New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1897-05-14

Thursday. Nav I'D. N

Stock Exchange traders assumed a grave and
serious attitude upon Cuban affairs to-day on
account of dispatches from Washington which
apparently were interpreted to the effect that
the relations between this country and Spain
were likely to become strained by reason OF a
possible Intervention by the United States in
Cuba On the receipt of these dispatches room
traders made haste to get short of the market,
an increased borrowing demand for stocks at
the close indicating an expansion Of the short
interest. The selling in the afternoon was gen.
eral throughout the list. but in small proper
lions. and. as there was no outside interest In
the market. reflected nothing save the efforts Of
room traders to put themselves in a favorable
position FOR any possible adverse development.
in the Cuban situation. The Industrial. shares
yielded the most. Sugar Refining Consolidated
Gas. American Tobacco and United States
Leather preferred declining l per cent and
above, with slight recoveries. however, at the
close In the railroad shares losses as rule
were small fractions and outside Of Burlington,
St. Paul. Louisville and Nashville. Rock Island
and Reading. transactions were conducted on a
light volume. The reports current In the Street
from Washington as to the Administration and
Cuba were highly coored and altogether out Of
proportion to the actual state Of affairs. but
liquidation or induce legitimate holders Of Sc
curities to throw over their possessions.
Continued strength in the foreign markets and
further light buying for the foreign account were
not taken into consideration by room traders
as sufficient argument for higher prices here,
speculative attention being taken UP with the
d!stractng possibilities presented by the revival
or Cuban belligerency discussion In the Senate.
Inc encouraging showing made by the Manhat-
tan company in the March quarter reflected
In It's statement made public to-day. was neglect
ed, even by operators in Manhattan stock. but It.
attracted considerable attention in other quar-
tiers, however, by reason Of the Improvement
shown In the company's gross and net earnings,
and the influence OF the recent dividend reduc-
ton in making a surplus possible against def
cit in the same quarter last year. Gross earn
ings increased 1858, but an increase Of SOB
Ala In net earnings was accomplished by a
marked reduction In operating expenses by
economies which may not be favorably criticised.
II the recent dividend had not been reduced
there would have been deficit OF about So, OO0.
against $50 $50 in the same quarter last year: as
Il was there remained a surplus Of Sl2J, $50 The
Bank OF England went back to its = per cent
rate to-day, which prevailed for two years up TO
last fall, when the heavy gold exports were made
TO this country. In the weekly statements OF the
Bank Of England and the Bank of France for the
week ended to-day the last weeks heavy gold
movement from here was pretty well reflected
in the changes in specie items. An engagement
OF 81. 600 900 gold for export Saturday was made
to-day.
Prices for last sales Of the principal active
stocks today compared with the final figures
OF yesterday were as follows: