Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1898-03-19
STOCKS F~LUCTUATE.
THEY co TT, THEN Down. AND
FINALLY RALLY SHARPLY.
COMPROMISE WITH SPAIN.
This and Reported High Naval opin-
son THAT Maine Was Destroyed h,
Accident Have Their Due Eject
Money Easy-Whcat strong.

NEW YORK. March ~lS.-To-day's STOCK
market ~uuctuated over quite a wide ex.
tr.mc-nrst upward. then downward-anc
with "a later recovery above the early
lsh point. But Il is noticeable that tho
days net changes, although mostly on
Che side OF gains, were not very large.
Tue extreme dulness was a feature. This
and the character Of the rumors which
atsg,Cd the market Indicated the man
4a.ation OF small professional traders.
whose existence depends upon a move
u.ut Of prices, whether up or down.
The late rally was the feature of the
oay. and vas significant Of the nervous
waiting attitude Of the speculative world.
Hals rally was effected on detailed ru-
unrs as TO what had been taking place
81. The meeting of the Cabinet in Wash
..--on. Compromise with Spain over
Cuba was the burden Of this rumor. ac-
.~.muanled by the information that Spain
was perfectly willing to grant eyery-
..uE, ON the sole condition that her
- remains IN cuba. The professional
snort sellers FASTENED 10 cover omen con-
tracts ON the strength of this report. and
another 10 the effect that a distinguished
..e.r OF high rank I'm the United States
navy q expressed the opinion that the
Maine was destroyed by an Internal ex-
I.Hsiou. due to accident.
uslUt on the furry caused by these
ram0rs was more active than at any time
curing the day. but was not on an un-
usually large scale. especially consider
.u- the wide movement Of prices. Neither
WAS the rally well held, the reaction
touching practically all stocks. ana
amounting to IA substantial fraction in
many cases.
As for the opening squirt, IL was largely
assisted by the buoyancy OF the local
traction stocks, based on the reported
offer OF the rapid-transit commissioner
r.r am extension of the elevated system.
manhattan more than recovered It's divi-
a.nd on the first quotation on the
sE'ncth Of this, and Metropolitan jump
cd -l-2 points.
The subsequent movement downward
was equally conspicuous in these stocks
and other speCialties. The heaviness and
ness were without the slightest inter
Ilplon after the opening squirt. up to
The recovery in the last hour. The relapse
-. spanish Tours in London u Paris
Hs not reassuring.
notwithstanding yesterdays slight
hardening in the rates of exchange. and
The distinctly easier tone in to-day's
market, further gold TO the amount OF
$4,000 was engaged for import to-day.
THE bond market showed weakness in
The early dealings, and a frmer tendency
the close. Total sales. $4,000
United States new As and the old As.
were l-2 lower. and the old As,
registered. IA lower bid.
The total sales Of stocks were 500. 200
shares, including Chicago, Burlington and
quincy. p. 100; Louisville and Nashville.
l05o; Manhattan, ex-dividend, 1906;
Metropolitan Street Railway. 13.175: New
York Central. 6,i93, Northern Pacific,
1855; do, preferred. 1875; Rock Island,
'e55; s.. Paul, 26.055; American Tobacco.
$40; Peoples Gas. $3.50; Sugar, $3.50;
,uion Pacific. preferred. 1880.
MONEY AND EXCHANGE.
Money on call easy at 1922 81 per
,eut.. last loan at 11-2 per cent. prime
mercantile paper, 41-2Q51- = per cent.
Sterling exchange steady, with actual
business I'm bankers bills at Si.S3 3-i0
for demand and $3.50 81 for sixty
posted rates. $LS1 l-2a$L42l- - and
asa l-2U$i.Sj -; commercial bills, $i.S04
$50 "a.
Silver certificates, 55655 "a; bar silver.
Mexican dollars. 45.
Government bonds weak; State bonds
.ull: railroad bonds weak.
BANK CLEARINGS.
The total bank c~learings in the United
states for the week have been 81 ,2Sg, 1922
20, per cent. increase. 30.4; exclusive of
York, 500, OPS, 772i per cent. increase, !
go.
FOREIGN STOCK MARKETS.
The Evening Posts london financial
able says: The stock markets here were
lie and featureless to-day, with a bulhsh
Inclination. Americans opened dull, be-
anne better on ostentatiOus buying by a
aiding American house. gave way later
90 New York selling. and closed weak.
'ae report Of the naval board Of inquiry
20 the Maine disaster is ~anXiously
Spanish IS were 3-S over.
Jew York is said here 10 be specializing
1uslderably I'm that stock.
The Chinese loan prospectus is out.
ne details are as already cabled, but
% important point 10 note is that the
utire loan has TO be paid mp as early as
Sd. This doubtless indicates the
syment TO Japan on May Sth Of the
rrire balance of the indemnity Of &l2.-
luD. The ease in the London money
Iarket was increased to-day by the re-
.ase Of 100000 Of japanese money from
be- Bank of England.
Ntw loRk STOCK QUOTATIONS