The times. [volume] (Richmond, Va.) 1890-1903, 1898-03-31
A RUNAWAY
BULL MARKET.
Peaceful Solution Of Cuban Trouble
Expected By Wall Street, :
SPANISH BONDS ARE STRONGER.
Wheat Closes Nervous with All hut
One Eighth of a Cent OF An Early
Advance Lost-Gcncral Selling
Prccipitatcd by the News.

NEW YORK. March 3O.-TO-day's trans
actions in stocks might fairly be termed
a runaway bull market The oycrwhcim-
INK conviction or all operators on Wall
street seemed 10 Doe that peaceful add
Iu~tmrut OF the controversy with Spain Us
probable Early rumOrs la opposition 10
This were pcrsistently and confidently ig-
sIOrod. There were reactions al times
during the day. but these were evidently
due merely FOO realizing sales by those who
were content Go take q large profit already
assured. The day closed with buying
movement iu fun force. ana with prices
near the highest level The days net
gains iu The railroad list ranged from / 20
% points. and in me spcciMues gains or
over points Zoo Sugar and ucarly points
lu Metropolitan street rtt'may were
scored Some of the shorts iut In Mon
days bulge were covered to-day, ana
helped tho advance materially. Dut the
leading Influence iu the market was a
rampant speculative buying movement
London was credited with being large
buyer here. but foreign exchange failed
to reflect the tdct the tone or eNchante
being firm spanish Government bono.
showed strength in Paris ana LONDON. hut
this was called 30 reflection of the strength
OF American securities rather than the
cause OF 10. Early reports from WASH
ingtoR that Spain had agreed 10 iree ,uDa
for E1IupO 600 indemnity gave the Hisl
powerful upward impetus a. the mar
kef The absicution of the Senate For
figu Relations Committee from reporting
amy ol the wariike resolutions IN MS Gus
fDdy and thc refusal of the House 10
interrupt tle Presidents negotiations
with Spain were Interpreted as favorable
factors 40 account was apparently taken
0f Tine implied suggestion accommodating
these actions that the Presidents de-
mands upon Spain are sufficiently firm
and flr-reaching Co meet the objections
of those who had threatened To oppose
him iu Congress. The underlying conFic-
flou iu financial circles was that what
ever these demands may be Spain would
..crcde to them and thus avert hOstilities.
The bond market was by no means as
active as stocks. but the tone was strong
and some notable gains ln prices were
AtYrnd. Total sales. s. 1900. United
states new as. coupon advanced ~ and
lu registered ] bid. There were sales of
fhc ues 1s. coupon. an l 1er cent. over
yesterday bid price and OF old as. cOu-
pom. af Do over yesterdays bid price.
Tine total sales of stocks We're G51 900
shares. including AtchisOn preferred,
$50. Chesapeake and Ohio. $500. Chi
rago Burlington and quincy. ~ 3f3.
Louisville and Nashville 10 so: Manhat-
tam Elevated 33 GO. Metropolitan street
railway ~ N.1. Reading first preferred.
5.Gf0. Missouri Pacific. 100. New York
Central G14l. Northern Pacific. $3.50;
do preferred. 5000. Chicago Northwest
cru. D. $40. Rock Island. ~ 80. St Paul.
81 1l6. Union Pacinc preferred. 5i52O;
American Tobacco. 15.i2o. Peoples Gas.
1880. General Electric. 5.34j, Sugar. 1J9.-
ol2 Western Union. $50.
The Evening Post London financial
cahlogram says: More eagles We're with
drawn from the Bank of England to-day
for shipment to New York. and the bank
has since raised the selling price by a
half penny 10 7Gs Sd. There is a posi-
bnity also of 90 rise I'm the bank rate soon
After dun opening the stock markets
here wcro practically booming to-day, be-
ing led Dos Spanish IS. Americans and
Grand Trunks There is tendency here
AGAIN to buy Americans. and prices were
above the New York parity all day. The
close Goo the street was a trifie under
The BEST of which there was sharp rise
900 klnirs first on rumors of the death
of President kreuger. and then ON reports
that the Deutsch Bank has declined the
terms of 70 loan 90 tho Transvaal Govern
meut Neither Of the reports was con-
frmed but the latter was credited in good
quarters Tho satisfactory termination
ri tho settlement has given more heart
10 tho markets. but much liquidation must
pcrfOrcc occur.
MONEY AND ENCIIANGE.-Money on
rHn steady at llsU2 per cent, last loan
10 1a, per cent. prime mercantile paper
.uCi- Der cent Sterling exchange firm,
with actual business ion bankers bills at
4~aa04S3a, for demand. and at 4Nuf0
ASH for sixty days. posted rates, All lafp
$50 and 4Nfir04Nl. commercial bills. $50
silver certificates. 554dj6l3. bar silver
-le.. Mexican dollars 4f4. Government
bonds firm State bonds dull; railroad
bonds steady