The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1901-06-07
THE ACTIVITY SUBSIDIZED.
A Let.Up in Speculation Made an I'm
preston on Prices.
LOSSES WERE LARGE IN SOME STOCKS
Market Was Ruled Largely BY Technical
Considerations, Closing Up Of Ac-
counts Contributed to Indifference.

New York. June 6-There was n decided
subsistence Of speculative activity in stocks
today with a resulting impression on
prices. Losses are quite large in some OF
the principal active stocks. which have
been recent favorites In the speculation.
The market was ruled very largely By
technical considerations. 1t developed
from the smaller volume of dealings, and
the lack Of support for prices that yes
terday's operations had resulted in the
elimination Of large short interest and
that the demand from this source to cover
short contracts had been taken advantage
Of by the bull contingent 10 realize profits
on heavy long lines Of stocks. This [itual
appetite and The usherng in Of the hot
season accentuated the indifference Of the
demand
There were rwmors current all day TINT
the covering 10y the bears yesterday had
been achieved at considerable cost and
more ur less uncaSiness was caused by
this fact The emphatic deuIals from Off
clal sources " a number of rumors which
have played part in the recent ball move
meui especially those bearing on conncc-
tlons and descriptions OF many Of the minor
railway systcius. was q somewhat depress.
ing factor Az influence IN the Same direc-
ton was the disclaimer on the part Of
the parties Interested Of the assumption
that the entrance to the Atchison dircc
tory Of member Of the w. of J. Pier.
punt Morgan * Co. was an indication II
Morgan holdings OF the stock with view
of establishing community Of Interest.
The net changes in stock give no adequate
idea Of the extent of the days price
ranges.
There was considerable show Of
strength at the opening partly due to the
influence OF London on account of tlc re
ductIou in the Eank Of England exchange
lHlc ana ON account or operations by u
rnterie ~ Americans now in London. The
reduction IN the bank rate is accepted as
thorough assurance over the future Of the
foreign money markets, MS London has
lnFg" future needs 10 meet ana owes large
sums TO Paris, which 1t Is important In
Keep tn the London market by the pay
ment of an attractive rate Of interest The
selling pressure, however made an end
Of the advances before the end of the
first hour The fcverlsh tone of Rork IL
land was . somewhat unsettng influence,
owing to the fears that Il corner may dc
yelop In that stock The issue Of Sl0uuO-
wv now stock Yesterday came as a total
sunrise to the street. There has been an
enormous accumulation Of the stock recent
~ aud the outstanding short interest is
known to br large. The reaction In the
stock, IN sympathy with the general mar
het qua NOT serve entirely to rcassWe
There we're Few points OF positive
strength which, however, had only Slight
.nhnence IN ouseitlng the general reacion.
AIRY tendency on the Incorporation OF the
new compuny ia New Jersey which Is
heheVrd 10 be for the purpose Of taking
oyer ana combining all the present coInpa
MES. American Tobacco rose an extreme
lH Continental Tobacco 3&t The preferred
'% aud American Snut Az Louisville
ana Nashville was consistently strong on
the ground Of lis comparative low price
ANA large earnings and advanced pl1 Mis-