The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1900-01-10
IN THE STOCK MARKET.
Rumors from Europe Caused Decline Be-
fore the Close.
MONEY MARKETS WERE EASIER
solid Railroad Securities Good Prop
erty, but Worst Feature ~ SUE
nation In stocks and Bonds.
fsnecial 70 The Post

New York, January e--s. Mum, Son & Co.
say of stocks:
Stocks declined before the close on the I'M
favorable political rumors from Europe, lower
London quotations. some foreign selhng anu
also more or less American liquloatlon' Susal
was at one time higher on the theory tnae a
settlement of the trade war naa a ,;., 4, Ter
on Federal Steel declared Ia per cenl on
the common and Louisville and Nashviie
per cent, making II per cent stock LOT tne
year. Arbitrage brokers mere are snost VI
chesapeake and Ohio, Southern PACING, baltl ,
more and Ohio and Union PACING. Ac.ua'
demand sterling bills Of exchange ana oaples
dropped lsc. Money was i1sae per cent US os
ing at g. European money markets were
easter Bonds were dull and total stock salss
we're only 3si. 900 shares. No Important golu
exports to London are expected this week,
The worst feature Just now IS staena's,on l,e s5
stocks and bonds, Yet It Is not to be denien
that solid railroad securities are good prop
erty.
New York, January 9,-The stock market
was practically inert during the early part OF
the session today. the buying demand falling
to scarcely appreclabe proportions. The bear
traders watched this inviting field with long
ing eyes until the attraction became too strong
for them and they put out selling orders
through the greater part of the list IheS
succeeded in ehectng very marked declines
and bringing I'D certain amount of offerings
by uncoyerlng stop loss orders But the
volume of the selling was not important aud
the success Of the bears was due 70 the lst-
less attitude OF the public toward the stocks
and the iniisnositor Of insiders TO support
prices. There was no positive lncldent n tne
uays events for the bears 10 base their ops
rations on Their conclusion was negative
one es 10 the choices Of any ta"orahls cnanse
IN the present influences For the present u
IS obvious that capital has no inclination ~
move into stocks, and II is noticeable that
the quiet investment absorption which was a
feature Of the market during the last week
in December and which continued into the
first week in January has 10 all lntents ana
purposes ceased az the present level Of prices
series OF encouraging events has AFFORDED .
pretty good test OF speculative sentiment by
being totally ignored There have been new
entries to the list OF dividend paying stocks
tablished dividend payers. The money situa-
ton has ceased 10 cause anxiety owing to the
return how from domestic centers and the
cessation OF the drain OF the gubtreasury.
crisis Of yearly settlements and are steadily
working toward ease so that the drawing OF
gold from New York is now believed TO have
ceased at least for the time being. Far
reaching accomplishments toward harmonic
ing great railroad systems have been an
nounoed and rate wars have been patched up
Ane small euect produced ~ all these IN
portant developments Is cited by the bear
element as indicating small homes for any ad-
vance IN prices. There was a small opening
advance in stocks in opposition TO the heavl
ness in London and IN sympathy with strength
in sugar and Brooklyn Rapid Transit Tho
almost entire dlsA earance OF buying de-
msnd in spite Of very little offerings allowed
prices to gradually sag until the active sell
ing movement OF the last two hours, which
forced prices easily and rapidly downward
There were few feeble rallies, sufficient
TO cause some irregularity. bit the tone in the
main continued weak until the close The
dividends in Federal Steel common we're not
announced until near the close but the bears
counted on their exercising an unfavorahle
influence as not being up to the expectations.
The possibility of further reverses to Great
Britain IN South Africa and rumors of foreign
complications involving further emb4rrass-
mentr for Great Britain we're used with ef-
feet.
The bond market was dull and heavy nj
sympathy with stocks. Total sales par value,
81 ,9ij zoo.