The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1900-01-24
IN THE STOCK MARKET.
Barren Of Well Defined Issues Bearing on
Prices
THE UNDERGONE IS NO LONGER FIRM.
Foreign selling wns of Considerable
Reconsideration Coused By
Thi. and Declines Made.
THE UNDERGONE is no LONGER FIRM.


New York January 2S.--S. Mum, son "
/ Co say Of stocks:
! The absence Of stirring news from South
Africa encouraged tbs bears and induced
long selling. London was lower consols de-
clined lie and London sold here, though tho
| arbitraCe business did not cut much figure In
the speculation. London discount rates de-
clined "a and a reduction In the bank OF
England rate Ia expected on THURSDAY. Der.
| lin discounts were u higher. however and
actual sterling rates were about "a hlgner. Az
one time the traction and gas stocks displayed
noteworthy strength. but later they receded
on liquidation and bear attacks, though con-
soidsted gas made net advance OF > pr
cent The so-caled consolidated exchange
cliuus sold sugar and the fractions standard
oil interests bought the fractions The gen
eral list closed fractionally lower sales,
closing at g. Government bonds were y to
- lower Railroads less active. but gener-
ally strong, Sales 5000, 500 Buy good solid
railroad stocks and bonds.
| New York January 23-The stock market
was as barren of any well defined issues
bearing on prices of securities as for sew
eral days past Nevertheless there was a
general and quito pronounced collapse from
the frmness which has been characteristic
to the undertone for some Tins past. The
reaction LOOK It's lnlNldllNt lEuul tue iIuIOpVdu
bourses The foreign selling here was in
very considerable volume and was accompa-
MED by rumors Of new disasters to the Brit
ish military forces in South Africa The
denial of these reports failed to check the
reactionary tendency The decline caused the
taking of profits by spectators who have
held through several days OF rising prices
aud were weary Of waiting fol- further ad
vance. The halt in the advancing tendency
also encouraged the putting out of short lines
by the professional bears, Even allowing
Tor all of these professional movements the
volume Of the dealings on the decline was
Of rather impressive PROPORTIONS, and the
losses sustained especially by the leading
stocks are quite severe. Only few OF them
escaped Tor less than | point. and in others
IL extends TO nearly points In some Of
the prominent speculative specialties losses
ara even greater. Sugar, Brooklyn Transit,
Tobacco. United States Leather Peoples Gas
aud some Of the iron and steel stocks were
notable sufferers Consolidated Gas. Metro
polttan Street Railway Third Avenue and
Manhattan all showed early strength, but all
Welded to the earlier weakness gains being
I entirely wiped out There came a halt to
the decline early in the afternoon with de-
mund from the shorts to cover but The SELL
ing was renewed before the close. which
was al tho lowest OF the day. The board
room traders expect 10 get their stocks back
in London In tn morning at a profit There
was no uuotable change in money rates today
but the tone OF the market was trhe hrmer
and sterling exchange also rallied fraction
The addition 10 the New Nork banks reserves
VAS short lived and shows some falling OIL
from the recent increases.
Bonds were somewhat frmor, owing TO
tho lessentd accumulation OF uuoccupied
funds. Total sales. par value. so909 600
Following arc the quotations on stocks In
New York as received by Csrslll & Ricbad-