The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1898-04-03

ington OF some favorable turn III the
prospect of affairs.
This development or vancouver was
not lost upon the. bears 1t is not i'm
probable, also that some of the buying
was due to that class of investors who
come into the market to buy stocks ut
a low range of prices for the actual re
turn in yearly income. London further
more was Il buyer to some extent here,
in spite of the significant weakness o.
Spanish fours on foreign exchanges.
Badly stated, it seems remarkable
that there should be q sharp net add
vance i'm the prices of securities on the
Stock Exchange in the week which wit
messed the publication of the report of
the Maine Board of Inquiry and the
APPARENT abandonment of diplomatic ne
gotiationS looking TO the conservation
of peace with Spain. The fact is that
prices are from ! to points higher
in all of the principal stocks that make
up the bulk of the business on the Stock
Exchange. This IS due in part TO tech
nical conditions in the market. Not for
years has there been seen so violent an
advance i'll prices as in Mondays bear
panic. The bulge in prices seemed to
have been designed originally by some
of the large bear operators themselves
with the purpose of shaking off some
of their undesirable following by fore
ing them to cover their contracts and
thus leave the way open to further
decline. The big bears were supposed
to have been caught in their own trap
and it was generally believed Monday
night that the short interest had been
practically eliminated from the market.
I Il A,AY0ih- an
nesday showed that there was still a
large outstanding short interest and the
belief prevailed at the end of the week
that this short interest was still large
The persistentp sensitiveness of the
market TO the faintest suggestion of n
peaceful adjustment of the Cuban ques-
ton goes to confirm the belief. Aside
from this question the business condl-
tions are felt to be stronger than for
many years.
The demands on New York from
other domestic centres for money show
a marked increase and that the losses
in currency in the latter part of the
week are probably not adequately re-
fected in banks returns.
Estimates and opinions vary widely
as to how far the imports of gold. which
now amount to over $40,000000 from
Europe, have been drawn against-current
grain and cotton bills and how much Oh
the accumulated exchange against Eu
rope still remains in New York as colat
eral for loans. That there is still libe
raj supply of exchange to be Gqutdated
is generally believed. Large banking
and financial interests in Wall Street are
believed to be in substantial accord re-
garding the course to be pursued to in
sure the greatest safety and stability
in the event of the shock of war.
Bonds have moved in sympathy with
stocks. but have not been active. Prices
are TO 3 per cent higher in exceptional
cases 5 to 6 per cent.
Government bonds have weakened in
the latter part of the week but they
show net advances over last Saturday
amounting to 23s i'm the new As coupon,
2 in the new is registered one in the
old As coupon and y in the IS and
ends.
The total sales of stocks were 21T,-
800 shares. including C. b. IL O., 81
$40; l.. & n. 5.240: Manhattan l., 15,-
$50: Metropolitan Street Railway. H.
300: New York Central, 6,4S0: Northern
Pacific preferred. S,765: st. Paul. 81
TO: Union Pacific preferred, 20,045; L.
p. d. & G., 6,150; American Tobacco,
7.o15; Peoples Gas, $3.50; Sugar, So
SO.