The times. [volume] (Richmond, Va.) 1890-1903, 1898-04-23
SHARP ADVANCES
ALL AROUND.
The Market Was Highly Speculative
Until the Close.
COMMERCIAL PAPER WAS FIRM.
eau Money Easy TO DC Obtained at
= 1-2-Sanguinc Expectations That
the War VIII BE Short Greatly
Improved Conditions.

NEW YORK. April 22.-when New
York operators in securities got down 10
Wall street this morning they found ca
bled reports from London indicating
somewhat fcverish activity in the specu-
lation in Americans. with a tendency TO
rebound from yesterdays depression. Ca
bled inquiries from the other side indi-
Gated an eager anXiousness there 10 know
what action Wall street Will take. IhiS
is sufficient 10 admOnlsh the bears VINO
sold in yesterdays slump TO cover their
contracts. The covering Of the shorts
was coupled with some buying for London
account. The result was very sharp adj
Nanccs al around. There was only q
slight reaction az the close. The market
was highly speculative all day. In the
railroad list the grangers ana the inter-
nationals led I'm the trading. The condl-
ton OF the worlds money market had a
salient encct on security markets, al
though rates for time money and CONNER
Cial paper remained firm. Call money
was 90 be had at ~. The resultant rehet
oi the London market from the pr9ss1fe
FOR gold. accompanied by rise In Berlin
exchange on London, gave promise or
easier money there. and relieved tha~slt-
uRtion in Paris as we'll The result was
"a cessation OF the heavy liquidation Tor
Paris account The selling of American
securities which had been large Tor Doth
Paris and London account, was checked;
These improved conditions were reflected
There were beside sanguine expectations
that the war would DE short. or that the
Pope would still prevail upon Spain 10
abandon Cuba.
The bond market was not ac active as
that for stocks. and prices held only about
steady Total sales. $50. 600. lnlted
states new AS. registered, declined q; do.
coupon H. and the old As. registered, =
Boo The bid price. Others unchanged.
The total sales Of stocks to-day were
~ so shares. including Chicago. Burllng-
tom and quincy 81, go; LoulsVlle anu
Nashville J.35S. Manhattan, 1,lJO; North
eru Pacific. $50: Union Pacific preferred,
d. 42p. 81. Paul. IS 500. American Tobacco,
5l TO-. Peoples Gas. 9.2v2; Sugar, $1,000.
The Evening Posts London financial
cahiegram says. The stock markets open
cd Nat to-day on war conditions ana then
recovered. Spanish As and Americans LED
iu the recovery. but both closed undef the
best. As indicated I'm previous dispatches,
the condition of the London markets iav-
ors staguatiOn rather than heavy selling
as a result Of the war, but, on the other
hand. no immediate recovery ls now cN-
uected. but instead "A gradual dWlndlng or
prices Gold is in less demand for New
York 40 as. lO&d, but eagles left the
Bank Of England to-day The Parls
Bourse was distinctly better on the Lon
don lead but the financial outlook there
SIS gloomy Whether France viii assist
spain financially is much discussed.
MONEY AND EXCHANGE.-Mone on
call steady al 202i2 per ceA.; last loan
At y per cent. prime mercantile paper
az per cent. Sterling exchange urm
with actual business i'm bankers bills at
4s3ieH4S3A TO- demand. and az 4NA 80
fo- sixty days. posted rates 4SO'gd4ol
and 4Sfa4Siis. commercial bills. 479p4I9'4.
silver certificates. jJA0j6l4. bar silver,
500. Mexican dollars. A.. Government
bonds weak. State bonds dull; railroad
bonds steady.
BANK CLEARINGS.-Tota bank clear
ings in the United States for the week
were Sf113Og} 1S6. per cent. increase
1914 Exclusive of New York. sac O24.4OO;
Der cent increase. Sl5@