The farmer and mechanic. [volume] (Raleigh, N.C.) 18??-19??, 1898-04-05

inston Of soree favorable turn in the
prospect of affairs.
his development or was
not lost upon the bears. II i not i'm
probable. also that some of the buying
was due To that class Of investors whv.
come into the market to buy stocks 1T
4 low range of prices for the actual re
turn IN yearly income. London further
more was a buyer TO some extent here.
i'll spite OF the significant weakness OF
Spanish fOurs on foreign exchanges.
Badly stated. it seems remarkable
that t0ere should be Il sharp net ad~
vance IN 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
EQUATIONS looking u the conservation
Of peace with Spain. The fact i that
prices are from l TO + points higher
in ali of the principal stocks that make
mp the bulk of tie business on the Stock
Exchange. This : due in part to tech
nical conditions in the market. Not for
years has there been seen so violent an
advance IN prices as in Mondays bear
panic. The bulge in prices seemed To
have been designed originally by some
Of the large Dear operators themselves
49, NNC Pun ItoSR u AIlNlI oI III
Of their undesirable following by fore
ing them to cover their contracts and
thus leave the way open to Il 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 marker.
Later developments. especially on We'd
nesday showed that there was still Il
large outstanding short interest and the
beEef prevailed at the end Of the week
that this short interest was still large.
The persistent sensitiveness of the
market to the faintest suggestion of 4
peaceful adjustment Of the Cuban qucs-
ton goes to confirm the belief. Aside
from this question. the business condi-
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
III currency N the latter part of the
week are probably not adequately re,
Elected III banks returns.
Estimates and opinions vary widely
as to how far the imports of gold, which
now amount to over $40. 100000 from
Europe, ave been drawn aga~inst-current
grain and cotton bills and how much OIL
the accumulated exchange against Eu-
rope still remains in New York as collat-
eral for loans. That there is still q libe-
raj supply of exchange to be liqu:dated
is generally believed. Large banking
and financial interests in Wall Street are
believed to be in substantial accord re-
gardlng the course to be pursued to in
sure the greatest safety and stability
i'll the event of the shock of war.
Bonds have moved III sympathy with
stocks. but lave not been active. Prices
are > to ) per cent higher in exceptional
cases > to 8 per cent.
Government bonds have weakened in
the latter part of the week but they
show net advances over last Saturday
amounting to 23s in the new As coupon,
, in the new IS registered. one in the
old Is coupon and y in the IS and
2nds.
The total sales of stocks were 277,-
800 shares. including c. Il. q G., 81
no: l.. 4 n. 5.240: Manhattan L.. 10
80; Metropolitan Street Railway. r.
363: New York Central. 6.4SO: Northern
Pacific preferred. S.165: st. Paul. 81
40: Union Pacific preferred. 2O.O45; L.
J.. y. & g., 6.15O; American Tobacco,
7.o15; Peoples Gas, $3.50; Sugar, So
$40.