The herald., 1896-03-29
TIE Markets BY TELEGRAPH
QUOTATIONS ON STOCKS, BONDS, MONEY,
PRODUCE AND MINING SHARES
A Roundup Of Short Bear Contractors consti.
tute the Days Business-Deallngs Small
and Holders Of Leading Stocks Evince a
Disposition to Hold On

New YORK, March 2S.-The local stock
market today moved more independently
of English influence than for some time
past, the roundup short contracts by the
bears being the principal motive for the
dealings. Sugar rose Il, but lost the frac-
ton eventually. In railroad shares frac-
tional gains we're distributed, with Union
Pacific displaying ripple of activity. The
market closed fairly active with prices
about the highest. The stock movement
Tor the week has been OF professional
day-to-day character, with prices gravitat-
ing towards lower level. A noteworthy
fact, however, is the indisposition of own
ers of the leading shares to part with them.
The speculation has been shaped chiefly
by two factors of special importance.
neither of which, however, are entirely
new: The rapidly succeeding political
conditions in Europe and interest in
Cuban deliberations at Washington
have caused steady dribble of foreign
held American securities on this market.
The character of some securities thus far
awarded would appear to indicate that the
foreigners have been pretty we'll baled out.
been continued apprehension of revival
Of exports of gold to Europe. In view of
the unprecedented large treasury holdings
of gold, it would appear that fair credible
amount could be shipped to Europe with
out serious consequences. The real unfa-
would be upon sentiment and contrary to
the popular impression-it is sentiment
rather than reason that frequently &C.
tuates Wall street. As is we'll known the
treasury department. intends to use all the
legitimate means in safeguarding it's gold
i'll sterling rates to within .one.quarter
of cent of the shipping
point, second call of about 20 per cent OF
their holdings of government gold is eX-
pected to be made on the depository banks
in the near future and probably within
day or two. The treasury is understood to
have also under consideration & further
advance OF lie per cent in the premium
on gold bars. following up the advance of
1-16 ordered this week. The point was
overlooked that the treasury would have
to disburse on April lst about S5 500, 900
in interest on the old 4 per cent loan. The
distribution of this amount would cause
undoubted ease in the money market and
in the end tend to stiffen exchange and
thus defeat the plans of the administra-
ton. The logical way out of the difficulty
is to take from the depository banks with
one hand. while with the other the treas
ury meets it's interest obligation. Uncon.
frmed rumors at the close of business
were that two leading exchange houses were
figuring upon shipments of gold by the
early steamer this week aKgregating ST.
100000. The general speculation lacked
important features. The industrials
chiefly occupied professional dealers. The
developments affecting the railroad list
were of routine character. Railroad
earnings were in the main satisfactory.
The most important net change for the
week is net gain of a. per cent in to.
bacco. The aggregate sales were sos, 1903
shares. Today's bond market was dull
and firm. but otherwise featureless. Sales
we're $497 900. On the week the market
was irregular with an easy tendency. The
net concessions in the speculative issues
were light, but there were some material
declines in some of the inactive mortgages.
Governments were easier today on sales of
$4,000. The week market was firm on
dealings of 100000.