The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1901-07-20
DEMAND FOR U. P. SMALL.
Was a Conspicuous Absence of the
Buying of Thursday.
MARKET WAS HIGHLY PROFESSIONAL
Very Few Gains Were in Evidence
Southern Pacific Up to SO t-s
at One Time.
MARKET WAS HIGHLY PROFESSIONAL

New York. July 10.-1he character Of TO-
days stocI market was much the same
as that Of yesterday, but there was con
spicuous absence Of the late enormous ue-
mond which left Union Pacific yesterlay
In the closing dealings. The volume oil
transactions was rather larger than yes
terday. but the market was nevertheless
highly professional Much liquidation had
to be absorbed by these who set themselves
the task of supporting the market ana
the buying seemed TO he too heavy 10
carry. Prices broke through support IN
the late dealings ind the market closed
weak at the lowest of the day. Even these
stocks which had shown strength had very
little left to show in the way of gains, and
the stocks which were conspicuous Tor
strength yesterday were conspicncusly
weak today. The stocks selected as props
for the market today seemed IN be pin
cipaly amongst the Southern railroads and
the Gould Southwesterns. Included wi
the latter were Western linton and Man
haitian. Texas and Pacific was IT one
time points over last night and there
was large buying in Missouri Pacific.
! United States Steel stocks seemed to b.
vel under control by Insiders and the!
were marked up sharply over point eath
during tho period of strength IN the mar
ket. The sustaining tnrCe OF these al
| vances, however. was STEADILY taken auNah-
tage OF TO realize in the railroad lis. Cniun
Pacific. St Paul and Atchisun were n
most conspicuous objects OF the selling
southern Pacific at one timC broke away
| from the group aud was marked up 10 JJ7s,
| apparently I'm pursuance or the design o,
supporting the market for realizing pur'
poses Tine device proved only moderately
successful, as did others of the samr char
acter. In the late reaction the decline IN
\ st. Paul extended to 55s, Union Pacific Y
1 80. Atchlson to 31s. Missouri Fdclhc "a
and Southern Pacific to in Much OF the
| selling seemed to be prompted by the r.
newed fears OF disaster to the corn crop
| the same motive being at work In tht
corn market The selling for Western ac
count was unusually large and was a.
tIbuted to important interests. The selling
/ for London accounts was another impoi
| tlnt factor In today's market. IL was
most conspicuous In the United states steel
/ stocks, but extended besides to others g,
the internationally listed stocks Inc
/ DAYS total sales for that account We're 6
timated at as high as 100000 shares THIS
| development was a factor In the nrmness
| Of sterling exchange in New York anu the
| easier tone of money on London. The seem
ing Dissemination to continue the support
| of the market by the group of capital
to whom spectators have been looking iuI
/ that purpose emphasized the disposition e.
sell. The weeks movement Of moneJ Il
| and from the interior gives promise of q
strong bank statement. The weeks large
| disbursements Of pension payments on ac
count of gold deposited with the govern
ment at Pacific coast points. and some
| large expenditures 10y the government OIL
other accounts has resulted in gain from
the subtreasury Of S3720,oOO. The express
| movement OF cash to and from the In. erlol
! is estimated to have netted 10 the banhs
as much more. The changes in the loan
| item are slightly problemauCal the liquidu
| tlon early in the week possibly having been
Offset by the later measures TO support the
! market.
! The bond market was moderately active
| and irregular. Total sales par vau ,,
| 50, 500, 900.