Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1898-04-10
STOCKS w AITING.
,,,r CHANGES HARDLY pERCEPTI-
ME IN MANY CASES.
B,yK STATEMENT UNFAVORABLE.
,,o,cmcnt Of Currency to Interior
apparcptIy Heavier Than Expect
.a-Mhrnt One Cent Higher for
,,o,-ProNisions Advance slightly.

>r-w YORK. April s.-Operators in
....ts maintained strictly waiting at
.....te to-day. The extreme variation IN
....,e reached point or over in good
...~, stocks. and the market took on
ammo show Of animation in the first hour
- 81. upward movement. but the purely
l...,aus character OF this advance was /
,,a,nstrated by a relapse in the second |
,..r The days net changes are hardly /
...-.~tbIe In many cases. and show an /
Eliminate mixture OF gains and /
....ss The market was without more |
,..-.r >ancc than that OF yesterday. The /
...., sales we're less than 10000 shares. !
-s, fact that the London Exchange |
ca closed left New York without ini- |
..t,vs from that quarter. London !
.-etors were apparently not eager 10
s,.u themselves Of the opportunity Of
,-.r,rc on the New York Exchange. and
,.s.~s by cables were OF small amount
.,,ych they were sufficient TO aid the
s-s, hours advance.
The bank statement was regarded as
,..lvora BILE. the movement Of currency
,. the interior having apparently been
-.-rier than expected. 1t was expected
,..t he imports of sold would about OFF
so the movement into the interior. APP
-.--rtly. some Of the gold has also been
described. 70 meet indirectly the demand
.t interior banks; that is TO say. IL has
ra., deposited at the Sub-Treasury in
Exchange for currency transferred from
Warrington Gold received by the days
--.lfners does not figure in the state
wut
Although the reserve requirement has
,rea reduced over 100000 by the heavy
decrease OF S22q99oo iu the deposits, the
surplus reserve is decreased 10y only
SIS, s,o the net loss I'm cash is &.1S4.@e9
and loans have been contracted 100000.
In spite Of the inactivity Of the market
further gold % the amount Of S5o,oO vas
engaged for import to-day.
THE WEEKS OPERATIONS.
Prices Of securities are generally higher
tran they were a week ago. The high
mi -as OF the week were made on We'd
rs-day afternoon, when the announce
u.rt came that President Mckinleys
message 10 Congress would be delayed
until Monday The first Interpretation Of
This action was that it BODIED further
Ya-p-iatious looking 20 a peaceful solu-
zion. Although the further negotiations
Hon. ID
-"'o ''o, 49,. - i.r5 This much
90. ~ 80 occo,nt for The firm
-.gs cf me market I'm the face of tbs
v-set,s threatening DEVELOPMENTS. and
tr4~a has been a disposition TO ascribe
some secret motive 10 the buying. popu-
Ierlv SUPPOSED 20 be on inside Information
from hich financial sources in Europe.
that Spain would be forced 20 rtcede NJ
the eleventh hour. But it must be sald
that the prevailing conviction I'D an
street has come 10 ne lhdI ".I "-.I
spain is no" h '..d",'' Gnu sum i''-
do not go mateIaIF l'"eI, .,... s.- .t.
Commission houses are ''-..5' ny t,,,,
s-"' Az, pay '.','. M r|ts condition
go tbs r~0faseioral hears from opera
lions on the short side ON the other
hand, Wednesdays bulge dtmoiis' La''"
that there is q supply OF STOCKS I'''E 10
oner OBJ any notable advance. Inc mar
ket is thus held in a sort OF siaDie tlU1''
brum hy orders 20 buy p.loW me present
level ana ORDERS 10 se'. "oolt ~. .,..-,.
Meantime the amount oI I""''7 H.. u
SIS invited Us very small Inc C'"'I 1-loI
Us uAaF9I1aui' Ol1l p''.'s CIV
level Of values for existing conditions
since those who hold stocks are not ahN-
.cus 20 soil. and those who seek them are
NOT willing 10 offer more for them than
prevailing prices. Prices fell continually
previous to the Maine report. In the ell
fort TO find the true level and 10 as
count the event and it's probable results.
j. is the inyariable rule that q prolonged
price movement oFel@h'o,9 'Ae MAJ nv u
resulting en- reaction. There can be no
more convincing demonstration or true
level Of values than stagnaton IN the
market There are varying opinions re-
rard,ng the effect Of the actual presen'a-
ton ~ the Presidents message 10 Con
rrat ON Monday. both as 20 the amouH'
~ liquidation Which VIII De prous"L Uut
and the volume OF short contracts which
VIII Dee covered.
RELIEF IN WAR.
,,,... ,..,,,.s ,r, mar ,s accurate.
iv rejected i'm the money markets. The
continued stiffness OF une-ino .i' i ia's.
and the dissemination 10 MN ,l'4.0 I-,
S. called sentimental as Lleiv - no &C.
az money I'M supply, notwithstanding II'
large demands for the purpose o
...-ugtbeuing their reserve. Money fol
-.a-e On call is comparatively easy 10 Sc
r
,r..r-i,7a the movement Of gold from
r..-,-. ts ,rabated. "a large part of th'
--..r1.,,. supply finding its way into th'
limited states Treasury, i'm spite OF Tn
current excess Of payments over receiPt
.f ,ati ins'l. ....,,.i I,,,t55rewaI Of gol
mat me continual "''-'.-' -, 49,. a. IN
from the loans mace dDiooN 4i'' ~