New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1898-04-07
BONDS.
THE DAYS OPERATIONS IN STOCKS.

1-pon the announcement from washington that
the Presidents Message would not be delivered
70 Congress until next Monday stock market
values moved rapidly upward. last prices show
ing marked gains in the majority Of Issues In
enc early trading there was little indication Of
nervousness Despite the apparent approach
~ the Cuban crisis opening prices were only a
rifle under Tuesdays closing while subse-
ouent declines were light. The critical situa-
ton OF international affairs was reflected now
ever in the indisposition Of traders TO enter
actively into speculation. and in the total lack
~ comrniss! Ion house interest. The fact that
the Presidents Message was not sent to Con-
cress served TO increase the dealings IN the last
hour while encouraging the belief that the de-
Law meant an intimation from Madrid that a
settlement satisfactory 10 the United States
might be expected. Stock traders grasp at every
straw In these uncertain times, and any hint
Of delay raises their hopes and leads them to
believe that war Is yet only remote posi-
bility
Whether or not the stock market Will register
sharp declines IN the event OF war IS not easily
ansvered but according TO some market letters
and news bulletins a perfect bull orgy can be
counted upon. II is a market filed with many
dangerous possibilities. Predictions as TO Its I'M
mediate course would be futile. but II does not
seem within the limits Of reason TO expect con-
stanuy advancing values in the face OF critica!
Developments and possible war. The best ad-
vice that can be given Is that contained IN the
letters Of conservative bankers who recommend
their customers 10 leave speculation alone. The
UNEXPECTED often happens IN Wall street Bear
ing this In mind II IS well 70 put little confidence
IN the many predictions OF the markets course
and 10 remember that there are unknown FACTORS
which may at any moment upset the calcula-
tons OF either the bull or the bear element.
This IS not time when the course OF values can
b.. determined with any degree Of accuracy.
In the last hour OF trading Yesterday senti-
roent was optimistic over a peaceful settlement
Of the Cuban question. An active buying move
ment. based upon this theory was started. and
hear traders who were looking for a serious
break IN prices were pretty thoroughly disguised
with the apparent change for the better In the
stock market as we'll as IN Spanish American
affairs Bear operators who have recently been
we'll punished by their speculative opponents
are believers in Their business requires
war Perhaps they VIII have their desire graft
fed There are many IFS" in the situation,
and changes come so suddenly. that neither side
Of the market ia safe at present but the ad-
vance yesterday leaves the bears In strong
position TO take advantage Of any unfavorabie
development.
OF the stocks that made important gains
the Sugar Refining. Burlington, Consolidated
Gas. Louisville and Nashville. Manhattan. Met
Yopolitan. Northwest. Peoples Gas, Tennessee
Coal and St Paul We're prominent. The advance
was pronounced while it lasted. but before the
close reactions materially reduced maximum
gains although IN some cases last prices were
the best Of the day. The hesitancy noted in the
stock market prior 10 the last hour was marked
u the money and foreign exchange markets