Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1898-04-21
STOCKS STILL FIRM.
STOUT RESISTANCE TO DEPRESSION
REFLECTED FROM ABROAD.
LEVEL OF PRICES ABOVE TUESDAYS
Rumor That Time Allowed Spain
Has Been Extended to Monday
Provisions strong.
Provisions strong.

stock market offered a firm resistance all
day 10 the depression was reflected upon
il from every other exchange in the
world. it's declines at no time reaching
more than a fraction Of point in the
active stocks In the final hour after
trading on the foreign bourses had been
suspended for the day. a lively move
ment 10 buy developed on the New York
Exchange. which wiped out practically
all the earlier losses and lifted the level
Of prices sharply above that Of last night.
The final recovery was brought about by
the dissemination of runOr that the
period allowed Spain for a reply TO the
utimatum had been extended 10 Monday
with chance that a settlement would
be effected before that time. There We're
some evidences OF manipulation for the
purpose Of making last prices show gains.
4 broad view OF the financial world
shows that New York was less affected
by the crisis than any other financial
centre. At no time were prices depressed
TO the London parity. As consequence.
there was large arbitrage selling here
Of international stocks. New York prices
showing "a fair profit over London QUOTA
tons.
The depression in London and on the
Continental bourses was more due 20 the
panic i'm Spanish As than 10 any other one
cause These securities fell 81 in Lon
don and II i'm Paris. on forced liquida-
ton. due 10 financial difficulties I'm France
and Spain.
AMERICAN vs.. SPANISH CREDIT.
II is to be- observed that American se-
curtics have held fairly steady. AS com
pared with the marked weakness OF
Spanish securities.
Doubtless, part Of the selling i'm New
York for foreign account is due to an
effort TO equalize exchange conditions.
That these offerings should bee so well ab-
sorbed is u demonstration Of sound finan-
ci8l conditions existing I'M this country.
Call money loaned to-day - per cent.
although time money continues 10 be
firmly held az per cent.
The bond market was slightly more ac-
tive. and after early weakness showed
some recoyeries Total sales, $l.e25o03.
United States new Is. coupon, add
vanced ! II. and, do. registered. IL per
cent. i'm the bid price. Others were uu-
changed.
The total sales of stocks today were
2Gl5D shares. including Chicago. Burling-
ton and Quincy 292l1; Louisville and
Nashville. 6Slj: Manhattan. 1G6l; Metro
politan street Railway, $40; New York
Central. 1924. Northern Pacific, 5.I}S. do,
preferred. HIS: Rock Island, G'53; 81.
Paul. 32lSD: American Tobacco, 2JV3'i
Sugar NSlJ.
MONEY AND EXCHANGE.
? =. M.-Aloney ON call steady at 2~
21-2 per cent. last loan at 2 per cent;
prime mercantile paper, 5l-2H6 per cent.
Sterling exchange steady. with actual
/ businrss i'm bankers bills az SIS LA
| 4S3l-2 for demand and St'9 5-iHFiN Tor
| sixty days. posted rates, $50 l-2aFlSl
and SlSSaSiN II; commercial bllls,
| S47S 1-9u$4791-2.
silver certificates. 5G0561-2; bar silver
/ r.: Mexican dollars. - IT.
Government bonds strong; state bonds
| DUH; railroad bonds weak.
FOREIGN STOCK MARKETS.
| The Evening Posts London financial
/ c9blegram says: The feature I'm the stock
markets here to-day was the hatness III
/ foreign stocks. the Paris bourse being
utterly demoralized by the continued fan
/ I'm Spanish As. which closed 40 the low
| est q The weakness I'm COusOls caused
! th, notion of "a rise in the Bank of Eng
| land rate tomorrow. and ON this belief
| discount houses declined 90 work, and
/ AN such business was done az the bank
/ itself. which had the effect OF making
| the loan rates easier.
Americans We're almost unstable, bul
! there was mo- great pressure 10 sell. ana
a hear position. at least i'm -. Paul and
! Louisville. now undoubtedly exists. The
manner i'm which New York absorb-
/ stocks is much marvelled at. The mar
| kets here are now thoroughly close
reefed and prepared for war but The
Paris bourse will feel the blow severely
| As instaucmg how the market here }.
now looking ahead. it is common talk
! .hat war means the final defeat OF the
/ silver party i'm the United States.