The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1900-08-28
i'm THE STOCK MARKET.
Sugar Absorbed Close 10 One-Quarter 0
the Days Dealings.
WEAKNESS OF SUGAR NOT EXPLAINED
Market by subtreasury seems
to We at nm End.
Especial to The Post.)

New York August 27.--S. Mum. Son
Co say: Stocks were lower; sales 05,5i6
shares. Exchange bGi4 lower. A tip is in
circulation that the long expected political
scare is 10 be inaugurated. Technical con-
ditlons, however. are generally believed 10
warrant higher prices. Peoples Gas rallied
ON rumored arrangement with Chicago poll.
| ticnns and the abandonment OF the proposed
new gas company.
of business shortly. 1t is said that the Brook
Ign Rapid Transit supplementary statement
1 VIII show floating debt of Slts0,VO Tho
pool in Sugar liquidated London was heaVy
on the unsatisfactory Chinese news Consols
declined H. Coalers were sold on strike talk.
Railroad rates generally being main
tanned Thirty roads for the third week of
| August increased their earnings 81 per cent
over last year. Buy good railroad stocks on
reactions.
New York. August 27-There was some
disposition to sell stocks today and the mar
ket showed a settling tendency throughout.
Sugar absorbed close to one-fourth of the
days total dealings and its marked weakness
doubtless had some sympathetic effect on the
rest of the list, Sentiment was affected also
by the apparent abandonment of any pool
operations for rise Unless the weakness OF
Sugar might be called such. there was no
urgency In the liquidation but there
absence of buying demand. The weakness
of Sugar found explanation in any news
| announcemet of the day The approach Of a
quarterly dividend period gives opportunity
| for usual manipulation of the stock, and
| the room traders iublantly trail on to any
movement in the speculation which promises
| any appreciable movement OF prices The
stock got down to within "a OF llS and closed
| only a fraction above that upon the demand
| from the shorts. Pressure against Peoples
| Gas and Brooklyn Transit seemed to be cou-
| pied with the movement against Sugar in the
! carly dealings and later American Tobacco
| was forced down, but these stocks except the
| last. showed a tendency to recover. Brooklyn
| Rapid Transit rising above Saturday level.
| Losses extended to a point or over, here and
| there in other stocks, and New Jersey Cen
| trail fell "a. London discounts hardened
! today and while money conditions in Berlin
! are for the moment easier, expert author
| ties affirm that very heavy obligations will
| have to be met in that market during the
| coming month and later. Available funds in
| New York continue apparently abundant. but
I the season for the interior movement of cur
| rency is fast approaching. The recurring
| relief which has been afforded to the New
! York money market by the subtreasury op-
| have about come to an end. About 50 900 900
| of the extended United States per cents
! still remain to be redeemed. The banks find
| difficulty in securing new per cent bonds to
replace these. and they are In consequence
| substituting lawful money at Washington and
| retiring the circulation secured by the called
| bonds, or are leaving them on deposit in
| snlte OF the fact that interest on them has
ceased. There remains about SC, 900 of
! circulation. which has been applied for by
| the banks but which has not been issued.
Beyond this the banks show no disposition
| to extend their circulation.
The bond market was dull and reactionary
Total sales par value, $7I0,0O0