The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1900-07-19
.STAGNATION IN STOCKS.
Bull Clique Gave Up Their Efforts 10 Keep
Up The Advance.
THE CHINESE QUESTION IS PERPltSING
while Trnnscontinentni Roads VIII
HnuI War Munitions other
Trade VIII he Cut Down.

New York. July is.-s Mum. son & co.
say;
stocks dull and irregular Sales 2S''Vi
shares. Bonds Arm; sales ss6s.5oo Money
|li.aiis. closing IA Exchange easier.
London sold 10000 Union Pacific and IS
ooo other shares Foreign markets depressed
by Chinese news. Consois Is lower AND dis
counts higher Gold engagements for ship
msnts tomorrow s. 600, 600 ST. Paul was ad-
yersely affected by its statement Of earnings
showing = decrease for the second week oil
July OF Sss.453 ana since July L Of Sl7s'5h.
Illinois Central was helped BY IT'S seini-an-
nual dividend Of 3 per cent
Sugar was strong IN spite OK Boston seilihs.
The company is said 10 he earning Sl2.oN a
day az the present margin OF profit on re-
fined sugars.
baltimore aud Ohio was sold on the report
that the divid nd will not be for any stated
period Union Pacific dividend meeting 20
be held the first week In August: diyld ais
will be OF the rate Of 1 per cent on common
and preferred There was heavy profits tax
lug IT, Pacific Mail. but it showed strength
on anticipated benefits to b. derived ''om
the Chinese war. There was good ouyips
on Northern Pacific. Understand that -,or-
folk and Western surplus Will be applied to
Earnings Of sixty-one roads in the seconi
" eeks Of July increased 40 per cent. London
on good reactions ,ii buy railroad stocks for
quick turns
New York. July l5-The bull party desisted
from their efforts to advance prices today
and the recent appearance of activity, due
20 their operations, promptly gave place
aEaiH to something near to stagnatlon. While
the pressure to realize was not severe, it was
evident that the recent demOnstratiye buying
by the bun party has failed utterly TO attract
any demand from outside sources 30 that no
marker is offered for the taking OF profits
III Is not difficult TO foretell what would pc
the effect under these circumstances-?t the
selling out OF recent speculative purchases.
Apparently the principal reason for the Ces-
satior Of bull manipulation was the demon
strated utility OF the attempt TO attract out
side buying.
Predictions OF dividend action in Baltimore
and Ohio are so far discredited that that
stock went backwards today and even Ut'oh
Pacific which has been advanced by much
more aggressive management, fell back Al
most as much, tn latter losing IA net and
the former IS. The increase In the dividend
rate OF Illinois Central apparently did not
add TO the crcdence given to the predictions
Of other diyid nd increases.
Yesterdays violent rise of points in Pa
cifcs and the strength of the Pacific railroad
stocks were fully explained by today de-
tailed reports OF thu chartering of steamships
in tAe Pacific by the United States govern
nent and in the Atlantic by the Germans for
use 20 transport military supplies to China.
Bul the inviting prospect thus far o1ersd
Of lucrative tranic for the transcontinentel
railroad lines was Offset today by some other
conditions OF the results to accrue from the
war in China. Wall street has not given
much attention hitherto to the check in I'm
port trade ia textiles caused by the unsettle-
ment ia China The unsasiness caused abroad
by reports Of Boxer nroads upon Russian
territory brought sales of securities on New
York for foreign account and a reminder that
forced liquidation abroad might throw con-
siderable burdt ms upon the New York stock
market
The days shipments OF gold were a rehec-
ton OF the money needs OF foreign market Is
which are not unlikely TO grow acute II the
government expenditures for war prepara-
ments. amounting to $1,000 600, were more
than million less than was anticipated A
further sharp advance 10 sterling eXch lnge
at Paris. reduction in the bank Of Eng
lands price for American eagles and a slight
decline in the London rate OF discount as
well as q softening tendency IN the local
exchange market, were all developments to-
ward a lessening fall at Paris. An advance
, on the bank OF England rate of discount
law Is not felt 10 be so certain now as yes
teroey The immediate continuity Of tire
gold export movement is thus felt to be in
some doubt. But IL military operations are
10 be carried on in China, the needs OF the
govern uent for capital will pretty certainly
converge upon New York as this Is now
the cheapest money market in the world
But ureasiness Is caused by the conjecture
as TO the effect upon the Now YORK. money
mark when tho interior demand for NOV.
Ing crops is added to the foreign demand
The money market in New York continues
dull but funds for time loans for the longer
periods are scarce
The bond market continued very dun ard
the fluctuations were uneven. Total sales
par value 1906 900