The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1900-08-31
In THE STOCK MARKET.
Stocks Gave Early Promise OF Strength but
Deals We're Insignificant.
THE STEEL GROUP DISAPPOINTED HOPES
There was DcsuItory Speculation in
Sugar, but the Resulting Gain
was Later wiped Out
THE STEEL GROUP DISAPPOINTED HOPES
tspeclsi to The Post,)

New York, August SO.--S. Mum, Son & Co
say:
stocks were dull but generally Arm. Sales
144. 1856 shares Bonds steady; sales SLID 100:
exchange hdh higher. London bought 1000
shares. mainly Norfolk and Western common.
Bank of England rate remains at per cert
Consols 4 higher. Fifty nine roads for Inc
third week Of August show average increases
in earnings of SIS per cent No Southern
Pacin: president will be elected for SOM"
months burlington disappointing state
mant was offset by good crop report. Sehti-
mept on Sugar is bulsh owing to the trust 3
practical control of the supply of raw sugar.
All grades of refined were advanced POINTS
and a further rise Is expected. Coal STOCKS
were bought on expectations of an early col
lapse of the strike movement. lnslders
bought Brooklyn Rapid Transit. Steel STOCKS
were bought on talk of impending favorable
developments in the trade. Buy good rail-
road stocks on reactions
New York, August 3O.-The early promise
of strength in the stock market today was
not maintained and after brief period OF
some activity and frmness, prices began
to decline again, and the trading tapered
down to the insignificant proportions which
have become the recent normal. The traocrs
rightly concluded that this indicated that
yesterdays advance was due to nothing more
than covering of short contracts p,ne,ng
the approaching three days holiday. Inc
steel group especially disappointed the hopos
that a bull movement was under way by
developing heavy tone. Steel and Wire iailiLg
hack over a point There was a dasultofy
speculation in Sugar, which lifted it at one
time over point after the announcement
was made of an advance in the price Of re-
fined sugar. But the gain was almost en-
tirely wiped out by the time the market
closed The railroad statements tor Jtly
which appeared today counteracted 'he IA
yorable effect of yesterdays showing by the
St. Paul company. the higher level Of operat-
( ing expenses serving to bring down the net
Pacific and Southern railway, while Chicago,
Cleveland, Cincinnati and St Louis sayed
only small part of its gross increase for
net earnings The explanations which were
offered of the heaviness of stocks formed cub
stitutes for news to some extent. For in
4 stance. there was some renewed solicitudc
! regarding the future of the money markct
The fact that the Bank of England had dza!n
offered interest on gold in transit gave ground
/ for the expectation that the export movement
of gold may shortly be renewed Sterling
exchange rose a traction in New York In
the pessimistc mood of the local mnrket the
department might be obliged during The eaI.y
fail to draw on its deposits with Il Ma
tona banks in order to meet extraoriin''
expenditures for military operations. nelo
was nothing in the days money mIrke. 10
| give color to any apprehension Of niehrT
rates The market closed duil and heavy a;
a generally lower level Of prices.
Bonds were dull and irregular. Total sales
par value $l,115,0OO.