New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1898-04-12
BONDS.
THE DAYS OPERATIONS IN STOCKS

The Stock Exchange community continues
confident in the belief that Spanish American
affairs will be setted upon peaceful basis. THIS
belief was strengthened yesterday by the dec
laration Of an armistce In Cuba The fact that
there must be two agreeing parties 10 an arms
tice was lost sight Of while the Maine and fu-
ture possibilities Of the Cuban situation in Con-
gress appeared he entirely forgotten The
Presidents message came up TO the expectation
of Wall Street Its Interpretation by stock-mar-
ket traders was that there would be favorable
solution OF the Cuban question. Stock values
accordingly advanced. Conclusions reached may
not be followed by the kind Of settlement desired
by operators for higher prices. and. as the sit
uation now stands. there appears no warrant for
expecting bull movement in stocks. or Justili-
cation for the eratuitous advice given in many
quarters to purchase securities for big ad-
vance.
The stock market opened strong, and. though
extremely dull. remained firm with an advanc-
ing tendency the greater part Of the day. me
ffrst announcement OF the Presidents message
was followed by a slight decline throughout the
list. but upon the complete publication Of tie
various issues discussed n stronger tore deVel-
oped. and. without noteworthy interruption.
h.Sher prices continued until the close. Final
figures in the more important stocks showed
material gains as compared with Saturdays
closing Renewed frmness in the money mar
ket, which was foreshadowed in last weeks
bank statement was incident Of the day.
having however, no especial Influence upon
stock-market trading The course Of the money
market this week will he watched with unusual
interest and. from present indications. despite
receipts Of gold from abroad. rates Will remain
farm and strong, which condition. In the event OF
war will doubtless develop into a materially
higher level than that now currept. The bank
statement issued Saturday showed that country
balances In this city were being WITHDRAWN
faster than any one expected.
There was no pronounced disposition to make
large ventures In the stock market. Despite the
favorable impression made by the Presidents
message, trading was almost wholly prores-
sonaI. with the bulk Of the days transactions
in few speculative favorttes. NO pressure TO
sell was noticed at any time. but. on the other
hand. little new or vigorous buying appeared.
The London market was closed but 1t was
thought likely that to-day's operations for the
foreign account would show buying on the
strength Of the Presidents message. this reason
accounting for no small part OF the late pur-
chases
Sugar Refining. Burlington. St Paul. Metro
politan. Manhattan. Union Pacific preferred and
Brooklyn Rapid Transit were the chief active
featur.s The last-named stock was somewhat
depressed on the efforts making by the city 10
annul the bridge trolley lease Laclede Gas de-
clined over ! per cent on the decision OF the
Supreme Court denying the company's claim TO
the exclusive hight to light the city OF St Louis
and to make excavations in the streets without
permission Of the Board OF Public Works.