The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1903-02-01
END OF THE WEEK
SHOWS LITTLE IMPROVEMENT.
ne Venezuelan Situation Hes Had a
deterrent Effect Upon Tradlne-rhs
Bank Statement Was Coed.

New York, January sl.-Tne stock market
was merely nominal snair today. Some
81 the traders who sold yesterday bought
70 cover ON the belief that there wos NO
Watilke threat In the Venezuelan situetion
ana that the labor dispute ON the Union
rncinc mad a less serious aspect this morn.
ing than was reported yesterday. There
was continued absorption OF Delaware ana
iiuuSon' which was explained as being due
10 reports OF very large earnings. The
extra dividend OF y OF l per cent on North.
erh Pacinc had not been forctold. but il
was without apparent eject on sentiment.
As Northern Securities Is practically the
| sole owner Of Northern Pacific aud Ms the
increase In the securities compHny's diyl.
dend already made was presumably based
on the Northern Pacific extra the episode
was allowed 10 pass without a ripple. IN.
tcrest eentered III the bank statement and
even more In the days clearing house ng.
NreS Inc latter disclosed that the bal
ances to be settled between the clearing
mouse institutions Tor tho day were the
largest in the history Of the clearing house,
reaching a total Of S24,577 $40. The heavier
individual debts and credits Of u eow OF
The largest banks In the association made
It seem evident that some financial trans.
actions OF great magnitude we're carried
through today. The subtreasury had a
large credit balance. due to the payment OF
a central Pacihc note due the government.
ne large loan expansion for the week was
attributed to the Pennsylvania loan. which
10 authui4tauNtlN stated to have been near.
! ~ Sf"Vu'oVU II Is generally believed
tuat a considerable portion OF the loan was
| taken by foreigners and was tuus a factor
| ia the tone OF exchange which deyeloped
| during the week. The redcposit with In,
pduks by the railroad company of the pro.
| tue supply Of funds which DEVELOPED YES.
| terdSy IN the money market. The ordinary
sPvculator nnds cause for hesitation about
operating IN the evidence of such financial
| requirements Us was furnished today by
| the bank statement and clearing house Il Z.
| ules- The market sold of after :hp bank
statement aud closed uull but about stendy.
All through the week there was little to
arouse the market from its letharIy. Its
| nS and starts We're due TO the eiSlrts oi
| protessional traders, who feel the market,
ana 10 anticipate any new movement that
might possibly develop There has been
| no outside response 10 these tactics and
/ every movement Of whatever proportions
! has scarcely lasted a day. Some real sus
| tanning force Tor values was the better
/ feeling as to the Venezuelan situation For
/ tho first time In several weeks the impress
| sion IN Wall street has been so strong that
! all parties to the trouble were anxious "a
| be wcll out OF It without any other motive
/ than the settlement Of claims as present
cd. The incident has had sentimental Cf
| feet IN financial circles rather deeper scat
/ cd than appeared on the surface. This
/ was partly due 10 the unpleasant memories
! Of the Venezuelan panic AT the time OF
! President ocvclaud's boundary message
! The mystery which attaches to the diplo
matte Initiative IN the matter and the sur
| prise occasinued by the common action OF
| Great Britain and Germany kept alive for
| some time q suspicion thar the movement
masked some far-rcaChlng policy designed
| 10 fest tho Monroe doctrine and thus neces
sariiy calculated 30 provoke war. Last
weeks market closed with the Venezuelan
question causing considerable anxiety. The
/ recovery on Monday therefore was quite
sharp The striking point for the trader,
to notice, however, was that there was nC