The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1900-01-26
in The STOCK MARKET.
Rumors Of wsrrtn's Victory al Splonkop
Helped Prices.
A BRIEF PERIOD OF ACTIVE BUYING
Industrial specinIties showed Gains
in sympathy with Their Interests.
standard oil Record Price.
BRIEF PERIOD OF ACTIVE BUYING
special to The post.)

New York. January 25-s. Mum, Son q
Co. say Of stocks
Stocks advanced early and then reacted
closing very quiet European bank rates were
reduced, including those OF the Bank OF En-.
gland and the Bank Of France. Money mere
2izdSk per cent, closing at Iota sa az a, o.
stocks here 100000 shares. bonds 2,4ls.V1u
Short sales were made OF Chicago, Burlington
and Quincy and other grangers Nanueroli.
interests il is believed, will be represented
In The Brooklyn Rapid Transit directory 70
be elected tomorrow, also REPRESENTATIVES OF
Iohn n Rockefeller n, o. Mills and the
Whitney Bradley combination. New fotk
sympathzed with the rise IN London Que 70
4 repulse of the Beers and London Sougn.
about 49, Oo0 shares. including Louisville anu
Nashville Baltimore and ohio, Atchison and
the Pacincs The First National bank is sain
20 hs patiently buying good dividend paving
stocks Easy money helps the general list
The passage Of the rapid transit hill by the
state legislature caused selling Of traction
stocks hut they had pretty good support Inc
greatest drawback is the dullness of specula
ton most operators holding off for further de-
vclopments. South Africa is really the Key
note OF the situation Bonds are in sharp
demand and strong. Features today were
Western New York and Pennsylvania Rail
road. New York Ontario and western East
Tennessee and Georgia consol IS and similar
tonds. We think the undertone is firm and
we therefore advise buying on the break.
-
exchange at the opening today reflected, in
degree, an improvement in London on the
news that General Warren had captured the
Boer position at spionkop. There was
brief period of active buying by professionals
in expectation that the spell on the market
would be broken and an outside demand for
stocks attracted. but traders quickly detected
that there was no competition outside their
own ranks in the demand for stocks and they
turued to the short side almost Immediately.
Tho sagging nj prices below the London parity
made operations profitable for the foreign
arbitrage houses since prices in London were
well sustained at the higher level. Buying for
foreign accounts in the international stocks
were estimated at from $4,000 to 10000 shares
and even this demand was largely met by
sales for short account. The industrial spe-
oialtes showed gains in sympathy with the
interests, bu, they were not so well sustained
IN the absence OF foreign demand. The abso
lOte lnertness OF the demand prompted some
pressure by the bears against the .ndustrials
70 the last hour, but prices seemed as I'm
wiling to move downward as upward aud
the shorts covered before the close which
was hFm at slightly below the opening leyel
III most cases. The weekly returns OF the
Bank of England and the Bank OF France
disclosed continuance of the notable reau&
uto their cash reserves OF these institutions
accompanied by continued liquidation Of loan
obligations 10 them open market Discount
rates abroad continue soft in spite OF cuu-
tiuued increase in the reserves OF the gov
crnment institutions and in London are SIN
nearly | per cent below the bank rate even
AFTER today reduction TO per cent The
demand for money In New York also continues
very sluggish although the rate of the n
fuX 10 the banks OF cash continue 10 de-
crease OWING TO the large revenue receipts
by the government. Mercantile paper Is con-
ing into increased demand and lenders o.
money make additional concessions ia the
placing Of time loans. All this has not the
slightest apparent effect Ia attracting any
operations in the stock market which went
through the whole day after the op ming spurt
very near the lerel OF tho stagnation.
feature IN the outside market was a demand
for STANDARD on, which sold at Sle. record
price
Fhc bond market was rather broader than
,hS' lor stocks. bnt showed falling off from
the recent active business Total sales, paf
value, s2,2i5OoN f