last week from tne Paclnc coast
accounts for the large increase III the re-
serve, The decline in the loun item inul-
Gates that German borrowers are still re-
lullng loans OF New YORK capital. Sterling
exchange advanced in Paris and Berlin I'd
was firm, though nominal here and call
money hardened II London. decreasing IN q
likelihood OF gold exports next week ms
much mooted question q how the large uddo
balance in our favor has been paid or met
is partly answered by the appearance today
of advertised offerings by New YORK aud
Chicago bond dealers anu bankers OF /
varied list OF foreign government secIrltt 3.
Including German. Russian. Swiss. Dut, n.
BelEaL swedish and Canadian securities OF
many denominations. The account closet
without important business.
IliCes OF stock have been raised another
notch as a result Of the weeks trading But
the character has nat materially changed
from its strictly profess. onal INES. opera
tons by speculative pools have mad some
TEMPORARY effect on the prices OF speclai
stocks end individual causes hav, alice e l
others There have been some slight 5ympa-
thetic responses in the neral list But
there has been manifest ain eutv ia mail
tanning prices at any new level ana the p r
sist"ut tendency has been to return to a
dXed level
The srpposttion that the military operations
in Chine would result in Increased demand
and transportation OF supplies as well as
troops has affected Pacific Mail and thu
uapscCntinental railroad lines The strength
OF iron and steel stocks has also b en- at
tributed to this influence, The recent OF
some orders for finished products ana 4
moro confident feeling regarding trad con-
diticns . the more likely cause Of the move
ntht in the latter group. But rotwitns'and-
lag these ann mating causes he business Of
the stock exchange has continued near 'le
l1w record and no sigu O. outside Interest
has been shown. 10 would be an error to
Gtulnu,e this persistent neglect OF Ia stock
harriet to any cause although tn increasing
era e.V CT the situation in Oh M and the
poss bilite5 a. further schiet growing out
Of that situation have more attention this
week than heretofore But 1t must b. borne
n mind that the stock market is never free
from the urSettlIng effects of "a residential
v7ac, any more than other lines Of business.
The nnal adjustment - tn basis Of the
u. -. a. =