The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1901-07-11
A VERY UNEASY FEELING.
Future of Money Market Is Worrying
Stock Spectators.
LIQUIDATION FROM ALL QUARTERS
Confidence and Strength OF Tuesday
Wholly Lost Yesterday and Several
Stocks Declined Preoiptately.

New York. July 10 with call loan rates
yielding to a lower figure IL was nevcrthe-
less apparent today that uneasiness over
the future Of the money market was the
principal cause Of the renewed weakness
in stocks. Anxiety on this point was some
what relieved yesterday by the Indications
that the July disbursements were beginning
to come again into the market, but II
was revived today by the engagement for
exports Of $4,000 in gold
Liquidation was In large volume during
the latter part OF the day and seemed TO
come from all quarters. The active sell,
ing by commission houses reflected the
outside public's share in the movement.
The large part Of the dealings aud the
most notable price movements were 10 the
same stocks as for several DAYS past. nota-
bly, ST Paul Rock Island Atchlson. Union
Pacific, Missouri Pacific and Louisville and
Nashville, but the list was very generally
affected. the Eastern trunk lines sharing
quite fully In the days weakness.
Indications went to show that spcculn
tive buyers on the recent past. amt even
long time holders who refused TO be shaken
out even by tho May panic, were among
the sellers The growing conviction that
there would he sufficient ease Of money
before the fall demand for the moving OF
crops 70 incte to active speculation was
borne In upon spectators who were hold
ing large lots In anticipation OF mldsum-
mer buying movement and they threw over
stocks In large volume under the coEvic,
ton that money conditions might he worse
before they are better again, The gold
export was the most Important factor In
causing this feeling. The fact that interior
hanks are already feeling the demand FOR
money from the agricultural centers Is nm
indication that demand on New York viii
come unusually carly this year, possible
source OF relief was by Imports Of gold
from abroad and foreign money markets
have calculated upon supplying gold for
such movements. An outward movement
Of gold after the July settlement abroad
and with exchange bills against future
shipments OF grain which. are already In
Ret comes as a shock
Probably the unsettled conditions In
Germany explain the movement which
must he a special one, although the plans
Of the Austro Hungary governments 10 nt-
tract gold for current purposes may have
Its part The announcement Of the en-.
eagement found the market well above last
nights level MS consequence or yestcr.
days recovery. but a reaction set In at
once aud was continued IN increasing
volume until the close, which WIS active
md weak AT about the lowest Tho net
declines In the market leaders reached
such figures rs the following, q Took Island
hit. Missouri Pacific AZ, Kansas and Texas
preferred AZ, Louisville and Nashville Az,
Iowa Central ., Iowa Central preferred
7ls Chicago and Eastern Illinois &.
In other prominent active stocks. incud.
Ing some NJ the Eastern trunk lines and
leading securities. prices are between ~
and points lower on tho day The stocks
average about points lower The un-
broken drouth In the corn belt and an rf-
fort 20 discount the expected uufavoruble
showing ~ the governments monthly crop
report were elements H. tho weakness ~
the market, hut were not sufficient to ac.
count for the general weakness shown.
me rallroad BOND market WAS fairly
value, S3095, 900.