The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1901-05-23
STOCK TRADING DRAGGED.
Relieved From Semi.Stagnation BY
Movement in Fries.
SPECULATIVE PUBLIC is INDIFFERENT
Number OF Minor Industrial Stocks Were
ST rono on Very Palpsbie Manipula-
tion-Bonds Were Active.

New York. May 22.-The stock market
Tell further into apathy today and was
only relieved from seml.stagnation by the
movement In Erie stocks. Considering the
present Indifference OF the speculative pub.
| lie TO the market, the volume OF the trans
actions In Erie must be accepted as sig
nincant. The professional traders. at a
loss 10 secure even a fractional profit on
turn 10 the market, Hockcd TO the Erie
crowd as the movement progressed and
added their speculative operations to the
other buying Of the stock. The opinion
however, gained force on the exchange that
the movement marked n resumption of OPP
erations for the extension of Influence and
control of existing railway systems. The
buying was attributed to wabash interests
and there were sundry circumstances
which offered some corrohoration
Statements We're published this morning
to the effect that controlling interest had
been secured In Lackawanna In order TO
AFFORD an outlet f6 the seaboard for the
Wabash and the GoMfd Southwestern sys
TEN. This evidently represented an effort
to account for the strength OF Wabash and
Its Southwestern affiliations In face of the
disappointment over the nondecnration OF
n dividend on Missouri Pacific. II has been
stated for several days past that the buy.
ing OF Toledo, st. Louis aud Western
stocks was for Vanderbilt account and II
was claimed today What control had passed
1t is TO be considered that the railways
run over closely related territory and the
activity In their stocks fssors the pre-.
sumption that the problem Or thylr future
relations and control Is being Worked out
The strength OF Chicago and Louisville and
l.xCA III
have had bearing on the same problem
The strength of the bitumluous coal.car.
rylng roads was directly attributed TO the
declaration Of a dividend Of ~ per cent
OF the common stock of Hooking Valley,
the first In its history. The strength OF
Reading Was called In sympathy with Erie
In Its character as an anthracite carrier,
but Erie was the only one of the group TO
maintain its advance. This stock closed
at the Highest at a gain OF 2A Some OF
the individual blocks purchased ran as
high as 5000 shares. feature Of the day
was a sale Of Northern Pacific al III, com
pared with lj653 last night, but the stock
dropped back again to 100.
An unpleasant impression was produced
that the authorities vf the London stock
exchange would reselnd the suspension OF
rules Tor buying In of Northern Pachc
siu',inn "s"ihst nv sHorts' az tue last set
tlemcnt, Ii viii he remembered the uif
hculty on this account was adjusted by
allowing the shorts to carry over ut Il
liked price. hut this left their contracts
stll uncovered aud the buying In of shorts
for the next settlement. which occurs next
week, would be the occasion for renewed
nneaslness This suggestion and the an.
nouncemcnt OF JoO.0U exported gold had
a part In the early heaylness Of the market
The fact that there was no additional
gold engagements, contrary to expectations,
may have had some influence In the later
hardening OF prices, but the vigorous nd,
vance In Erie was the main factor A
number of minor Industrial stocks were
strong on very palpable manipulation. In
the general list changes are small and
| somewhat mixed.
The bond market was not very active
| but showed some strength Total sales
| par value, 81, $4,000.