The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1901-05-24
STOCK DEALINGS LIGHT.
Trading Turned Almost Wholly Over
to Professional Operators.
MOVEMENT IN ERIE STILL CONTINUED
Theory that Gould Southwestern Group
Was Seeking an Outlet to Atlantic
Found Its Advocates.

New York, May 23-Today's stock mar
ket offered very little that is worthy OF
any comment. Still further evidence was
given Of the abandonment Of the trading
to professional operators, most of them
OF that class known as room traders, who
operate for days turn and do not often
leave their account open over night The
saw movement of the market is the
natural consequence of this class Of opera
tons Prices are not likely to move in
one direction beyond the second day. Yes
tcrday's strength In the Erie stocks was
maintained this morning and helped the
market TO some advances, most conspicuous
in about the same stocks as those which
showed strength yesterday. The move
mcnt In Erie was the subject of much in
tcrost and conjecture as to its origin rang
ed from a belief that It was pure specula-
tion with manipulation by a pool TO the
opinion that a contest for control might be
involved. The theory that the Gould
Southwestern group of railways we're striv
ing for a trunk line outlet to the Atlantic
found its advocates This possibility was
in Itself disturbing to speculative senti-
mcnt as threatening to upset the status
quo In the trunk line territory Decllnes
Of 2N In New York Central and 2lt in fcnn-
sylvania gave some point of this appre,
hcnsion. For this reason the strength OF
Eric had begun to lose its strength before
that stock itself yielded 10 the later weak.
ness Of the market The absorption ot
the advance was very heavN' docks Oh Iw1V
to 5000 shares appearing on the tape
Union Pacific was the FIRST stock TO SHOW
notable weakness. possibly due 10 tne iact
that the governing committee OF the st@ ,cG
exchange at Yesterdays meeting retralnfh
from action on the Application OF the com
pam TO list 500 100000 Of Convcrtihle
bonds London was an active seller during
the day. The lesson of the, Northern fae
cihc corner was shown in the timility or
aTtrage brokers about going short OF STOCK
even on arhirage account wncre pua[,
against the sale here Northern Pacific
sold up 10 POS during the day. The de
ouiremcnts Of London shorts. The Lon
don stock exchange Is reported to have
decided today not to reconsider is decision
suspcnding the rule for buying tn ?, OF
tho movement Of stocks hero Indicated that
tho London shorts had received some mote
4 waning to prepare f2 Or vo sgltrmG T1
ciic has not lost It's power to disquiet and
WIS disturbing factor today r,,
rhe statement Of the r,n bank Of E I6n5an
market lifted the sterling exchange rate
TO higher level The sharp advance In
sterling in Paris in9lcatGd ne relief tn ere
Russian loan and suggested cessation OF
pressure for gold. Exchange experts, now.
ever ,helieye that more gold viii 90 out
The final selling movement In the stock
market carried prices down from to !
points. The weakness vas Sc seNereSi IN inc me
and some of the important specialties. Inc
United States steel stocks shared in the
The bond market became irregular with
tie development of weakness in stock.
Total sales, par value, $3,635.oo.