New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1898-03-06
BONDS.
THE DAYS OPERATIONS IN STOCKS.


Wall Street traders are beginning TO assume
tina. the Cuban situation is most dscouraging
No news Is considered a good argument FOR
lower prices while the preparations making by
the Government for a possible emergency are
nccepted as conclusive evidence OF coming war
Al least sentiment was inclined this way on
Friday and Yesterday. Fear Is manufacturer IN
Wall Street; so also is cheerfulness. and the
latter may assert Itself this week until profes-
sional traders are again ready to sell the mar :
ket lower. In the absence OF good support ana
actual news from Washington and Havana the
stock market is an easy target FOR bear traoers
especially after few days OF advancing values
as witnessed early in the week. Probably the
greater part Of the speculative liquidation yes
terday and the day before represented the dis
Judgement OF ~eak accounts created on the rally
IN the first part Of the week. when over-san-
euine operators for the long account bought
IN expectation Of a gradually advancing market
Selling for both accounts was pronounced
Washington houses were again sellers. and sew
eral large professional operators continued their
aggressive tactics with good results. 1t is pos
eibIe that the last named covered at the low
point Of the day. and. If So and barring ad-
verse Cuban developments to-day, prices ought
10 enjoy rally tomorrow. The uncertainty
Of the situation and the professional character
Of the market should serve. however. TO induce
the utmost caution and conservatism in all mar
ket operations and TO disabuse peoples minds
Of any belief that prices will not go lower
Thursday 1t looked If the market would re-
main dull and steady. but the movement Of
values Friday and yesterday shows IT Is be-
lieved by many people that only temporary raj
lies. rregularity and saggtng prices can be ex-
pected until some positive development appears
he ~ cto ks
to strong holders. values yielded yesterday with
extreme ease, which was even pronounced in
the standard investment shares. In manipulated
specialties like Manhattan, Sugar Refining and
Metropolitan Street Railway. extreme declines
heavier. although their final changes
showed substantial recoveries Toward the
close buying from houses actively connected
with various stocks induced covering Of shorts.
the result IF which was rally from the lowest
figures of the day.
Union Pacific preferred. Of the railroad list.
was the leading feature. both in respect to ac-
tivity and weakness. The selling was said 10 be
-ood and due TO the suit brought 10 prevent any
Increase in the company's bonded debt. II was
reported that the company would issue $1,000
900 bonds In addition TO the amount already ex-
listing. The common stock small volume
Of business also suffered in price. London was
a moderate buyer. Among the comparatively
steady features Peoples Gas. which was
supported ny inside interests.
The weekly statement Of the Associated Banks
shows n larger movement of currency TO the
interior than generally expected. and precludes
the possibility Of any immediate material ease
in rates. despite the gold which will come in this
week. The heavy increase in bank cearngs in
the week at interior points indicates condi-
ton Of business that necessarily makes big de-
rnands upon the money institutions outside Of
New-York. and for this reason the local banks
can neither expect help from the West pre-
vent further withdrawals for the interior. The
large changes In the loan and deposit Items last
week probably reflect part Of the operations Of
the preceding week, which from the known
movement OF money not adequately re-
fected last Saturday. The contraction IN loans
amounted to S13 622 900. making decrease for
The last two weeks OF S1s65S, 500. In the same
time deposits fell of $50 $40 900 last weeks de-
crease amounting to S23 1939O0 Cash holdings
decreased S7.934, 900. but the heavy loss In de-
posts left the surplus reserve only So 1S5.S25
less than week ago.
THE DAYS OPERATIONS IN BONDS.
GOVERNMENT BONDS.-Sales. $4,000
registered Is Of 1925 at 1857. Final quotations
follow: