The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1901-06-13
NO DEMAND FOR STOCKS.
Market Fell into a Sort of Semi
StaguatiOn Yesterday.
A FEW SpEclALTlES SHOWED ACTIVITY
Colorado Fuel Attained Sensational
Height, but Lost Hall OF the GAIN
Later--Bonds Were Dull.

New York. June 1.-THE stock market
fell into scmi-stagnation during the latter
part Of the day aud the gains which we're
established In the morning were pretty
generally wiped out under the drlhble OF
selling orders, which came on a market al
most bare of demand. Various points of
strength made appearance during the day
hut they lost their influence in sustaining
prices The more cheerful feeling in Lon
don this morning was quite a noticeable
influence In the opening dealings.
Rumors have been very persistent for
several days now that peace is approaching
in South Africa. To appreciate the impor-
lance Of an adjustment of the long drawn
out struggle there, that is, for the world
Of capital. it must be borne In mind what
enormous demands the British government
makes on accumulated capital for the con
duct of the war as well as the absolute
cutting off Of an important proportion of
the worlds gold product while the war
lasts The large disbursements by the
government on war account, combined with
the fears of Russian deposits from Paris,
is what has given the London money mar
kct ITS present ease and has led to some
expectations that the governors of the
Bank Of England will further reduce the
minimum discount rate at tomorrow's
weekly session
A 10 per cent instnllment amounting TO
| SaOOOO.UOo Of subscriptions TO the new con
/ soils issue, is due on Tuesday next. June Is,
| and the demand for money which results
! is factor against the reduction In the
! bank rate la the local market the Lon
! don influence soon spent itself
| The most notable features OF the market
! - l.rs 0 a .
! which each rose as much as ~ at one
! time The superstition In the street Is
that the Missouri Pacific directors will
| meet next Monday and put the stock On a
panieS showed some sympathy, especially
The Denver and Rio Grandc stocks The
movement In Pennsylvania was due to to
days report Of the acquisition of the Penn
Sylvana Steel company by the railroad
company to safeguard its steel rails supply.
ne United states steel stocks were
rather significantly heavy. but the stocks
of Independent companies shot mp In Il
striking manner. The movement I'm Colo
Tado Fuel was sensational, the extreme rise
reaching 1919 and the jumps between sllts
reaction loft the stock only Sl2 net gain
tennessee Coal rose "A ana the American
Car stocks the Republic Iron and SteeI
stocks, Soss.Shcfhcld and Smelling be-
tween l and , points The dealing In
Colorado Fuel was for Chicago account
National Lend continued to show the effect
Of expected benefits from Standard OIL con
troll Of American IinSeed. The New York
public utilities were strong on the hone of
escape from the provisions Of the franchise
tax Northwestern preferred recovered I
points Of yesterdays loss. Movements o.
any significance outside these stocks were
confined to few rarely active stocks
The preliminary statement of the May
exports of agricultural products Showing
an increase over May Of last wear Of over
Sll.uOooNu and the governments weekly
crop bulletin reporting needed rains In the
districts shown to he suffering by the
monthly report for June, seemed 10 war
rant a superstition Of Increased ynlues fol
securities. but they had little effect II
checking the dropping tendency from III,
opening high level and the price change
for the day are somewhat mixed betwceI
gains and losses and are small in all case.
outside Of the special features Indicated.
Mexican Central income bonds we.
heavily bought but the general bond mar
Set was dun and irregular. TOTAL sales
par value $50 695 600