The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1900-04-13

ard OIL brokers ana the Nutne t. ~ ~ the
w.re persls.ent BUYERS The buying is on .ae
,Teory mai the trade war settlement is not
far of. Norfolk and Western Is wen su ,na-a
OF on account OF the 2212 per cen, ~ ~ Ia
in soft coal rates. which IS expec''u ondon
rejected in the larger earnings. E ..noiss
hourht INV 10000 shares of various sto sni
On the whole industrials were weak nu 20, 7s
ways strong. Total stock transac'ions 5v Sa.
shares. Bonds were firm. Win 49, Noun
mand and the features included iron houn Ia
rain As ST. Louis Southwestern nsts anu tho
Missouri Pacific IS. Buying on reactions Is ''e
best policy.
New York, April l9,-The fact that 'opaS
odiorrnment Of the stock exchange was TO
he until next Tuesday prompted the closlhs
up OF speculative contacts today. ffoles-
sional traders are ayerse to keeping open
contracts for so long period at any t''no
and at this time especially they seem 10 nave
in mind the varying possibilities OF the war IN
South Africa, the war in the sugar trace anu
the showing to be made by the weekly pshA
statement on saturday and also the posi-
bil> Of gold exports by Saturdays steam
crs. AS realizing has been going on TO large
extent this week, most of the uncovered con-
tracts wereion the short side and the demand
to cover was an important factor IN rallylns
prices II addition the bull pools, when en-
list in Tuinber OF stocks adopted aggressiNs
tactics or au advance, taking advantage OF
the dissemination OF the bears to extend their
comm lments Oh the eve Of the holiday. After
the DEMAND from the shorts had been saus-
fed the pool fnanpulators began to 1nu
Themselves alone in bidding in stocks with
s,osdily augmenting burden OF realizing sales
as prices reached the higher level The pro-
cess OF bidding up prices was therefore dis
continued and the market lapsed into COM
paratve dullness and sugglshness. The in-
dustrials moved quite independently of the
general market and none Of them occupied
very CONSPICUOUS place IN the trading. Inc
mos. notable movement OF the day was that
in Missouri Pacific, which on buying alleged
TO be for manipulative purposes, was carried
up nearly 4 points and closed at the top. This
had a/sympsthetic effect on the other mem
bers or the Southwestern group. Union Pa
cifc Mas very heavily absorbed and was car
ried up to CO. the other transeopuueutal lines,
inClGCng the Atchlsous. responding in SYM
patty The Baltimore and Ohio stocks and
NGfoIk and Western stocks rose conspicu
Oysly. the former on very large dealings and
well sustained strength. The graugers were
Comparatively quiet. with the exception OF
Baltimore and Missouri Pacific gains were not
well maintained aud the closing was decidedly
unsteady and below the best The lndustrials
Federal Steel, the steel and wire stocks aud
othe stocks % the steel group showing acute
weakness at different times. Third Avenue
showed the effect OF disappointment over the
terms Of the lease to Metropolitan. General
Electric was an exception and enjoys a net
gain OF 3h. In spite Of an easing oil IN the
London money rate continuous buying of
stoC kg for London account and the unprecd-
dented balances in this countrys favor, as
shown by the March foreign trade state.
mont sterling exchange moved up an add
tional fraction today.
A favorable bank statement Is considered
assured owing to the large gains in the treas
ury and the ease In the call money market
will facilitate gold exports. There was mod
crate activity and strength in the bond mar
het. Total sales par value 81 ,205 900.
Prices Of stocks have moved downward dur
ing the week, with the exception OF n few
stocks affected by special conditions of
strength or which were under manipulation
to sustain the general list for purposes OF
realizing. There has been some recovery
pending the three days adjournment of the
exchange over Good Friday, due in part to the
demand from bears to cover short contracts.
The market has been almost entirely in the
hAnds OF professional operators during the
Tour days on which business was done ana
price movements are not an index of pubic
s Sc regarding the business outlook.
I ihat IS 70 say. stocks have not been sold BE-
Veloped. but because the considerabie al
vance IN price offered attractive profits to
Garner buyers. and the question arose whether
.ue rise had not fairly discounted the pros
ferrous conditions. The character OF some
OF the selling released conviction ON Tho
part OF those with good means of Informs
ti4n OF the desirablity Of realizing. The ad
mission OF pennsylvania officials that adj
vantage had been taken of the existing high
in 10 OF prices to market some Of the stock
ine company's treasury was accented az
clear intimation that the price and siock
I Ist,,! gone as !gh was parrantei When srecu-
.pSlNe operators in other stocks sougkt IN
sahe this profit. they discovered that ssmi.
..nNsslment demand based on the dividsnd re-.
urn y. ouered by the stocks had largely ceased
nros sne nlsh level attained by some. me
sis-t ssIoual pear traders are alwayy on the
bsya lSI such condition Of arfalrs and thew
I'aai usen prompt 10 take advantage this
meek, put selling stocks short ana faLiry tbs
90, H. III from those seeking to rhalize IA
teinu.1lous OF business continue IA yorahle ~ ID
ta'i 70 assume that the decline b. nriras 1T,
n eS hIresled before the late advance mas han
enl'rely wiped out Has ueeh
mr., resss uncertainty is felt regarding the On.
anpo,nttre nohey market Lsst week s dis
tin,iinr y o, Dank statement mas had a con.
s,nail Increase IN cash reserves a. ~, ~ ths
oners,sns aecretions by reason OF subtreas,,rv
tIy,,s asioas, remains UNEXPLAINED The eor
,rass,i outgo OF funds this week from TIC s,,h
faieSI 20 the market has for thls rcs ssr
Rra,I 70 nave much influence on Sentiment
inS 1 saas IN bonds hss been on n dIminish.
tainsd ,h.,r out prices have been better sus-
''"eu 'han III stocks s's
o,,b l9uowing are the closing nr,cas n, 90.
'''"e'pai Stocks I'M New York: u Wv
$50 CLOSING
Atchison f"''...,... 1870 a7ii
Baltsmnro pt -t;,;.......... 22,la0 7as.
Chesapeake ana Ohio 49,. 49, iS' iaS ~
= u and Quinty ~ Ss&
IN aud Northwestern ' 5e l@