The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1901-09-08
PANIC BARELY AYERTED.
dominating Influences In the Stock
Market Were Conservative.
GENERAL EXCITEMENT WAS RESISTED
Prices Declined Considerably on All
Issues, but the Greatest Losses Were
Sustained by the Active Shares.

New York, September THE shooting
down Of the president at Buffalo Yesterday
upset the stock market completely today
Had Il not been for several mitigating cir.
cumstances. It was easy to see that there
might have resulted a disaster to values Of
securities AS It was severe losses were IN
hicted by the decline In prices and the
feyerlsh and htful closing OF the two
hours market left OF unsettled This lin
tied two hours of trading as a consequence
of the Saturday half holiday was one OF
the mitigating circumstances In the sltua-
tion,
The maximum period allowed for prcnarn-
tion by the occurrence OF the tragedy only
shortly after the close OF Yesterdays mar.
ket and the added interval due to the clos
Ing of the London stock exchange today
we're hailed with some degree Of relief by
the financial world
The great powers IN the financial world
got to work shortly after the Jews was
received yesterday and have been in con
sultatlon and making active efforts ever
since. The committee of the New York
clearing house assembled this morning he.
fore the opening of the stock exchange
and had with them In consultation the
great bankers and capitalists Of the mctrop
oils, Assurances were given that the banks
were as one in their readiness to meet the
situation and protect each other 1t was
predicted with confidence that no solvent
aud responsible borrower should lack
credits TO meet his needs.
rms attitude and the fact that the com.
mittec almost Immediately adjourned had
marked effect In creating confidence. The
lrSt heavy selling of spots was therefore
absorbed and the severe opening declines
running from 70 over points were quick
lv diminished There seemed to he n feel
Ing that II was safe to withdraw some
support from the market and not to at.
tendency, which was fully warranted by
the actual situation
The Withdrawal Of this support found
me market vulnerable again and when
the severe inroads upon the surplus &c
serves were disclosed by the bank state
ment came. a renewal OF acute uneasiness
over the money situation. II was felt to
he beyond question that the banks were
cncroaching upon their legal reserve, the
reserve being designed in fact to meet
such crisis But future curtailment OF
credits In recuperation of the reserve Is
thereby made necessary.
As a measure of the sentiment caused
by the attempted assassination of the prCsl-
dent, the days movements of prices was to
some extent modified also by the news of
the encouraging condition of the distn-
gnlShed sufferer this morning With the
crisis still to he faced Of the secondary
effects of, his injury the disposition to an
ticipste further declines in prices grew
toward the close of the market The days
losses were too general to need specihca-
| tlon. but the grangers, PlclncS South
Westerns COalers, Amaigamatcd Copper
and like stocks which have been She sub
jects Of recent speculations were naturally
the seyerest sufferers st. Paul leading the
active list with an extreme decline OF ~
and a net loss OF SH.
The outlook in the money market has
grown more dubious this week and this
FACTOR has dominated the speculation IN
the stock market up TO today. There has
been no severe strngency in the money
market but rates have advanced apprecil-
| bly,. The declining tendency of prices has
In an effort to discount the pnfarorable
effects Of tighter money yates IN lie fu-
ture The movement or rurrenGy 70 the
interior during the week has proceeded
| freely In financial and banking circles It
is generally admitted in splte of spccula-
tive arguments that the relief requisite Ia
avoid strpgencv in the money market thi.
fall must he looked for to foreign markets
| ~ gold imports
The course Of foreign exchange has given
promise all week OF an early movement
Of gold to New York But the problem
| how far such movement will be allowed
90 cXlncd Is still uncertain. notwithstand-
ing large stocks of gold I'm European banks.
The government Of Austria Hungary has
been a persistent buyer Of gold and this
demand seems TO have come as "A surprise
@ the money markets
Railroad bonds have been dul In sym
patty with stocks, hut prices fuctuated
more narrowly.
Stocks.
Following are the sales OF stocks and
ca sing prices for the sew York stock mur.