The age-herald., 1898-03-13
Markets BY Telegraph
In w all Street.

New York, March 12.-The professional traders were somewhat astonished at the effects they achieved in prices today. The bears who attacked the market at the opening had buying orders at prices which they wished to secure stocks. The mar ket itself was weak when these prices were reached that the orders were with drawn. Othrwise there was nothing to re- lieve the unvarying depression which pre- vailed throughout the whole list of stocks and bonds. Lake Shore Is an example when it sold at 1855, a decline of points and closed with the bidding at only 1So. Pennsylvania dropped 3 full points. St. Paul suffered very acutely, probably on the uncovering of margins on recent specu- lative buying, and was off at one time AS per cent. Northwest dropped IA and Bur lington 3 points. The total sales in the two hours trading, $500, was well up to the average of full days business, and blocks of several thousand shares were frequently offered. This was caused rath- CT by the general conviction that the re- port of the Maine board of inquiry and a statement of the further policy Of the government toward Cuba are imminent, and unwillingness of operators to carry open contracts over Sunday The weekly bank statement shows that the gold i'm ports received for the week have not be sufficient to offset the continued withdraw al to the interior thath the case hold inps show A net decrease of $73,700 But as the heavy drawing done for exports has reduced the requirements, the surplus re- serve is enlarged by $1 1,S97,925.
 The New York stock exchange on Mon day shared the depression existing on every exchange for secureties in the world On the London and European exchanges the demands of Russia upon China and the tension between France and Great Brltalh over the west African situation were al- most as much causes of alarm as the re- loaItins between the United States ana Spain Spainls prompt ddsayoWal or any intention to demand or even request Gen. Lees recall, the satisfactory adjustment or the difficulty over sending provisions 10 Cuba in warships and the passage by con- gress of the $50,000000 defense fund were all quoted as evidence of existing condl- tions to our relations with Spain. But that some of these had any deep-seated effect was shown by the course of prices later in the week. The course of the exchange market and the continued influx of gold must be accpeted also as additional evi- dence of preparations for emergencies. There has been no interruption to the en- gagements of gold for export, which now have reached total of considerably over S16 OOO OOO As high as per mills was asked by the Bank of France for gold, and final ly that institution went so far on trlday as to refuse to pay gold altogether. Gold, how ever, is being taken from the Bank or England for New 1Ork. III FleW ol thS current ease in money rates this sudden increase of the demand for gold must be attributed to European uneasiness over the future and a desire to increase the reserves of the precious metal against all possible contingencies. Railroad bonds have shown dull sympathy with the weakness of stocks, but dealings have been mostly in the spec ulative issues. United States new tours have declined S1s bid, the fives and the old fours bid and the other fours coupon and the seconds F per cent. bid Money on call steady at Z per cent' last loan 2 per cent
 Prime mercantile paper, 4Gl41a per cent Sterling exchange steady, with actual business in bankers bills at s4.83A@4S5 for demand and $4.S0A44.S for sixty days.
 Posted rates, $4.S2@4.S3 and a.S5la.
 Commercial bills, $4.S013.
 Silver certificates, 54Aa541s.
 Bar silver, 54A.
 Mexican dollars, A.
 State bonds dull.
 Railroad bonds weak.
 Government bonds firm.