The age-herald., 1898-03-09
In W all Street.

New York, March 8-The tone of the stock market was much improved today as compared with that of yesterday, the ground for the greater confidence in values being the apparent desire of the Spanish government to depercate any idea that they desired a rupture with the United States on their own initiative or that they sough to drritate the United States gov ernment into assuming the offensive. The effect of this was most clearly defined in a sharp recovery in the price of Spanish As both in London and Paris. Americans were also much Steadier on the foreign exchanges but there was n0ahing in early quotations from tbNere to give foretaste of the sharp advances at the opening here. The market was quite aggressively strong during the whole earlier part of the day, but it is questionable whether this was due to amy large amount of buying Tor new accounts. That the short interest was largely increased yesterday was easily to be seen and shreiwd professional manfpu- lators were able to discern this morning that the market was in an overSold con dition. The better outlook in the re.atons between Spain and the United States made the shorts nervous and there was some thing of a scramble to cover at the open ing. The manipulation for the rise was designed to uncover bear margins and the keen demand at the advance proved the maneuver to have been successful. It dld not req iiire very large advance to anVite 
 prices fall almost to last nights points,
 Covering by belated shorts caused a slight stiffening again in the nnal uea- ings. Outside of the professional manpu- latdon there was little doing in the nNaraSel |; Some buying was received for London and Washington account. The continued move ment of gold, easier money, yesterday 5 furry being ended, a number or olVuueho announcements and the statement ufal ho bond issue would be made necessary py -s,tio, of ivy mi tional defense were all factors toward the more confident views of the stuauiodi, OperationS nevertheless, were pursueu with caution and a, disposition was appar- ent to adopt waiting policy. Net salls' except n a few of the specialues, Were confined to fractions. The prices of North- western railway stocks were rather coii- spicuously strong in spite or rne coipliii- uance of the trans-continental rate war;
 Bonds showed strength in sympathy wlth stocks, but resisted the late weakness III the market except Kansas Pacific consols' which lost all of the earlier adVance' amounting to nearly 2 points. Total sales, $3 340, ,000. y
 United tates fours registered were 4 lower alld coupon F lower bid today.
 Total sales of stocks today, S52, ,lOO shares' including Atchison, 35G0; do preferred, i'- 465; Chesapeake and Ohio. 3,425; Chicago' Burlington and Quincy, 26,S2O; LoulsVille and Nashville, S,320; Manhattan ltIto' Metropolitan, S,562; Reading, preferred, D. 1ee. New York Central 11,O50; Northern Pacific, Pa, s,72o Northern Pacific preferred ed 17,54O; Rock Island, s.s2S; St. Paul, Nlzo' Southern, preferred, 4o4S; Union Pacific, ~. m- 900; U P. D and G., 3,7OO; Tobacco, fooo, Chicago Cas- 5,SO5 Sugar 4912o; western Union, 4,35S. ,a.
 Money on call firm, 2aS per cent; last loan per cent
 Prime mercantile paper, 4@4la.
 Sterling exchange weak, with actual DUST ness in bankers bills at %.S4 TOT oeinahu and at s4s1A for sixty days
 Posted rates AS2IA6s4s3 and s4.S51s.
 Commercial bills, $4-S01a@$4.s1.
 Silver certificates, 54@s9
 Bar silver, 54B
 Mexican dollars, 44@.
 Government bonds weak.
 State bonds dull.
 Railroad bonds firm.