The times. [volume] (Richmond, Va.) 1890-1903, 1898-03-27
q Closing Prices on Change Better
Than on Friday.
MARKETS OF AN EvENTFUL WEEK
Spanish FOurs Take n Sharp Drop on
London Market Grain Quotations
on the Up Grade-Provisions
Lose Ground.

NEW YORK. March 2G--The authorita<
tive statement that the Maine Board OF
Injury report would be iuiy as gray az, "e
predicted brought out q full attendance
I'm the stock Exchange to-day. lnere
were animated groups about an the actlNc
stocks when the market opened. Inc leN,,
erishness OF tho foreign markets, ana
the fairy tale that Spain had declared
war. which was circulated about the cN-
change gave momentum 10 Inc uoWn-hIil
movement. Fairly large margins were
swept away. and large concessions on
values onSucd on every COnsldeIdpic q. =
fcrlnC Sugar. Manhattan and Metropoh-
tan street railway were hanmeieu anu
slumped about 2 points. Other stochs
were sharply depressed. Gradually .hc
market hardened on support gwen lhc
crangcrs aud sealed buying OF the spe-
Cinltics A quarter OF an hour AFTER the
opening the manifest intention OF Iatso
interests to sustain the ilst ied ia 4ci >
10 cover enormous short lines, ana prices
bounded upward. IL seemed likely lhdl
houses having various interests az slake
had come 10 an agreement oVerhsht
10 buy ON the bulge mere Lohdoh WIS
a large seller After an hour TadlhB
prices were well above yesterdays close,
business increased on advance, ana
shares were huOydnt 10 the closc, "iilSh
was generally az the best prices. ne
mot improvements approximate TWO points
In the grangers and exceed per cent. IN
Tho lending international favorites. The
specialties gaised from ~ TO polnlS;
with tho maximum Improvement In Ihlrd
avenue The trading was on an enormous
scale for "a Saturday. the dealings Tor the
short session exceeding recent iuh day"
totals.
orous RESUMPTION of bear aggression, ow-
ina fo the development of various iniu-
entail factors. which were utilized 20 tnelr
fullest extent by tho advocates OF low
values. That their efforts were slshally
successful can he best illustrated by a
resume Of the final prices Of week
AGO the comparison rejecting losses IN
the dividCnd-paying stocks OF from ~ 10
d points and the specialties SUFFERING 10
the extent OF from q TO II. The COpah
question continued the OvershadOwing
feature. and the various phases or the
situation as indicated bv the cnder OF
Washington advices furnished the lever 10
alternately advance and dcpreSS prices.
hv the outcropDing Of numerous other
consideration. which also eXeried "A marx
ed bearing on the financial ana CONNER .
rla1 situation. The market throughout
was highly fcvcrish, and the ready re-
Spouse 90 the slightest efforts IN favor OF
either account afforded some OF lhc az
tive interests an oppOrl unity 20 Ihahe
frequent turns. Ihe dttltuue OF lViclb"
operators was regarded with considera-
Die interest. and quotations from Lohuol
from day TO day were eagerly scanned as
indicative of sentiment in the leaulhg loi =
elgn financial centres. The great Dulk OF
the arbitrape operations favored the short
account. but evidences that the foreign
operators were disposed 10 accumuiale
moderate lines on various leNels sttdd,su
the market and stimulated covering me
bears tested the market frequently, anu
wherever evidence OF support was IdCh-
iu- a stock was vigorously assaltd. TIC
grave aspect OF the European sltuatioh'
which gave promise OF serious cumDica-
ID N.a ffI
interests 10 bolster the market uhtll mat
fcrr assumed "a more chceIlul aspcc- III
tcnslhod the air os depression Wnlch per
fnoafed the security markets. The Ora
matte concentrating ia the Senate de-
erribing the hOrrogs Of the conditions il
Cuba. and the earnest Appeals loI ihtcl
vouti0n by the United states, conDlnea
with tho announcement tndt the spanish
forpedo fleet had left the Canary Islands
en- route for Porto Rico. make the climax
OF tho mid-Wecks developments. 1hose
cOnsideraf ions were supplemented ~ the
.emi-Oflicial statement as TO the MAINE
calamity. which afforded the boilers an
opportunity TO make demonstiduoh
against the market on saturday OPEN
INK. The subsequent dealings shoNeu
frmness. owing TO the continued support
given the list by powerful interests. Inc
unfavorable factors Outweighcd numerous
healthfu influences consisting Oh ran
road statements, favorable monetary oot-
look. encouraging trade advices, and ,he
gold influx, which now aggregates SSJ'vvV-
80.
The bond market suffered in common
with the stock market. but the cOnceS-
si0ns were less pronounced. and business
was largely curtailed. The Government
bonds also exhibited extreme weakness.
Total sales Of stocks to-day were 2t44OD
shares. including Chicago, Burlington ana
Quincy. 23g3j, Louisville and Nashville,
G515. Manhattan. 1850; metropolitan
Traction, 6G7O, New York Central 900;
Northern Pacific preferred. d.lso Rock
Island. 1G1IO: ST. Paul. 81. so. Union Pa
cinc preferred. G42O; American Tobacco,
$3.50: Peoples Gas, t,O3J; Sugar, O9ol1.
MONEY AND EXCHANGE.-Mon on
call steady az per cent; last loan az
per cent; prime mercantile paper 80
asa per cent. Sterling exchange steady,
with actual business ia bankers bills a.
4S3i5N4S3 a.for demand, and at 4sOl2ti4sl
for sixty days: posted rates, 4SlhH 4o212
and 4S4i404S5i5: commercial bills, 4sOA.
silver certificates. 5j3.NJG's; bar silver,
Sos. Mexican dollars. 44A State bonds
quiet: railroad bonds strong; Government
bonds weak.
BANK STATEMENT.-The weekly
bank statement shows the following
changes. Loans, decrease SlllOJO sur
plus reserve. Increase, Sj.1vl 40: specie.
increase S7.O137oO legal tender, increase.
81. 5000. deposits, decrease, S2j26.gO;
circulation. decrease. $500 The banks
now hold S33 Sol .i75 Ina excess of the re
quircmcnts Of the . per cent rule.