The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1901-01-15
IN The STOCK MARKET.
The Currents We're Exceedingly Confusing
and Irregular.
SPECULATIVE LIQUIDATION WAS LARGE
some of the Recently Prominent
stocks in the Advance suf-
fered Setbacks.

New York January 1.-THE currents In
iodsys stock market were exceedingly con
rus ns and irregular and the contest between
spe ulat.ve forces was by no means con
elusive There was very large amount OF
speculative liquidation accomplished and
there were periods Of acute and general
weakness. Some Of the recently prcm,nen.
stocks in the advance suffered setbacks
( On the other hand, there were stocks whose
strength was constant In varying degree
/ Throughout, the session. Tue selling move
men, showed symptoms OF having largely
expended Itself during the course OF the day
1 and there were signs OF renewed aggressive
ness on ne part Of the bull interests and
the market rallied throughout rom the mid
day low level New stocks came into the
leadership and there We're Indications that
the personality Of the leaders OF the specu
lauons nad also undergone scne cnange
! TIE brokers who were the largest sellers
III the railway list were heavy buyers Of
some OF the STEEL stocks and il WAS evident
that an attempt was 70 be made 10 conduct a
double campaign in the MARKET on the bear
size N some or the railways and bull SIDE
IN the steel stocks.
The marke closed in fact with notable ad-
vances scored In the steel groups with re-
newed weakness among the railroads and
specialt.es. some OF the later two classes
selling at the loves on the last sales. There
were po-n.s Of strength during the day In the
railway list and amongst quite a number
oil the stocks not usually Onspicuous IN the
iradns The Er.es mad a no able recovery
rem early weakness, the first preferred get
ting 2$s above Saturday. The Southwestern
srouEg showed signs of strength and st.
Louis Southwestern preferred got a point
above Saturday at one time Cleveland. Gin
cinnai. Chicago and St. Louis stocks ros,,
and ga respectively for the common and
preferred. Tho National Salt stocks gained
1 : aud 2A respectively and Lead preferred re-
covered points of its recent heavy decline
American Tobacco was 2h points oyer Satur.
day at the highest. But these points oil
, strength were the exceptions in the marke
although they had an effect In rallyng othel
! stocks and in largely reducing the average
net losses
l'he market gave unmistskable evidence
OF decline In the speculative furore and
i, disposition to t~yerse the more sangune es
for many stocks and those expected TO
others. Disappoin nent was keenly mani
!. rested among the holders of st. Paul owe
> the failure Of confrmation of ghe man,
stories of a lease TO Northern Pacific nov
pretty thoroughly d!scredited The stock wa
forced at one time below 1870. which was 70
IS below Saturday aud closed with a net loss Q
n "a The o;her grangers were weak apparent
:. y in sympathy. The local traction stock
reapsed sharply after the buoyant move
nent o, saturday and Manhattan close
weak at the lowest after the midday rail-
Y at net loss OF 3ss.
l. Al one time the majority Of the act!y
l. stocks in the list were from 1 to over
:; points below Saturday
n No admissions could be secured from in
terested banking houses Of any complete
arrangements to snip gold but with sterlin
exchange containing to advance reserves
10 money rapidly increasing al his center an
continued uneasiness over the future in Lon
) don, the conviction is general that cor
,r SIDERABLE sum of money Will so out an
Is that tie movement VIII be laugurhted g
90 Wednesday, There . no tear that al
S scarcity CT money here will result but u
Il movement creates some inevitable d.squ"
ID among over extended speculative interests.
ID The railroad bond market was weak
Id sympsthy with stocks. Total sales par valu
l., s. Sac 900.