The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1901-07-02
NO DEMAND FOR STOCKS.
Attempts TO Take Profits Melted
Prices Away Easily.
NEW STRIKE CAUSING APPREHENSION
Passing Of the Semi-Annual Settlement
Day Without Disaster Was Great
Relief to Spectators.

New York. July 1..-Expcctatlons Of high.
or prices for stocks. which were aroused
by the action Of the market during tho
latter part Of Last week, were moi realized
today. II Is no unusual thing Tor the eject
of July disbursements on the market 20 10
delayed sometimes for week or two. tho
looked for demand Tor relnvestment failing
to appear and the rate for money holding
comparatively nrm. These conditions held
today. although there was some relaxation
In the call money market There were.
however, number Of more or loss dis
tnrblng factors which discouraged buying
and when last weeks buyers ATTEMPTED "a
take their profits they met no demand 70
absorb their offerings aud prices melted
away easily on a small volume OF business
The tone uf the foreign markets was
quite cheerful and the occasion Of some
opening advances here. The passage of the
semi-annual settlement day at Berlin with
out hitch was great relief 10 All the
foreign markets, and heavy disbursements
OF government interest Ia London mnde
money steady aud discounts easy there
but the market here had to face the action
Of the Amalggmated Association OF IRON
ana steel workers in lnauguratnc \ strfLp
"a the steel trade. Officers OF inc Iinited
Hiit t,Io Stees corporation professcd 70 he
iecls were manifest upan the price ~ rho
coinpanys stock nevertheless The indie
EynIiHtee9R steer steer companies were also weak.
ferred, lost ia and Colorado Fuel and Zen
ntssee Coal about 2 each. The expected
dividend action on United States Steel 70.
morrow was also factor IN the situation,
the bears striving to discredif rum0rs that
the common stock could be placed on a I
pei cent dividend basis
% From
drouth In Missouri. Kansas and Texas espe.
eiaily depressed the concentrating grangcrs,
last weeks strength. The decline reached
3,a In 81. Paul In Rock Island, ~ in
Illinois Illinois Central 2A n union Pacific aud
The hand OF the bears was manifest In
the circulation of some aarmlst rumors
carly In the day to the effect that the
clearing house committee was In UonsutA.
ton over the Affairs Of some OF the clear
Ing house Institutions. There was certain.
~ no such consultation. and there were
emphatic denals OF any thought or inteu-
tion for necessity of such consultation.
hut the effect produced by the runors
showed that last weeks failures have left
state.
There is good ground for the suppositlon
that last weeks episodes have prompted
some oyerhauling Of collateral for bank
loans and has induced rather stringent
caution on the part OF the banks Ia the
certihcation OF checks. II must follow that
business by stock exchange houses Is con
dncted with somewhat less facility than
when the minister OF credit was entirely
untrammeled. There Is nothing to show
TINT any further ground exists for the ru'
mOrs circulated OF financial troubles. The
fierce heat had It's effect on the trading
as It had on all other kinds OF human a.
ilyity. There was considerable strength In
tho Iowa Central stocks Most Of the ac-
live stocks we're OF point or more during
the day, and the closing was heavy and
dull.
There was little doing In railroad bonds,
hut prices yielded in sympathy with stocks
Total Gales par value S1.So0.OO0