The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1898-03-22
LOWER ALL AROUND
Condition of Stocks Market at the
Close Yesterday.
DOUBT AND HESITATION
OVER CUBAN QUESTION EX-
PLAINS THE CAUSE.
Only a Small Volume of Stocks Of
fered All Day, But the Demand
Was Almost Nothing-Easier
Money By Reason of Gold Impor-
tations-Bonds Dull.

New York. March 21.-The only feature
observable in today's stock market was
its dullness The dullness was the exact
reflection, however, of the doubt and
hesitation which prevail in all financial
circles over the next probable develop
ment in the Cuban question. Apparently
there was a limited volume of sales for
the short account at the start, Wmch re-
suited in sharp declines to practlcalS
the low point of the day There We're
lower prices made in some few stocks
later in the aimless drifting of the mar
ket. Business was. however, almost stag
nant after the opening until near the
close. when there was a sharp rally in
prices apparently due to the rebuylnS OF
stocks sold at the opening. There was no
spirit or animation in the rally and prices
drifted downward again at the close.
LOWER ALL AROUND.
There was only small volume of stocks
offering all day. but the demand was al
most nothing and the result is that the
prices ara lower all around, losses reach
ing a point in some OF the leading spec
ialties. There is every indication OF
large outstanding short interest in the
market but in the presence OF the pos
sibilities in the political outlook this in
tereSt is very persistent in declining 10
cover 1t is the prevailing belief that
early davelopnents at Washington will
include the report of the Maine ooard
of inquiry and presidents message on
that and Cuba. This keeps purchasers
out of the market and on the other hand
the large short interest warns the bears
to proceed with caution The consequence
is Semi-stagnation. such as was witnessed
today Such selling as there was. was
attributed to Washington account and
there was some selling also by large in
dividual operators. London was a seller
but not to a large extent. The list OF
stocks and bonds that moved at all was
a comparatively short one, the market
being too narrow.
FOREIGN EXCHANGE.
Foreign exchanges stiffened slightly to-
day and no engagement was announced
of gold for import. Discounts in London
and Berlin were reported slightly easier.
The outlook here favors easier money
on account of the gold importations al
ready arrived or on the way Banks are
not yet disposed to make time loans and
great caution in the buying of commercial
paper is also manifest.
The bond market was on correspond
ing scale of dullness with stocks and
prices were lower Total sales. 100:
United States new As were Il lower ana
the old is registered Il lower. while the
old is coupon and seconds were y higher
bid.
MONEY MARKET.
Money on call. 11401s4 per cent; last
loan. ~ per cent. Prime mercantile
paper. 4i56i51s per cent. Sterling exchange.
firmer. with actual business in bankers
bills at 4S4A for demand and at 4.S0iz a
4S0I2 for 60 days. Posted rates. 4S212G
4S5i9. Commercial bills. 4S014G4S02,.
Silver certificates. 55sSd56. Bar silver.
55ss Mexican dollars, 45.
Government bonds. weak; state bonds,
dull; railroad bonds, weak.
SALES OF STOCKS.
The total sales of stocks today were
209 100 shares. including. Burlington, %. 695;
Louisville & Nashville. $40: Manhattan,
1855 Metropolitan. u.149: Northern Pa
cific preferred. 1862: Rock Island. 4.625;
St. Paul. 22600; Union Pacific. 1855: To-
bacco, 1900; Peoples Gas. 400; Sugar.
81, S44; leather preferred. 1923.