New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1898-03-02
BONDS.
THE DAYS OPERATIONS IN STOCKS.

ODe In yesterday etoOh
conducted upon an advancing scale OF P'i0es
Boardroom sentiment was again oui'" o.
under this influence. the covering oy l'e S
and professional manipulation Vaiuee nn"''
steady progress toward a higher level ine'
was however little outside support. anu '"7
,r,,rs bx houses Identified with the various
active stocks was not an important FACTOR III ''''
d.vs ,ransact,on. Professional sentiment has
experienced remarkable change since '
rasr Certain professional operators declare
that wa is longer considered possi""''
rber os.ert that the accident theory in connec-
ton with the Maine explosion is accepted as
hevond doubt They say that the pacifcation
OF Cuba without Intervention by the Uni''
c,e..e "a weIlnigh assured while the talk OF
war loans Of Army and Navy activity ana Oh
no..,bls outbreaks by Congress is put down by
these operators the vaporings or ignorance
Ru, ~ stocks 20 down to-day. II influential
leaders resume their recent position on the bear
side Of the market. war will again be declared
and boardroom gossip will send out It's dolefu
predictions.
The shorts have been covering this week AT
lively rate The big manipulators. who were
IN great part responsible for last weeks slump
have becorn. bulls for the time. and the hold
OF the elimination Of weak holders. has made an
advance in prices both natural and easy The
technical position created last week assured
higher prices on the first important demand for
etocka This demand has come chiefly from the
shorts and from operators who believe that
they will be able to sell out at good profits be-
fore any change in the Cuban situation again
frightens the Street into Mysteries And in the
~ tain day-elOpmppts from Ha-
vana or Washington. the check to the advancing
money market caused by gold imports and
lighter demand for money from the interior
serves to encourage operations for the long az
count Small operators who enter the market
at this period should not. however. count upon
a sustained upward movement or believe that
possible unfortunate results arising from the
Maine explosion have been discounted. 1t IL a
very risky market to trade In.
personal opinion expressed by Secretary
Long. intimating that in his opinion the Spanish
Government not responsible for the explo-
sion that wrecked the battleship Maine, was dis
torted into an alleged of1cial statement coming
nom the Presidents Cabinet to the effect that
the element Of Spanish official responsibility for
the Maine explosion might be considered elm
mated from the Cuban situation. The crcua-
ton Of this report served 10 bring about most
pronounced upward movement IN the last hour
Of trading. in which the spectators who lost
heavily last week plunged with reckessness and
total disregard for the actual facts Of the
situation The with which prices were
marked up not surprising. ia view Of the
fact that the bulk Of stocks sold last week was
taken by strong holders. The rapid advance In
the afternoon amounted TO matter Of
supply and demand in which the first named
factor was the controlling influence
Evidence Of manipulation was furnished In
the movements Of Sugar Refining Manhattan,
Metropolitan and Consolidated Gas Metropol-
itan made a net gain Of 1Ol1 points. and Man
haitian nearly per cent. while the total deaf
ings in Sugar Manhattan and Metropolitan
amounted TO over one quarter Of the total sales
IN all issues These stocks with BROOKLYN RAND
Transit the Granger shares New York Central
and the Northern and Union Pacific supplied
nearly two-thrds Of the days entire business
London did very little in this market being a
small buyer on balance. The advance in Sugar
Refining was accompanied by the old rumor
about an extra dividend. and the speculation
IN the traction issues said to be due in part
10 renewed purchases by the Tammany pool.
The close was strong. at moderate recessons
from the best prices of the day
Call money rates trife lower and the
London discount marker showed a hardening
tendency Foreign exchange was steadier
Continental exchange on London was higher
No new engagements Of gold for import were
announced. The greater part OF the gold com
ing to this country was taken in Paris. the high
rate for sterling in that city making II the
cheapest market in which to secure the metal
There is a good foreign demand for money in
the local market. but the shipments TO the inte-
iior have been much reduced Barring adverse
Cuban developments. bankers do not expect a
further advance in money rates at present.
THE DAYS OPERATIONS IN BONDS.
GOVERNMENT BONDS.-sales $4,000 cou-
ron A Of 1925 at 1884, $4,000 at 124h S38. 600
registered As OF 1925 at 124l1 and $4,000 cou-
pom 5s a; liz. FINAL quotations were higher as
follows:
H. ,so, DIN HsS~o Bid Asked.
u - - losI Us bs 1904 reg 1921 ii3i.