The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1900-02-04
in THE STOCK MARKET.
Incubus Resting on Change Lifted During
the Week.
SATURDAYS TRANSACTIONS WERE HEAVY
Level Of Prices Established Early,
but Tendency to Realize Caused
Downward Movement.

Co, say OF stocks:
generally higher opening was followed
BY decline London was 6rmer, but foreign
crs sold. Surplus reserves Increased $685.
30p. London sold about 10000 shares. mostly
Baltimore and Ohio. Southern Pacinc and
bought the railway list Third Avenue was
again weak, affecting the tranctions generally
II Is expected that at the coming meeting
of tbs National Steel company dividend Of
or per cent will be declared on the COM
uinn The earnings OF the company, u Is said,
compare favorably With those Of Federal steer
and steel and Wire. Consols advanced y per
cent Consolidated Gas was strong on rumcrs
81 settlement OF the gas war. Bonds were
arm Prominent operators who have been
hullinE the industrials OF late are turning to
the railway group, and we advise purchases OF
good solid railway stocks.
New York. February s--speculatlon in to-
days short session Of the market was swayed
by long ventures. encouraged by the state
neut Of st. Paul railroad for the fourth week
o'sanesry and the disposition TO take pfcits.
Swell Of prices had been early established
witch Indicated a handsome rise on securities
Purchased earlier In the week The tendency
to re&lizo was very manifest after the publl-
cation OF an exceptionally favorable bank
statement Although the downward move
ment assumed some force near the end owing
10 the decline OF 3% points, ST. Paul and
minor railroads wero fairly steady. Sugars
plunge downward was ascrbcd to gossip con
cernng the trade war transactions were
unusually heavy for short day. and the
number OF stocks dealt in almost equaled that
OF yesterday.
Whatever may have been the incubus that
rested the stock market during the last
few weeks, 1t quite eiectualy lifted during
tho present week. Dealings have averaged
nearly 100000 shares OF stock day and one
one day ran up TO 10000 shares The earlier
refreshNe influence was not the military
situation In South Africa Tor tho symptoms
OF Indifference to that. when were indicat-
ed last week, were emphasized Monday when
tho LcLdon stock market WAS In semi-of-
hcial panic aud the local market, though
stli dull near TO stagnation, was distinctly
strong. AS Tor the money market outlook, tho
conditions have been no oasicr than during
the recent period OF neglect and tho course
az the foreign exchange market and Of opera
tons with tho suhtreasury have given init.
nations OF A renewed drain on the New York
mercy supply, But whatever the cause of the
previous dullness the most influential factor
IN arousing the market from It's lethurgy
was rnqueationably tho action at the annual
meetlng OF tho American Steel and Wire
company The setting aside of a dividend
on me common stock at the rate Of Z per cent
TO be paid quarterly had been foretold in soine
az me numerous rumors that had been dis
aebinated IN vain attempts to awake speeu-
ltllNe interest, The amount and nature Of
assets, OF obligations, OF earnings, OF ex-
neh6cH were all items Of influence The re-
hc' I'd was correspondngly resilient owing TO
the extreme depression to which the stncks
had been subjected. legal obstacle devel-
oped last year 10 tho payment OF tho dlyi-
Gcnd on common stock OF corporations before
me full years dividend on the preferred had
been dishursed, but the non forthcomlng> Of
int dividend had nevertheless excited aus.
ricion and distrust The persistence OF these
sentiments made the hears very bold ana
wher Steel and Wire shot inward erl,, Ia
tac week and other metal stocks followed In
sympathy. heavy short interest was caught
7 ne bears endeaVored 10 recoup their lossea
NY some reckless punenE on the bull aide
NJ market w consequence was ioverish and
tVen ana inclined to become very irregular
toNaTd tue latter part OF the week but
larry large demand for the metal stocks from
largely Western sources existed 10 tho cnd
q the week "N
Prices have been subjected to manipulatlon
~ operators long on stock with the object In
view OF creating outside buying The ease
Win which prices advanced show how nearly
Cenuued the market had become OF a nonfing
supply OF Btocks The higher level of nrircg.
Drought Increased holdings showing thar
Ne1e.uul'pW volume OF stocks is oyerhanE-
Nsb tHo market Raitoad stocks hive rnrvSd
Upward, but not as widely rs the induetrials
ana mo volume Of dealings in them ms brrn
hucn smaller. Tho week S event In thp s,ncE
n9lhet may be said 10 mark tho condolences
n syni .ne WI street standpoint on the pros
eetols conditions of the country. Even the
south African war has come 10 be- looked unnn
~ making demand for this country's prodticta
anu Tears of heavy liquidation OF American
securities by foreign holders IN the event of
t ir, nintary reYerses are no longer an
Bonds have been absorbed during tho weel
movements. :" P''Ns