The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1901-04-25
HOUSTON DAILY POST THURSDAY MORNING. APRIL % 1901
HOLDING UP The MARKET.
Professionals Are Trying TO Prevent
Break in the List.
MANIPULATORS STRONGLY IN EVIDENCE
Everything Was Bought. but the Close
Was Weak and Attention Was Given
to Few Bull Stocks.

New York. April 2l.-Among the many
broken records which have been recorded
IN the present Wall street Speculation
must be included the scale aud character
OF professional manipulation for purely sen.
tiinental effect on tho speculative public az
large. No such fight against q prevailing
tendency In the market was ever before
witnessed on the New York stock exchange
ny that of today, Some 81 the lrrusng
operators In the recent speculation are
credited with the assertion that there Is
no amount ot stock which they Will not
obtain In order TO sustain the market Tor
the protection of their favorite stocks
Such statements nrc always received wi,h
grain of salt Yet todnys market gave
evidence OF hrmness and nggrcssivcncss IA
supporting prices by the eXprdivnt uf sim
ply buying everything thai was offered
lttces we're also bid NJ ln spite of ia
increasing weight OF the selling on the
huNance, The burden Of support seemed to
grow too heavy toward the latter part ot
the day, although the market had oocn
larry bought 10 stnndstlll after the
opening. IN the latter part OF the day.
however, The bull pool seemed to concen
trnte attention more OH the few stocks
Mhlch had been selected for almost aggrcs-
siye manipulation for sustaining effect on
prices generally and to impress the Pub.
lie MUD Union Pacinc was the most
conspicuous of these. but the speculation
aiso was very heavy In ST. Paul. Northern
Pacific and Southern Pacific aud Hurting
Ton, though not largely dealt In, for III
were Jealnusy supported. Tho total deal
lhgs w Union PRclhc reached nm uggrc.
gate OF 6d2s 500 shares. As the total issue
o. tue rompHny's capital amounts TO loss
than Nbu,WU shnres In common stock II Ia
evident that tddty's sales wodd have pcen
sufficient TO transfer the control of the
counpghy hdd they represented actual
Add the snles of Monday aud Tuesday with
those of today and we have a total Of M
100 shas's, which Is much more than the
total common stock Issues Ynt no hint
Is heard from any source that Union pn-
cihc Is changing hands IN fact there
was no fresh news nj all to account Tor
reached an extreme So. closing practically
~ the top. This ease Is typical Of the
intensely speculative character o the re-
cent enormous dealings IN the stock mar.
kct. although tpday'S business was even
more congcsted In few stocks than at
any time hitherto. In fact the general
TO the manipulation of "a. leaders nion
i'nclhc ut the beginning Of the last hour
OF Inc day WINS left alone In its upward
course, the selling having embraced prnc-
lically every other stock In the list When
Mon Facinc Itself gave way The SLUMP
OF prices became general throughout tnc
10 from 10 = points ana from | Ia .
points all through the general list. rms
uecilhc ohercd attractive profits to inc
traders aud when Union Pacific made IT'S
tnnl spurt the covering by the hears
caused some fcvcrlsh rallics, hut ihn cins
ing was Giraffe with new points ~ wcnk
ness developing. The action Of the mar.
het Is difficult to explain from amy nrws
uf the day and seemed to hc wholly auC
20 local causes. There are those WHO no
licNc that n very widespread footing cxIsts
that the speculation and tltc advincr In
prices have been overdouc ana thar thrrH
Is danger NJ q tight money market Mn en-
woulu force liquidation on an ovcratruiucI
market The disposition 10 draw In specu
latiN" lines and reduce commitments is
the outcome of this feeling. hut ii is ryi.
M combination Of speculative micrcsts
VINO hope to rcnew the speculative. Activlty
ma adNuncemrnt Union Pacific couvcrti. q
hlo bonds were the leaders Of tho nond
market AT nm extreme advance or tx rAe
marker otherwise was fairly active hut
the movement Of prices WAS Irregular
Iotal snlos, par value S6325, 900