The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1900-07-26
IN THE STOCK MARKET.
Reaction Encouraged Putting Gut Of Some
Fresh Short Lines.
BEARS WERE BY NO MEANS AGGRESSIVE
American Tobacco Was Well Bought.
Some Firm Spots i'm $. T..
and :. X. Preferred.

New York. July 25.-The ATTEMPT to make
speculative profits IN the market barren OF
any real buying demand had It's natural re-
suit in further decline of prices today
The reaction which set In Yesterday also
encouraged the putting out OF some fresh
short lines But the bears were b. no
means aggressive in their operations and the
spet uiators on the lcng were apparently well
enough fortified to be free from the neces-
sitv Of liquieation on a rapidly falling mar
ket The declining tendency of prices con-
seGuently showed abatement rs the day wore
on and tho closing was fairly steady. but
at fractional declines There was no ey-
dcnce Of renewed manipulation tor an nd e.
vance. the one or two strong points which
were in evidence during the day appearing
TO be due to independent causes. AN. rican
Tobacco was well bought on the benct tnat
tue fcrtncOming report VIII snow e&tFaoI -
nary earnings. metropolitan street Halfway
was marked 80 from the low POINTS withodt
any news to explain the movement Iners
were hrm spots also in the railroad list,
notably IN southern Pacific ana southern
Railway preferred. but these did not repre-
sent any aggressive stand against tn reac-
ton. The cessation Of the pressure TO reailLe
aroused natural expectation mat the ouiis
were ready to resume Their efforts fer an al
vance While this cXpectauon cached ne
operations bv tho bears. the odori 10 ralN
uiico- was not forthcoming. Tie coniition
IN foreign markets was a DEPRESSING IN,
huence here, especially the fear reported
from London and the continent OF approach
iur strugeucv in the money market TINS
fear was based on the high rate OF interest
which tho British say they were obliged 10
nay n Yesterdays ullotments OF treas ry
bids and on the eXpecta ion that turth war
loan, are to be forthcoming, Tn absence
of ENGAGEMENTS of gold for expcri by tomor-
rows steamer although they had been
]
market Of its apprehension Of tuture de-
mau1, from abroad upon the local money
market. The weeks advance in sterling AZ
| Paris and the remission OF the Bank o.
France offer on interest on gold in transit
havo Apparently wiped the profit on accounts
! to France. But money in London continues
/ firm and sterling exchange here advanced a
/ fraction, and IT is considered certain mat
/ the recent of gold from western points VIII
BE- followed BY \ renewed outEo CT the
metal. The ease Of call loans is to be at
tributed as much to the desire OF lenders
/ to kecp their funds in easily accessible
| SHAPE az to any plethora Of idle funds seek
! ing emuloyment New York bank RS are
lpractioally out Of the market for mercantile
naner and they continue to loathe TO put out
] funds fer time loans and for any long period
The sub-treasury has supplied about $1,000,
coo h tho money market on balances nee
/ I7riC6v. but this has been on a declining
scale and todoy's debit balance at the clear
/ ing house against the government ustitu-
tioa was lrss than 5000 Reports Of an
attempted adjustment OF various matters n
disuute between the New York Central and
its em0oves the failure to advance refined
sugar ms expected. the st II unsettled scala
OF wages among steel workers and the de-
crease In earni3es for st Paul for the third
week In July were minor factors in the de
preston.
Thu bqnd market was without any feature
Of Snec.al interest Total sales par value.
Sl120000 United States refuudng Is when
issued advanced 4 and the old IS and IS X
in the bid price