The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1901-10-15
THE CONDITION OF STOCKS.
EARLY WEAKNESS OVERCOME.
Speculative interests Continued Efforts
to Sustain and Advance Market,
Though Without Aggresstveness.

New York. October 1i.-Enorts by large
speculative interests to sustain ana au-
vance the stock market continued In ey-
dence today. They succeeded In overcom-
Ing tho carly weakness, but after the level
of prices rose over the total OF Saturday
their following decreased and the advance
lost It's force. II was not aggressive ar
any time and was restricted TO a Few
stocks, notably ST. Paul and the Pacihcs.
The elimination of large proportion or
the short interest as n result or tho ad-
vance late last week deprived the market
OF an important element Of strength II
was evident that n sustained advance ut
shis time would have TO depend on the et-
1rosts of the large financial powers The
elements were supposed last week TO have
embarked ON a campaign for the ndvance
owing to inside information of plans to set
tie the Northern Pacific tangle but appar.
emily last weeks reports on that subject
were either not well founded or premature.
The suspicion has gained force that the
circulation of those reports was a manipu-
iative measure against the shorts. or was
designed to have the least possible EFFORT
upon speculation after actual announce.
ments of some such measure. The percep.
ton emerges that measure to finance the
NhfAuefn 1Nclut settlement are the great
object 10 he attained at present, rather
than large Interior projects Of additional
consultations.
The prevalent rumor OF an assignment
by the financial powers Of the control OF
the ST. Paul to Union Pacific for COM
pensation as a REIMBURSEMENT for the con-
trol OF Northern Pacific 10 the Morgpn-Hi M
interests does not and great credenee Such
q settlement would not provide for the
naturalization OF the Burlington system as
competitor OF Union Pacific, which was
The vital contention OF Union Pacific
throughout the quarrel. Nevertheless, st.
Paul showed Itself the most sensitive stock
IN the market today, falling early In the
day 1& below Saturday and rising later 10
"a above. The rest of the market followed
the movement In So. Paul, though over a
lesser range throughout.
In spite OF favorable interpretations or
Saturdays bank statements, there is some
uneaslness persistlng OF the safety OF the
money market for the rest of the season
The seemingly acute demand for funds at
Paris weakens considerable surmise as TO
money In London Is dependent upon the
large amounts Of French capital loaned IN
that market aud heavy Withdrawals from
London may have serious effects. lne
whole tone OF foreign markets continues
nus depressed At the same time II IL to
be noted that the rise In sterling exchange
here has been checked. Today''s action by
the Bank o. England in advancing the price
Of American Eagles even Indicates some
apprehension Of future demand for gold
from New York. Should the demand for
Ste ling exchange for the purpose or repay
ment OF foreign borrowings come to an END
ard the beated movement OF cotton quickly
grow. there can be little doubt that ex-
change would fall to the gold import point
almost ut once
The notable decline in the movement or
grain over the railways exercised some
depressing influence on the market Ihe
closing WIS unsteady but at top prices Tor
There was a decided demand for railroad
bonds and the movement Of prices was ir-