Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1898-03-18
STOCK PRICES SAG.
RECURRENCE OF UNEAsINEss As
TO CUBAN SITUATION.
MONEY C0NTIN EASY.
sterling Exchange Stendy-Wheat
Higher-COrn and Oats Weak.
and Register Observation-Disclosures
F~irm-COtton Dull.

NEW YORK, March 17.-There was a
complete reversal Of sentiment on the
Stock Exchange to-day, compared with
that Of the earlier part Of the week, and
prices sagged almost continuously. The
losses averaged nearly 2 per cent. in the
standard stocks, and were more pro-
nounced in the specialties. In one case
the decline exceeded ( per cent. Trading
was dominated by the announced COM
pletion OF the Maine Board of Inquiry
report, the failure Of the Pacific roads
to reach an amicable agreement upon
passenger rates, and heavy selling by
houses with Washington connections.
A. factor which had little influence was
the continued influx of gold. The pres
ent movement. including to-day's engage
ments, of $1,000, 900. and the S5,jO0,OJO en-
route from Australia. is in excess of
s3O,O0O,OO0. The continued ease of money
likewise attracted little attention.
The resumption of uneasiness as to the
general Cuban situation seemed not to
Spanish As advanced, although this may
have been due to the announcement that
the interest payments which had been
in doubt would be made. The bears Of
fered round amounts Of the Changers,
Sugar. Manhattan, Metropolitan Street
Railway. and other prominent securities.
The absence of support by leading
financial interests was readily perceived
by the advocates Of lower values, and
utilized IN tho fullest gxtgnt London
was rather apathetic, and early prices
afforded little encouragement To either
side. European cables reported the Lon
don exchanges closing exceedingly weak,
i'm response to this side. Sugar absorbed
TIE bulk OF the traders attention during
the day, at receding prices.
Options i'm railway and miscellaneous
bonds showed a further contraction in
dealings, with the aggregate reaching
81 10000. The tendency of the market
was downward throughout, and as has
been the case Of late, a large preponder-
ance of the dealings centered I'm a few
Of the speculative lines.
Quotations for government issues IN
dicate losses Of - per cent. I'm 1892 and
II i'm the registered Of '9i.
The total sales of stocks were 319, 100
shares, including Chicago, Burlington and
Quincy, 3l.2j7; Louisville and Nashville,
$3.50; Manhattan, 23.7J6: Metropolitan
Traction, $40; New York Central, 5,l95;
Northern Pacific preferred, 1i,f43; Rock
Island, 1889; ST. Paul, 23,73j; American
Tobacco, 300; Sugar, Gl,5G5.
MONEY AND EXCHANGE.
Money on call easy at 11-2a2 per cent;
last loan at 2; prime mercantile paper,
41-2uj IL per cent.
Sterling exchange Steady, with actual
business i'm bankers bills at $l.S3 3-4Gp
S4.Sl for demand, and $3.50 3-4a$l.S1 for
sixty days; posted rates, $4.Sl 1-2dSL8
and 1884 1-2a$LS5 ID; commercial bills,
Si.SOG$tSO1-2.
Silver certificates. 55a55 "a. Bar silver,
- rs. Mexican dollars, "A 81.
Government bonds weak. State bonds
steady. Railroad bonds weak.
FOREIGN STOCK MARKETS.
The Evening Posts London financial
cablegram says: In the absence of bad
political news, the stock markets here
continued steady to-day. The chief fea-
ture was the recovery in Investment
stocks. on the prospect Of temporarily
CHEAP money. Prices, however, closed
under the best, notably Americans and
Grand Trunks. Canadian Pacific was
strongly bought for Montreal.
Foreign stocks were firm on Paris buy
inc in spite Of the fractional decline in
Spanish As. a Greek loan is expected
next month. 1t is to be of between
five and six million pounds, of which the
greater part is for the Turkish indemnity.
interest is TO be 21-2 per cent, but
he issue price is not yet known.
financial circles here regard atten-
,t,,oIy vour purchase Of Brazilian war
ships.
vork More was withdrawn from the
Rank of France to-day. 1t is understood
,hat that institution is showing more
wilingness to part with its gold.
..n NO