The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1900-04-03

New York. April 1.-The stock market made
strong opening today on large buying
orders which had accumulated in commits
sion houses over Sunday. and In response TO
the continued demand for London account.
The influence Of Saturdays favorable bank
statement was s,ill felt and room traders
were inclined to the bull side. There was
large absorption of the leading iron and steel
stocks. which was attributed TO the opera
ton OF a pool and the buying of Peoples
Gas is said to DO included in the same plan.
| There was large buying of Anaconda on for
/ eign account. in sympatby with the strength
! Of copper. both in London and IN Paris, whore
| the short interest is in evident distress But.
Notwithstanding these favorable auspices ana
the additional benefit OF some extraordinary
strong statements NJ earnings the strength
OF the market was not maintained. the early
demand was very freely fed for the purpose
of taking profits by last weeks buyers. The
persistent weakness Of Sugar had an UNSET
ting influence on the list, The early strength
| OF the iron stocks gave way to quite acute
weakness after the assembling OF tue annual
meeting Of the stockholders of the Federal
st, 81 COMPANY The selling movement 3 tmei
! to gain force as the hour for the closing ap-
reared and the close was active and weak
and net losses largely pr dominated Soma
of the railroad stocks which had been notably
strong lost practically all their gains, or az
the best had them largely diminished The
Pacific stocks and the granGers were onsplcu-
Gus examines quite a number of usually
inactive railroads were strong. The fall IN
Sugar was accompanied by reports of new
cuts in the price in coffee. the war in the
coffee trade being waged BY the same rival
! interests as that in the Sugar trade. TINS
weakness in the iron stocks seemed to be
due 10 disappointment on the part of sptcu-
lators over the showing of earnings made by
the Federal Steel company. The drop In
Federal Steel from the early high point was
~ and in steel and Wire over points Other
stocks in the group were less actively traded
in but all showed weakness. The days
statements Of net earnings for February in
Guided gains over last wears February net
earnings Of e6 per cent of Rio Grande and
Western. 30 DER cent for Uuinn Pac.hr and
80 per cent for Louisville AMI Nashville. The
stocks Of these companies showed good re-
sstauce to the reactionary tendency. but the
cor !Itions thus reflected OF railroad business
Money was easy. though not much effect wac
felt from the disbursement Of quarterly in
terest and dividend payments Sterling eY-
change continued IL It's upward course. and
the question is now arising whether the in
crease in the circulating medium BY the op-
GRAFTON OF the law OF March H. may not re-
suit in sending gold abroad by relieving tho
| need for it in circulation her. The process
Of taking out new circulation which had come
to pause, is reported from Washington to
have received fresh impetus and the sub
| treasury In New York is again paying ont
large an cunts for premiums on converted
bonds
The bond market was active today. Prices
generally are higher. Total sales, par value.
$685., coo.