The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1900-01-20
N THE STOCK MARKET.
e.,,,,l Dizziness Gave Way to a Showing
Of Strength.
,axlY GAINS IN CASH BY THE BANKS
waiting Contingent waiting
COR some Positive pcve'"rment +
pcforc Taking Action.

yak January lbs. Mum, Son n
| u say Of stocks;
s..srs sere UP owing to reports OF British
ew,ss. in South Africa, some advance IN
ffssc rise In consoIs. lower money mar
Lau 'ra easlcr rates OF exchange II Is now
~ aa s.t inc hank statement tomorrow Is
'iq W ~ shou, an increase In surplus reserves
e,y at " az London bought Union Pacific to
y teut. investors are buying Atchison
Nm,.,,sd chesapeake and Ohio, Northern
e ''i preferred, Union psciHc preferred;
s.n,syills and Big -Four or any other good
Nasn' "a, stocks, as bonds are rising. q
per h,eh had not little to do with the
...sth Of the position today. Bonds arc
.apr M partly owing to easy money The
NI I NM 81 Louis Southwestern issues,
's.aa,ssfIls and Evansville and st. Louis. which
n.sa IN per cent, Iron Mountain SIS. san
sv,onio and Arkansas Pass Is and Wabash II
. ssbsntutes. There IS better class oil buying
y ',ncts and much of II is Pacifics for in
.,..msni Third Avenue broke, owing partly
Y .rr,or 81 a hitch in financing and floating
IA, rhIch were afterwards denied. Metro
.sv.ln went off In sympathy with Third
.ssnns Manhattan was weaker as it viii
,tso Money was 9Gi per cent. closing NJ !
w cent one hloes Of $4,000 Iron Noun.
I'll q was sold at the stock exchange, mostly
a one house Large sums Of unloanable
mobey are being forceu fllto Tue pVuu mar
HtW Standard Oil and Gould people we're
fsyny Missopr Pacific, rs also was the Chi
~ ana Alton syndicate. Union Pacific was
- hslped BY rum0rs of closer relations III the
IN future with Northwestern
We recommend buying OF good railroad
serk for Investment or speculation and also
Soras We believe the trend of prices is
irssrd,
NV York. January 1.-THE dullness and
,n,,by which has prevailed in the stock mar
Il, all week obtained early today, but gave
way later to showing Of strength Stocks
sdysnred to level substantially above that
4 last night The immediate motive of the
fbying movement was the preliminary est-
nate Of the gains in cash for the week by the
associated banks. Tho money market during
.be week bias shown With sufficient clearncss
hs cash reserves we're being largely rcplen-
she'd but II Is rather tradition with stock
operators to defer action to discount the bank
statement until Friday afternoon. There had
been very large waiting contingent In Wall
street Watching for some time for positive de-
wcpment in the market before committing
themselves 10 action. All the larger commits
sion houses have been advising their GUS
toners 10 refrain from action and await the
8market Apparently large proportion Of these
we're impressed by the earlier events of tho
pay in The market and camo IN with buying
fders In force during the last hour. The
professional traders themselves turned In u
fedy 10 the long side of the market After
PAVING made savage drive in the morning
Third Avenue, breaking the stock over ~
penis, the amount Of stocks brought out in
ne decline did not prove very encouraging
Ald the rest of the market was not acutely
fneted. A number OF positive points in
nrgth also developed, notably in Missouri
racine, IN which there was evidence of ope-
latens by pool. The whole OF the South
sesern group was affected by sympathy,
fn'yltnsanding the deterioration in earn
Is on account of the small cotton movement.
y, metal group was also strong, led by Steel
VA WIRE which was bought In anticipation of
'ceno. sugar was figure in the absence
lesvy dealings in which the late general
aauce IN prices. was inaugurated. There
w a famofs all day OF the relief of Lady
WI, put as London sold more stocks than
asoul much effect. II Is estimated that
y associated banks had gained IN to Thurs
nearly $4,000, 900 In cash. the estimate
INV pased on figures furnished by the prin-
,pai banks Of the direct export movement.
nls, Total operations with the subtreasury
s'e furnished A,l96,0OO. There had been
n. e s,e Of any large loan expansion in
I'M, ' I'M put the time money market and
e,Iv. "' mercantile paper has been quite
ka,rn q Notable Increase In surplus re-
ny y, however, considered assured.
,asS maThet Tor railroad bonds continued
r,nss., ~ active all day and strength was
I'M y sstpSSIdgnout the list. Total sales, par