The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1901-09-10
A REMARKABLE SHOWING
Stock Market Held Up We derfuIIy
Well Yesterday.
PLENTY MONEY 70 SUPPLY DEMANDS
Favorable Condition OF the President
Was the Most Potent Influence on
the Stock Exchange.

New York, September o.-'rhe number ol
shares OF stocks sold on the stock exchang,
during the FIVE hours OF today's session
was no greater than was sod during the
| two hours OF Saturdays session. This fact
In Itself would be indicative OF a marked
| subsistence Of the nervousness and feversh
ness which peryadcd the stock market on
Saturday. but the table OF recoyerles In
prices which resulted from the day
trading, makes really remarkable show.
ing OF the recuperative power Of the mar.
ket
The confident opinion of the president
physicians that he is on the way to safe
recovery Of his wounds was of course the
primary cause OF the buoyant rebound In
prices. The effect was shown not only
in New York, but In all the great security
markets of the world The secondary
cause was the comprehensive and effective
measures concerted for the protection and
support OF the market by the clearing house
banks and great hnanciers of the metropo-
lis The efect Of these measures was seen
In the success with which the call money
rate was depressed to a 6 per cent level.
Just what the measures taken were was
not disclosed hut the large sums Of money
In the hands OF the principal money hrok-
ers on the door Of the stock exchange to
ace In call loans at per cent suggested
that money was being supplied by q pow
eriu syndicate for the purpose. The clear.
Ing house committee was conveniently a.
hand all day to take any action that might
be demanded by an emergency. but there
was no formal session and no steps were
taken by them until after the close Of the
stock market, when dispatch was sent to
Secretary Gage, advising him Of the con-
mittecS view that some action by the
treasury department was incumbent for
the relief Of the money situation
The special circumstances which make
the operations of the treasury department
embarrassing TO the money lenders have
been too often stated to need special de-
Scription here, The enlarged surplus In
the government revenues by reason Of the
great decrease In the expenditures with
out corresponding decrease In the Income
Is taken daily from the open market and
from the circulation large sums of money
lust at the line when the movement of
the crops, Of the expanding fall require
mcnts are making the years largest dc
mands for money.
tary Of the treasury for the relief Of the
money market played its pat In tho days
strength OF the market before the action
of the committee was known. The ten
sion for the demand for money here was
shown also by the decline u eNrpnge on
other points, Both sterling aud cont
mental exchange fell sharply causing re
newed talk Of engagements OF gold for
import but none were announced Chicago
exchange on New York also rose TO Within
l0c Of par, but S25o,0O0 was deposited at
the subticRsury for Chicago aud $4,000 tor
New Orleans, In view Of these considero
lions, the collapse In the money rate late
IN the day is less convincing than it would
otherwise be. Its occurrence inter the de
mand Of the day had been largely salts
fed might have been due to manipulation.
The marsct closed strong at near the top
net gains for the principal active stocks
running from . to 1 points. and for st.
Paul 6l4. Thus large part of Saturdays
losses were retrieved.
Railroad bonds showed recovcrios also,
but IN much smaller degree than in stocks.
Total safes par value $2065,0O0