Evening star. [volume] (Washington, D.C.) 1854-1972, 1898-04-14
FINANCE AND TRADE
Stocks Opened Weak, but Recovered
on Strong Buying.
Big INTERESTS ON TIE BULL SIDE
The Market is in a Very Complex
Condition.
GENERAL MARKET REPORTS
Special pisp.tch to The Kven,os Star.

Special Dtspatch to The Evening" Star
NEW YORK, April 13-London prices re-
Elected declines varying from a to 1 per
cent as the result OF yesterdays develop.
ments In the Standardization situation.
Spanish 4 per cent bonds declined per
cent under further selling inspired by the
attitude of the American Congress.
These influences were practically disre-
garded In the local market, the opening
level being almost at q parity with yester-
days final figures. During the opening
hour the market displayed considerable
hesitancy and advantage was taken OF Pc
rtodic moments OF strength to uQuidaCe
speculative long stock.
Later in the day, Just prior to the noon
hour. In fact, strong interests were noted
among the buyers at the decline. The de-
mand for stocks at every fractional de-
cline gave rise to a belief that something
favorable was developing In Washington.
The short interest became nervous In the
presence OF what appeared to be a legiti-
mate demand and were made to cover.
The entire list moved UP easily and no
pressure to sell was encountered at any
point Belief in settlement of the Cuban
question without resort to war is un-
atated.
The House resolutions were construed to
be simple granting of the discretionary
power asked for in Mondays message and
Delay looking to a peaceful outcome was
the predicted result
The Senate is relied upon to accent the
Rouse resolutions IN conference and to re-
linQuish its own definite position This lat
ter point Is the one doubtful contingency
embraced In today's speculative arguments.
Washington advtces wers mixed on the
prospect of peace, but the dispatches from
sources which have hitherto influenced the
market gave the dilatcry resolutions the
benefit Of the doubt.
Upon the prospects for delay and a final
diplomatic adjustment Of the present
strained relations between this country
and Spain. owners OF securities were per-
suaded to retain their holdings. without
liquidation lower prices are not likely to
prevail. Liquidation can be prevented by
the fulfillment OF presont expectations, but
patience can scarcely progD to be unproft-
able in the long run.
Whatever of good or bad there may be
In the present market, the Interpretation
is left to a small faction more concerned
with protecting present risks than with as
Stunning new ones.
An advance Of 81 per cent In American
Tobacco was feature of the days trad
been in spite of conditions rather than in
sympathy with them. The advancing con-
ungent is liable to figure conspicuously in
an opposite rate once an attempt Is made
to realize the profits reflected on the tape.
American sugar was marked UP 2 per cent
during the afternoon, but almost imme-
dlately lost 1 per cent because OF a cessa-
ton OF covering. The granger shares
gained from 1 to IL per cent under some
condition Is 50 complex that the day-to-
day changes defy prediction Money gives
evidence of becoming more active, but
otherwise the Cuban discussion is the one
drawback to substantial Improvement I'm
prices.