The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1901-11-03
HARDENED UP AT THE CGosf
ON SEVERAL LARGE ORDERS
The Selma Before the Appearance OF
the Bank Statement Had Beer Con-
siderable. Wipina Out Gains.

New York, November 2.-The stock mar
ket was FpoTy and irregular today, but
made firm closing az about the best, gen
orally. after the appearance OF the weekly
banking statement Very large orders were
placed in various stocks 10 effect the rally.
The selling before me bank settlement was
considerable and the gains earlier had been
pretty well wiped out
Union Pacihc was most prominent in the
rally and was marked up 10 1881 through
many offerings OF several thousa nd share
blocks each. The Southern Railway stocks,
Baltimore and OHIO. Amalgamated Copper
and United States Steel preferred also ran
strongly. the last named rising 8 point over
last nigAt ST. Paul was notably heavy and
rallied, but feebly, dropping back to the
lowest NJ the day Just at the close. The
general movement was narrow. but some
less important stocks moved widely. PEG
pies Gas was sharply depressed. There
was strength In Illinois Central and the
81. Louis and San Francisco stocks It
was hoped that the gold stocks, coming late
in the week, would not figure for the full
nmopnt 10 the bank statement under the
average system. But the cash drop proved
20 be a million aud a half IN excess Of the
estimates. The loan item showed tho pro
cess Of loan expansion By tina banks still
heavy 10 force.
The London money market Ehowed relief
by Reimbursement OF November dividends
ana sterling at Paris recovered q fraction.
Further gold exports from New York next
week were counted as practical certainty.
nhe strong rally in Union Pacific at the
close was accompanied by rumors that q
statement Of the terms Of the Northern
Paclhc settlement was q possibility before
trading was resumed on Monday.
Prices Of stocks have drifted uncertain
iy during the whole OF the past week,
with no consistent movement defined al
any time. The conflicting eddies Of The
pool OF speculation have been due 10 move
ments OF Individual stocks under the ln
huence Of special cause The prevailing
suppression among market observers ha,
been one Of dullness near tho low record
Opinions continue to vary as 70 what viii
be the ultimate direction OF values wher
speculation issues from its present dorman
eld heeltating condition.
me abiitg OF the foreign markets I,
cpMinNn1 gold from New York la face o
nrafy trade balance Ia our favor Tor man
Mgntls now seen 70 be the enormous
ret1ln VI foreign securities TO the domesti
nolaefs ANA 70 large borrowings for eOntro
81 toe Northern Pacific and the organiza
don Of the United States eteei corDoratlon
The prolongatlon Of the Boer war keep
Enfspe, haut "a from its customary sourc
81 Bpid supply while the continued pro
anction ~ mis- eountsy makes It the mos
asLlaple source Of supply. Industrial de
preston 10 Germany and Russia nave Ia
vowed heavy losses
Ihe repewal. o. bond purchases BIZ Ii
seqressIy 81 tae treseaFy sniy partly :,
heyed me arprehension Of the distdylln
eneek upon the fnsuey market Of the on
az dQmestte trade Mtuaden coatlnne faxe,
male " tAs ssioms u kssh siesri1r