The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1901-01-17
IN THE STOCK MARKET.
there We're Wild and Frequent fIuclua
lions 10 Prices.
CONDITIONS IRREGULAR IN RAILROADS
There Were sufficient Points oi
strength to Cover the Few
Opening Declines.

New York. January ls-The excessive coz
fusion Of speculative opinion today was shown
by Wild and frequent fluctuations In prices
often connse;.ng in different groups o: stocks.
An evident effort was made to differentlate
the movement Of the steel stocks from that OF
the railroad stocks. The action Of the steel
group yesterday made 1t very evident that
decline In them was to be faced. Some ef-
fort was made at the opening TO contest this
evening and supporting orders effected
rise TO a point over last night in Steel and
Wire and Tin Plate aud OF ia In National
iuDe, but the last named stock was the only
one winch retained any show OF strength in
toe later dealings. There was some show Of
support in Federal Steel early in the day and
after an opening decline OF IA it rallied
point but the selling of the stock was per-
sistent and urgent on accolht OF dlsappolnt-
mem by spectators that no action was taken
al yesterdays meeting to insure quarterly
dividends for tho coming year. in which
there had been great faith. There was an
occasional rally IN the stock and 1t was
lifted vigorously at the last points above
tne lowest, but manipulation was papable in
he rally Al the low level this stock was
IA below last night and the preferred was
of o'4 Next TO this Tin Plate was most
atute'y affected in spite Of yesterdays per
CEN dividend declaration and fell an ex-
treme Z points. Colorado Fuel was down
oH, American Hoop 3, Tennessee Coal "a.
and others Of the group from 1 to Ia.
The conditions In the railroad list were
ngs, but there were sufficient points Of
strength 70 overcome the few opening de-
c!nes caused by sympathy with the London
marke, and weakness OF the steel stocks
There was a manifest disposition to realize
also in the 7oalers and a sagging tendency
al other points. St Paul was vigorously
taken IN hand IN the midst Of this un-
certainty and marked up nearly points,
pFe' plating large volume Of forced buying
from the bears. The market generally re-
sponded in shy. but with a quick re-
lapse Of points in St. Paul, began to run
on again. Then Burlington took up the
movement on the decision o; the directors to
Increase the stock 10 per cent to be issued
at par to sto-kholders, The resulting rise
IN the socks rea ned As but the doubt en-
sendered by the demonstrated manipulation
OF ST. Paul DISTRACTED from the effect on the
general market and prices did not get back
to the top. The advances had reached "a.
IN Northern Pacific. in Delaware and Hud-
son. pa in Rock Island and 2 points in s.
Louis and San Francisco second preferred.
Aanhaton and Sugar also rose about 2
Wnen the tutil.y of those measures to
| mold the railway list became evident. the
speculative liquidation increased to heavy
volume, The coalevs the Paciics, the local
| fractions. Peoples Gas and Sugar were
/ thrown on the market in a torrent Of large
| blocks The general level of prices was
forced considerably below last night, only
| Jew small net gains Ienld.Ht ne re-
action reached points in ST. Paul 3% in
! Manhattan and from to 3 points in the
| other prominent stocks indicated.
The closing was unsettled and Irregular.
| bu. there was no evidence of any demand
| from other than short interests.
The announcement of gold exports today
| for tomorrow steamer did not seem to az
| feet sentiment, as the early strength in the
market developed after the shipments were
| known. The accumulation Of money at p.v&.
| ent continues on so large a sale that the
| exports, and the sottness of the exchange
| II arket showed that ABSORPTION OF exchange
| bills sold against the gold exports was not
| easy.
| The bond market was moderately active
| and eased off IN sympathy with stocks Total
| sales, par value, 1880 coo.