Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1898-03-27
STOCKS UP AT CLOSE.
LARGE INTERESTS ExEnr THEM.
SELVES TO SUSTAIN THE LIST.
TRADING ENORMOUS FOR SATURDAY.
Net improvements Approximate Two
Points I'm Changers, and Exceed
one Fer Cent. I'm Leading mtcrnn-
tionais-Graih on Up-Grade.


NEW YORK, March 2s,-The authorita-
tive statement that the Maine Board OF
Inquiry report would be fully as grave as
predicted, brought out a fun attendance
IN the Stock Exchange to-day. There
were animated groups about all the ac-
tive stocks when the market opened. The
fcverishness OF the foreign markets and
the fairy tale that Spain had declared
war, which was circulated about the Elk
change, gave momentum to the down-hill
movement. Fairly large maTgains were
swept away. and large concessions on
values ensued on every considerable offer
ing Sugar. Manhattan, and Metropolitan
street Railway were hammered, and
s.umped about two points. Other stocks
were sharply depressed.
Gradually, tho market hardened, on
support given the Changers and sealed
buying Of the Specialties. A quarter Of
an hour after the opening the manifest
intention OF large interests TO sustain the
list led traders to cover enormous short
lines. and prices bounded upward. 1t
seemed likely that houses having various
interests at stake had come 10 an agree
ment overnight TO buy. On the bulge here,
London was a large seller.
After an hours trading, prices were
well above yesterdays close, business in
creased on the advance, and shares were
buoyant 20 the close which was generally
at the best prices. The net Improvements
approximate two points i'm the Changers,
and exceed l per cent in the leading in
ternA tional favorites. The Specialues
gained from ID 20 4 points, with the
maximum Improvement In Third Avenue.
The trading was on an enormous scale
for a Saturday. the dealings for the short
session exceeding recent full days totals.
- BEAR AGGRESSION.
The week lust ended witnessed a vigor-
Gus resumption of bear aggression, owing
TO the development of various influential
factors, which were utilized to their full
est extent by the advocates. Of low values.
That their efforts we're, sisnally success
ful can be best illustrated by a resume of
the final prices of week ago. the com
harrison on rejecting losses in the diVi-
dend-paying stocks Of from II to
points, and the Specialties SUFFERING 10
the extent Of from to IL.
The Cuban question continued the over
shadowiny feature, and the various
phases Of the situation, as indicated by
the tenor of Washington advices, FUR
and depress prices. This CONDITION OF
affairs was augmented by the outcropping
of numerous other considerations
which also eXerted a marked bearing on
the financial and commercial situation.
-rTbe d. market Throughout was highly
fsverlsh. and the ready response 10 the
slightest efforts in favor OF either &C
count afforded some of the active inter-
sc an oDportunity TO make frequent
of
was regarded with considerable interest
and quotations from London from day 10
dav were eagerly scanned, as indicative
~ sentiment in the leading foreign man
.cia1 centres The great bulk OF the aIpl-
trage operations favored the snort dC-
co,,nt but evidences that the torelBh oPe-
rators were disposed TO accunlinu i ilI5
moderate lines on various level s'eaC 1u,.
enc market and stimulated covering. me
taars tested the market frequently anu
,,berhver evidence Of support was lach-
- tba stock involved was Vigorously
assailed.
EUROPEAN SITUATION.
Tho grave aspect of the European stu
-, which gave promise OF serious
combinations, and the reluctance oI So .
>tar+t.I interests to bolster the maFket
mil matters assumed "a more cheeIIuI
asDact intensified the air OF uepIe29lo'
which permeated the security uiei ~
rrha dramatic speechmaking IN the
SaTa+a describing the horrors OF ule
ror5itions I'm Cuba. and the earnest APP
lie for Intervention by the Uhlleu
States combined with the ACKNOWLEDGEMENT
nat the Spanish torpedo-heet mao IelC
the. canary Islands, en- route lo[ ~
Rico. mark the climax OF the hlp"eeh
Developments. -,,,,r,,e,,,e r,tea
These considerations were suppieineHteu
~ the semi-oficial statement as 70 the
Waina calamity which Afforded the
bolters an opportunity to make demon
etration against the market on SATURDAY
oneniDg The subsequent dealings snow
"a frmness owing to the continued sup
mort given the list by powerful interests
me IInfavorable factors outweighed nu-
,,arous healthful influences, consisting
~ railroad statements, the faVoraDie
monetary outlook, encouraging trade al
,.icns and the gold influx, which now
aggregates S3j.O000J0.
POND MARKET.
The bond market suffered in common
with the stock market, but the coilCes-
eions were less pronounced, and business
VS. largely curtailed. Government oohdS
also exhibited extreme weakness.
The total sales of stocks TO-DAY we
tor and Quincy 22,935; Lackawana ana
N-ortbvrestern. 65l5: Manhattan, l4o0o;
Verropolitan Traction, 500; New YORK
Central. 5.O75: Northern Pacific, preferre req
G7N. Rock Island, 1880; St. Paul Sl'SoS'
T-pion Pacific, preferred, 6,42Q; american
Tobacco, ESQ; Peoples Gas QUO; sugar.
69G5. r,,>-cr,
Money on call steady at per cent;
last loan at 2 per cent; prime mercah-
tie paper, nkN5h per cent.
Sterling exchange steady with actuai
business In bankers bills at AS12gSi.6j'l
for demand, and StSol2USiA Tor Sky
DAYS. posted rates ASlhnSASzI = anu
81 SpL0Si So; commercial bills. AO Ia.
Silver certificates, s. 5-Sa56 90. bar
eiIver. Is is. Mexican dollars 4i94'
State bonds. quiet Railroad pohus
strong Government bonds, weak
BANK STATEMENT.
The weekly bank statement SHOWS the
following changes:
Loans. decrease, $4,000 ,, ,o-
Surplus reserve, increase So'''i' To-
Specie. increase, T,0iS7OO,
Legal tenders Increase, Sa'"V
Deposits, decrease, Nb26'|o'
Circulation DECREASE, $500.
The banks now hold $50 S5l'4Io In excess
Of the requirements Of the 70 per cent
rule. . -
The Financier says: The statement OF
the clearinghouse banks OF New ION c.S
lou ~