The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1901-09-19
THE RECOVERY OF STOCKS.
Sudden Weakness of Tuesday Over.
come by Developments Yesterday.
WERE STRONG BUYING MOVEMENTS
Prices of All Stocks Were Notably Buoy
ant, but the Buying Was Without Any
Specific News to Explain II.

New York, September ls.-People who ar.
gued that the sudden weakness that de.
veloped In the stock market yesterday ar
ternoon after the early show OF strength
was due to the frost scare In the corn
belt found confirmation for their views
in the recovery OF the stock market today
simultaneously with the reaction In corn.
The loss Of all of yesterdays rise In the
price OF corn showed an eagerness to real
lie on long lines that took the edge or the
apprehension regarding the reported further
damage TO the crop. The effect OF this
development was naturally most pro.
nounced in the stocks Of the Heat West
ern railroads whose traffic is largely In
corn, namely, the srangers and Pacldcs,
Including Atchison and Missouri Pacific.
But there was no reason why the de,
velopments I'm the corn market should have
sympathetic effect on railroads In South
ern territory, those carrying anthracite aud
hituminous coal and the net work OF Cen
trail traffic and minor Eastern trunk lines
which are usually designated as junior
Nanderbilts. Prices Of all OF these stocks
were notably huoyant and tho buying OF
them was on Il scale which could only he
FOR the account OF the largest of the local
interests. Buying was without any specific
news to explain II. II was attributed TO
the same sources as that which constituted
the determined support Of the market all
through the recent crisis. The public In
wall street was strong In the conviction
That what are called the Vanderbilt Nor.
gan, Gould, Rockefeller and Hartman in
terests were all buyers on a very large
scale of the various stocks In which they
are Interested. Spectators and profession.
al operators exhausted their best powers
Of conjecture In striving to discover the
motive of this buying.
AS there was no acute pressure of llqul.
dalton, the mere purpose to support the
market was not sufficient explanation as
1t was on last Friday and on Monday.
lhetc Nua considerable cross t.adlnr early
In the day which had the appearance of an
EFFORT 10 confuse sentiment, brokers usual
" acting for large capitalists making very
large trades ON both sides u tue market
ana almost simultaneously The resultant
weakness Of Amalganlated Copper which
iell another Y point today Gun further con
fused sentiment When TINT stock made
vigorous rally Of 2%, the eicct of the
buying elsewhere became emphasized and
prices rose huoyantly throughout the list
10 the top level " the day, southern Rail.
way was easily the feature ANA nearly all
the transactions In the stock during the
last hour were In 1000-shHre lots The
price rose lQ2 points and the additional
] to points, The Vanderbilt group. IN
GLIDING New York Central the New York,
Chicago and St Louis stocks and Lake
Erie and Western rose from ~ TO rs. Civ
Ing rise to confident predictions Of an early
announcement of a comprehensive plan ot
merger for MI the Vanderbiits The rise
Of Az in Sugar was duo 10 the stock sub.
scription rights declared by the StockhoId.
ers today.
Conditions In the money market were
tranquil under the influence of continued
money market The banks have gained
during the week from thar institution SILL.
54s,000 The easing effect Of this replen-
isla.cnt served 10 further stcaiy fosrgn
exchange rates and deferred engagements
for gold Imports, while tue exrlang, at
Chicago fen bpck to 20 cents discount com
pared with 10 cents discount yesterday aud
par on Friday,
Speculative bonds were active md strong,
hut there was some irregularty among
less active issues, Total saics, par value,
$2,U!5oO.
Stocks