The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1900-05-25

New York, May A.-Interest was further
concentrated in the stock market this morn
ing and the market had fallen near the point
OF stagnation when premonitory symptoms be.
gan to appear Of distress on the part OF some
speculative interests. The market sold OFT
sharply on a larger volume OF dealings than
for some time past This was explained soon
afternoon by the announcement of the sus-
pension OF Price. Mccormick & Co. which
was made known first on the cotton exchange
ana soon afterwards from the rostrum OF The
STOCK exchange, According to the rule OF the
EXCHANGE TIT suspension was followed by
tue Closing out OF the outstanding contracts
OF the suspended nrm on the moor. The rest
OF the CAV was practically devoted TO TINS
selNhg ana buying under the rule. other oper-
atlVAs uelng almost entirely gwen over. The
ueainss Tor the firms account footed up
TO $500 shares before the close A heavy
outstanding short account was in evidence
IL the settlement ana the movement or
plces resulting was exceedingly confused aud
lrreeu4r In many stocks, tor which there
was llttle market the forced sale caused some
sharp declines. ana the active railroad list
was at one time from l TO points off from
the pest. The Steel stocks were also mucn
ahected. There were decided recoveres from
tue lowest prices, and the closing, while
almost stagnant showed the net losses In the
fa.lroaus generally reduced to fractions
Inc failure was primarily due to commit
mehts in cotton ana the violent decline In
thdt staple for the last Two days was the
cause CT the hrm's difficulties,
SUGAR continued the most active stock IN
the market and moved In a feyer.sh and err
rate manner all day. Its net decline was
"a and Its loss on the day is rs points
Tho movement of the stock was NOT accom-
PANIED by any news and seemed purely
speculative in character. The Sleel stocks
were depressed by the rather discouraglng
view expressed bv the Iron Age Of PROSPECTS
~ the trade. that authority advising sharp
cui taiiheht or production, Rumors were c.r-
culated during the day that he Illinois Steel
company plat at Joliet, H., was to be
closed down. The prospect thus offered of
possible reduction on puying power in the
community and Of probable strikes and labor
troubles caused rather acute uneasiness A
brtak Ia lake rates on grain renewed fears
though the earnings reported showed good
lA1ieases. St. Paul being included
me reduction in the Bank of England rate
or discount was expected and produced little
erect either in the London stock market or
mere. Rates for money continue very easy
ana the passage today of checks for S35 0O0, 900
through the clearing house for the Third Ave
nue. railroad bond payment caused not even
a ripple, The proceeds are supposed to have
been promptly redistributed among the banks
N view OF the foreign exchange situation
ana outward movement OF gold much in
terest attaches to the question whether Liv-
erpool will buy cotton heavily after today's
break while the Liverpool exchange was
closed owing to a holiday
a feature OF the day was a sale of Standard
Oh in the outside market at s66, compared
win 900 Yesterday. which was then the high
est price on record
The bond market was exceedingly dull and
changes, were mixed Total sales. par value.