The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1900-01-07
IN THE STOCK MARKET.
Confirmation Of Liquidation for Berlin Ac.
count Was Factor.
IRREGULAR MOVEMENT DURING THE WEEK
dttIons 'Crcntcd ny the Annual
January settlement.


suffered today from continuation Of the
liquidation for Berlin account. The yolums
OF this ceiling In New York was not Tor
nidshle but the sentimental tone OF 1t vas
decisive in driving prices downward through
out the list and discouraging buying of stocks
Further sharp declines in internationsls IN
Berlin preciuded the explanation OF money
stringency to account for the selling aud
made Il appear that the motive Was polltsa,.
The friction between Germany and Great
Britain over seizures of mall steamers Mas
not left alone as an explanation, the repor'ed
movements OF Russian troops toward the
frontiers OF Afghanistan arousing the pppre-
hension Of further embarrsssmouts for Great
Britain, A leading authority on the s;erling
exchange market recorded his opinion that
as long as the Transvaal war continued gold
would continue to go out from New York.
The board Of trades report Of Great B,italt's
foreign trade for December, showing a de-
crease of over S2s,000,00O in imports and an
increase of 100000 in imports, taken ia cen
nettion with the heavy selling .. securities in
New York for London account, goes to cN-
plain Londons continued contgol over the
international exchanges and AGILITY 90 draw
gold AT will, Tie hghtness O. the sutw aI d
movement OF cotton from tails country a'sc
keeps up the rate Of sterling eSrhaugc White
the selling Tor foreign account was beng
executed there WAS no disposition 10 Keep
prices above the London party and pressure
against some leading industlals. esnectetlv
Sugar. was added. With tue cessation OF Ine
bordon selling and with ,Ie az peGraneo NJ
the hank statement there was a seturn Of Goa.
hdence and recoveries were general, The la,t
that the surplus reserve was maintained and
even slightly Increased In face OF The gold
export movement and d loan expansion Of
sA1oi 400 afforded much encolrsgamont over
the domestic money situation,
The stock market moved IN m irregular
manner all week, The professional opcr9'prs
were clotiHe IN contracts 10 which they has
committed themselves with .he expectations
OF the week s eyents. Thus cue of he rules
In stock exchange speculation rs 70 tuy IN
anticipation OF the early ]apuar. demand
caused by released dividends aud interest
seeking Investment, Last weeks 6trengtn m
stocks was due largely 10 THIS ont,cilation
buying and the corolary OF tails buying would
be selling 10 take profits this week when the
dividend money began 10 be hisbtrst1 But
pTont by the buying, what Wall street a.
fecuonately regards as the outg'de pubic
is always another set aiming 20 mako prohts
out Of the trst Get themselves This weeks
events prove that very heavy Ines OF snurt
contracts were put out last week on tho
theory that the anticipatory i snaH1 for stocks
tend TO prove 70 have outrun the resi- demand
this week, and the attempts 10 break the
market and offer opportunity 10 cover At
proht This element had IN q err side ;he
agreement that the recovery in prices from
run the rebound after such disturb lucss ard
that a reaction was due II ON the selling OF
stocks bought in the panic. Tho short lsi-
ers argued also that the money market would
not show immediate relief after Janusry 1
and that the return OF dIsburs atnehts 10 the
market would be retarded such speculative
commitments must be taken into account 10
explain the apparent contractions in price
movements on news Developments. This was
attributed to Berlin account and was fully
explained. The Berlin money quotations did
not show condition OF stringency sufficient
TO force large liquidation and alarming rumors
OF political complications between Great
Britain and Germany were appreciated from
curties proved sufficient to absorb offerings
and sustain the level Of prices. The trunk
line group was notable In strength during the
most OF The week. Investment considerations
rule for the most part and buying orders OF
tnls Character come IN on any reaction and
serve as a support. On any considerable ad-
vance in prices they show falling off. The
high prices ruling throughout the industrial
and commercial world causes some question
ms in Wall street where the recent sharp
lesson from the consequences OF prices in iiv-
tion has been taken to heart The growth Of
the proportions OF operating expenses OF rail
roads by reason OF high priced material IN the
monthly returns published are impressive. The
rates now going into force on the column OF
railroad traffic will be keenly studied In ths
light Of complaints by shipping interests. The
well filled order books in the departments Of
stence OF continued prosperity, but the future
demonstrations Of the possibility OF prout-
able consumption OF high priced primary
products is awaited as an index Of the durd-
ton of the period OF prosperity.
The bond market has been less active than
stocks the. level OF prices offering fewer at.
fractions than in stocks