The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1901-03-02
IN THE STOCK MARKET.
Relaxation Of Pressure Against Steel
Stocks Helped Tone.
NATIONAL TUBE WAS MOST AFFECTED
Stocks OF Southwestern Railways Were
the Most Notable in the
Recovery.

New York March Pressure was re-
lnxed against the steel stocks in today's
market and they scored unequal recover
les. Probably this had ms much to do
with the better tone of the stock market
ms anything that could he cited. National
Tube was the most affected with a rally
of 3l2 aud Steel and Wire Is about .
points higher Other members Of the group
gained between / and points There was
2 marked decline in speculative Interest
IN this department of the stock market In
cldcnt to the completion of Inc process Of
adjustment of prices to the conditions
disclosed early in the week OF the
stec! merger. Gntil this condition IN tmc
steel stocks had been fairly disclosed there
was more or less heayiness In the general
market.
The realizing In st. Paul on the stou!,
privileges carried II down a point, but IL
WIS wen supported Mt that level and later
scored full recovery.
AFTER the turn in the market had set in
there were large buying movements de-
ae'oPed IN number Of individual stocks
of nilied groups OF stocks. This was most
notnble among the Gould Southwcstcrns,
including Missouri Pacific, the ST. Louis
southwestern the Missouri, Kansas aud
IcNas stocks and the Wabash issues The
extreme advances hero ran from ] TO 3,
the inter In Missouri Pacific and 2ls In
~ louis southwestern preferred. This
movement was apparently based on the
ihrgc earnings which are being reported
by the railways In that region. There
seems TO be a lingering belief also among
iIhnrfS IN old rumors of a Southwestern
combination. There was another nro-
nounCed movement in the roads which car
N nltnmInous coat to tide water. Penn
ana ohio and Norfolk and Western were
all largely bought and were sharply lifted
hy ms demand i was supposed in the
hoard room TO ho for account Of Pcnnsyl-
yhnin railway interests In extension OF the
holdings Of thar company in those roads
ROCK Island and the Chicago Great West.
err, stocks enjoyed period of strength,
ana me gas gronp. including Peoples Gns
Consolidated Gas and Brooklyn Union,
were advanced In concert
Ihorc was an active demand for Sugar
nll DAY al an extreme advance of Az There
were III addition good gains made hv n
number of stocks not usually prominent
IN me trading, such as the American LIN.
ESQ sie oll stock International Power, the
and the Texas Land Trust in witch tho
advances ranged from 10 points. Not
wlthsiandlng the advantage Of this very
s,ocia t sh9W of strength In spccdl
kcl remained quite apnthetlc and moved
oolF slneeishly upward in sympathy with
the general market.
IN spite of the late upward movement
In southern Pacific stocks on n large do.
mMnd' the closing was barely steady
nc CONTINUED cnsc Of the money market
u",rncIs from any apprehension over 10.
nl"II"W Dank statement which Is EXPECT
ga 10 show decline i'm cash reserve owing
I" tne absorption Of over SO, DOC, 600 by tba
suntrensury this week, Money stlI moves
toward New York from the interior al
though Now York exchange at Chicago has
ucclned to 3. The London money market
itSl9Ncd today with the release of funds
W. up ny month'end requirements and
Spouse. va :" "
Ihe bond market was moderately active
anu irregular sales par value, S3,3l5, 900.