The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1900-01-04
i'm THE STOCK MARKET.
Both the SpeclaItIes and the Railroads
Closed al LOSSES.
UNABLE TO RESIST REACTION Factors
In Case of Further British Reverses
Traders in the Security Market
VIII Take Profits
JNABLH TO RESIST REACTION FACTORS
fsnecinl to The Post. )

Especial to The Post.l
New York, January as. Mum. Son & Co.
say of stocks:
Stocks dropped under American and Eu-
Korean selling. London was easier but rallied
later 1t sold over 5000 shares here. Con-
solidated Gas went up s points on the ac,
QUESTION of local electric light plant and
though railroad stocks declined there was
buying of good character OF Pennsylvania
New York Central and Baltimore and ONO.
Money was to per cent, closing at ana
is no longer dsquietng feature. Only
$4,000 OF gold was engaged for export to-
day. Two or three millions may 60 out Satur-
| dav. Vanderbilt interests were buying New
| York Central London weakened on German
| Selling. due TO false reports that the Englsh
| had seized Germans at Delagoa bay Raii-
| road bonds were steady. Leading features
we're Atchlson and Baltimore and Ohio issues
Rreenbacks and Western B debentures NORTH
ern Pacific As, Southern Pacific As, Union
Pacific As and Wabash B. debentures, Total
sales OF stocks $4,000. We think the situation
| justfos purchases on the decline.
| New York, January s.-The stock market
was unable today to resist the factors work
ing toward reaction and closed at losses both
for specialtes and in the railroads, running
from I to points. Depression was manifest
from the opening in sympathy with the ear
lier declines in the London arket but the
downward tendency was resisted. number
Of the industrial stocks advanced in some
what excited manner in the first hour and
induced a hardening of prices throughout
the list. Consolidated Gas jumped points on
the reports of its absorption OF an electric
| lighting company and incidental advantages
in the local gas war. American Tobacco
rose an extreme 5 points and the CONT
mental Tobaccos were strong Sugar showed
! a disposition to continue its advance and
some of the iron and steel stocks main
tained yesterdays show of strength in the
group. Later in the day there was vigor-
GUS upward movement in New York Central
with slight sympathetic response in other
Vanderbilt stocks. The isolated points OF
strength in the market however, proved en-
/ urely insufficient TO sustain prices in the
] face of the constant dribbling of sales Tor
| foreign account and those for local account
which were sentimentaly induerced by the
weakness abroad A rumor was circulated
| that Ladysmth had capitulateu to the Beers
The effect was significant OF what may be
! expected from the security market in case
OF further reverses 10 the British for traders
VINO were long of stocks fastened to take
their profits on the possibility involved The
later news in the day made il clear that the
real source of the days weakness was Ber-
I'm. selling from that center In London and
of American securities in New York was on
a large scale. It was based on the weekly
return of the German Imperial bank, which
showed a large loss, $4,000 900 in cash a loan
expansion in face of this drain of 600
ard an addition of notes in circulation Of
( upwards Of $4,000 was an exhibt OF press
ire for credits in Germany which served
rather to startle the financial world. The
effect was not apparent, however, in the Bei =
lin discount market and sterling exchange
advanced at Berlin IN spite of further de-
exchange rose sharp fraction. These stocks
which were strong. did not entirely lose
their gains Of Yesterday, bur in the case OF
aud a number OF Southern stocks, large in
roads were made on values. Conditions in
the lcea money market were undsturned.
Inc bond market shovel i yielding ten
dency in sympathy with stocks.
4 Total sales, par value $l,915,GO0.