The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1900-02-14
IN The STOCK MARKET.
The Professional Operators We're Buyers
at the Opening.
NO RENEWAL OF THE OUTSIDE DEMAND
In the Traction Group Demand from
Shorts Was Hcnvy-Incrcnscd
Earnings by the Railroads.
NO RENEWAL or THE OUTSIDE DEMANl
fspeelnl TO Tho postl


New York. February 1s-s. Mum. Son 4
Co say OF stocks: Stocks ran up sharply
though the trading was not very brisk. The
total sales of stocks being only 37500D shares
Of bonds the sales were 100000 London
was higher but sold about luOJO shares o'
balance here. Banking interests both mere
aud In Philadelphia bought PennsyiNania,
Steel stocks wera conspicuously strong ah9
were also active especially Tennessee Coal
and Iron. Shorts were squeezed in both mo
uactiors and the steel stocks. Thev sur
fered In tho fractions mainly because oil
report that the Third Avenue agreement had
Teen signed. Flower brokers bought steer
stocks Metropolitan people were said TO ue
buying Third avenue WASHINGTON ana boS,
ton interests bought grangcrs. and Morgan
interests bought Baltimore aud Onto ana Mex
lean Central income bonds The Vand'rbnt
people were reported to be buying Penhsyl-
yana and Standard Oil Interests Leather
common. Large room opera, ors bougt- SUI
gar. American Tobacco moved up on ihti-
nations that the dividend will be increased
American steel and Wire moved up. partly
on manipulation and 1t was irtimated that
important news may come cut at the special
stockholders meeting next week. strong IN,
tercsts were buying Union Pacific. B9hu
features wCro Mexican Central Incomes, 10,
ledo. ST. Lofts and Kansas city hrsts anu
Minneapolis and st. Louis funding tours
Money was 2G2l5 here and 2'a in Lonuon.
Sight sterling exchange advanced s owing
to higher discount rates in London. We be.
lieve in buying stocks on the reactions ana
bonds all the time.
New York, February l3.-The stock market
gave evidence today that the selling move
ment TO take profits which developed about
the middle of last week had run its course.
The professional operators in stocks who hest
tated to resume operations on the eve of
dorble holiday were buyers at the opening
today. There was no evidence OF renewal Of
outside demand, orders through commission
houses being small and not showing notabie
increase as prices made progress upward, but
tho professional traders bought With conn
dence aud maintained prices Arm, apparently
with faith that outside demand would develop.
There were notable advances in local traction
stocks, duo 20 individual causes. tho principal
ono being rumor that Metropolitan was
about to take over Third Avenue, There
WAS heavy demand from shorts this
group. driven 10 cover by tho strength Of the
stock, thus anordnE material AID to the
advance. otherwise the strength Of the mar
ket was due to the general favorable outlook
for business and Industry. The days returns
Of railroad earnings were all oXtraOrdma- ~
favorable. especially those Of the cotton car
rylng roads, showing a rccuperation from the
recent low level, owing 10 the tncreas ng
shipping of cotton by the high prices for that
staple and the sharp foreign demand Some
Western railroads which suffered severely
from last years snow blockades are show
ing large increases, and the increased grain
movement caused notable strength in the
gTGngtrs, But the trunk line railroad stocks
showed the most conspicuous efforts of the
improved condition Of the rate situation and
the continued large movement OF merchandise
traffic. The Southern group of trunk lines in
which the influence OF Pennsylvania being
dominated by the large purchases OF stocks of
the competing companies, were all markedly
sttong, Pennsylvania leading with an extreme
rise OF 81. Baltimore and Ohio preferred
/ tLAe over points, being greatly affected by