New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1898-03-19
BONDS
THE DAYS OPERATIONS N STOCKS,

Stock market trading Yesterday VAS cohuuc'e'
upon A small volume Of business and upon
sargine price movement until the last hour'
when activity suddenly developed. with adVhnc-
,np values The late exhibition ~ strength was
due 70 two reports from Washington. one san
that The loss OF the Maine had been due 10 al
explosion within the ship. while the other ln"-
mated that way would he found to end the
Cuban uncertainty by a compromise on the par'
OF Spain and the United States. A sound basis
for Washington reports Is not necessary IN inc
current market. Traders cover or sell on
shadows and professional run1ors that lack the
first element Of truth.
In the. early dealings Senator Proctors speech
on tho condition Of affairs in Cuba tendea
further 10 restrict securities operations while
IL attracted new believers 10 the theory that
positive developments in the Presidents Fuoan
policy are near at hand. Traders we're not IN
clined 70 make large commitments on either sioe
OF the market. but the general course OF prices
reflected a gradual increase in the snort IN
terest Efforts we're made to cause rally on
,bA announcement Of the withdrawal Of two bat
tle-ships from Key West. and the stopping OF
the spanjsh notnla at tho Canares; but. mas
much as this action the part Of Spain and the
United states was no, looked upon as diplo-
small fractions
TIL. larger speculative interests were not ac-
tive and the market was allowed n seesaw
under the rapidly changing ideas Of hoardroom
traders In view Of The early advance. the
unwilljneress Of traders carry stocks over
Sunday. and the desire Of professional manipu-
,ators n make a serious drive against values
on every opportunity. sharp break in prices
may come TODAY especially If the morning s
news Is considered unfavor1ble. II rs hard
market 70 analyze and treacherous market
70 buy in The advice that conservative brok-
ers give &c 10 sell on every rally. Prominent in
,eras,s are not willing 10 deal heavily or 10 carry
ont nlans which they would put into operation
IN ordinary times because they are wise enough
10 know that serious Cuban news may come at
any minute II is absurd for anybody In Wall
Street to set time for Cuban developments.
The foreign markets indicate no acute fear
over this countrY's relation with Spain, but IN
the American department prizes show the same
uneasiness the part of operators as nouced
on the local exchange. Opinion in London fnan'
oial circles is not in favor OF heavy dealings in
American securities at present. especially as so
much gold has been withdrawn on mercantile
account. The ast-named factor, however may
disappear before long. for exchange rates at
this centre are showing hardening tendency,
while the fall in London discounts indicates the
belief in that city that further calls for the
metal are not probable.
British consols were higher indicating, per-
haps. a brighter outlook over the Eastern situa
ton, hut United States Government bonds and
Spanish per cents were lower London houses
bought a few stocks in this market. Local
transactions were confined in great part 10 the
speculative favorites, Sugar Refining. American
Tobacco. Burlington. ST. Paul. Manhattan. Met
ropolitan. Northern Pacific preferred and Union
Pacific preferred furnishing POI 900 shares out
of total in all Of 295G46 The close was at
about the best prices Of the dav.