The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1901-10-16
STOCK PRICE MOVEMENTS
WERE NOT AT ALL CLEAR.
The Opening Weakness Gave Way to a
Period Of Strength, Which Was Met
by Profit Taking.

New York, October 15.-The movement
of prices in today's stock market lacked
clearness and cohercncy at all times Open
Ing weakness gave way to a period OF
strength which was net hy profit taking
and the resulting reaction was vigorously
contested by aggressive manipulation Of
Pennsylvania, The whole market finally
gave way to weakness and closed at
lower level than yesterday, net losses
reaching a point or over in some of the
leading prominent stocks.
The only aggressive force for n rise In
the market was what might he called the
FORMAL invitation. issued by the arch ma
nipulator in the street TO the public to
follow his leadership in speculation for
khe rise With a suggestive glance toward
Southern Pacific as an available market
leader This invitation made It's appear
ance In circular form yesterday. with an
appropriate demonstration in the market
ia herald 1t. AS the author has been as
ISOLATED i'm Wall streets mind with the or
ganized support OF the United States steel
stocks, those stocks shared In Yesterdays
demonstration but the sequence today was
less convincing Southern Pacific indeed
started on with furry and st. Paul made
a preliminary advance Of 1h.
Other stocks 10 respond were few and
the obvious fact that heavy realizing was
going on In the Pacific group Of stocks and
St. Paul served still further to dislnelina
the public TO accept the Invitation TO
speculate. A movement In Pennsylvania
which developed later and which carried
the stock up . points was nominally based
upon the. heavy traffic movement over the
company's lines, but the resemblance Of
old associations of the author OF the inyi.
tation referred 10 with marked movements
of this stock aroused n suspicion OF pos
6lble consolidation on his part with the
movement. The buying was congested but
also was the selling, one brokerage house
being credited with sales OF 10000 shares.
Thae last price Of the stock showed only
a fractional remnant of the extreme ad-
vance.
Last weeks enthusiasm over the alleged
plan OF proprietary company 10 hold
ern Pacific and Burlington, and TO release
large amounts OF tied up capital, has en-
tirely evaporated as the release Of this
capital Is seen 10 he contingent with the
pubMc taking OF the stocks.
The renewed heavy demand for currency
frofa the cotton centers was q disturbing
Nlri0 IN the late trading. There were
frHBsfrr through the snhtreaEmry Of $500
lfa 81 New Orleans and S3OO0O0 10 St
ia Nn the other hand rise In ex-
rom 10 cents premium marked the
" The demand from that quar-
ef rhera were no payments for bonds
W. tie suhreaslry today, the belated SGT
t Of that account having apparent
een completed, and the government in
In has withdrawn 81 10000 from
market since Friday The downward
ency IN sterling exchange was checked
London was n seller OF stocks in this
fket There was a somewhat specnla-
lion In Amalgamated Copper. which lifted
the stock over polrf, then drove u down
Of half
Railroad bonds were quite active and
generally hrms Total sales, par value,