Worcester morning daily spy., 1898-03-11
LETHARGIC.
Cuban Situation Still a Source of
Uneasiness to Traders.
Declines of Thursday More Than EIim-
mated the Gains Of Wednesd day-caIl
Money Rates Lower.

New York, March 10.-Today's stock
market showed further con-
traction in the volume of deal
ings, and an apathetic tone to
the trading which indicated the
prevailing disposition to refrain from
speculative activity until conditions be-
came more settled. There is continued
uneasiness regarding the Cuban situa-
ton which finds it's reflection in the
large offerings of securities on any sub
stantial advance. 1t is the evident sem
timent also. that the present conditions,
SO far as they are known, do not war
rant a farther violent decline in prices.
There was a strenuous attempt in the
early dealings today, to make up prices
with the purpose of pinching small bear
traders, and probably, also, for the pur-
pose of realizing at the higher level.
This maneuvre, which proved so sue
cessful yesterday and Tuesday, brought
out such abundant offerings that it was
soon abandoned, and the bears retained
control of the field for the rest of the
day.
A small amount of arbitrage buying
for London account aided in the early
TESTS " NUG uGCllllS, anu lAlC
strength of special stocks tended to the
same end. st. Paul was well supported
in anticipation of the dividend declara-
ton, which was at the rate of per
cent per annum, though the increase
over the recent rate was called an extra
dividend. The strength in ST. Paul as
compared with the other grangers, drew
it and Burlington together, and their
prices crossed during the day. st. Paul
yielded in the final dealings and fell to
the lowest Of the day. Tobacco was also
a strong. feature, and helped to sustain
the specialties.
Its tone was, however, decidedly fe-
verish. Pittsburg, Cincinnati, Chicago
and st. Louis underwent a remarkable
series of fluctuations, as low as 4l19 and
as high as "A, apparently due to con-
test between rival spectators to un-
cover each others margin The stock
closed unchanged. The unsettled and
uneasy tone on foreign exchanges, es-
pecially the weakness of Spanish As in
London and Paris, helped materially to
defeat the efforts to advance prices. The
continued influx of gold failed to have
any effect in sustaining the market.
Neither did it save the foreign exchange
market from falling an additional frac-
ton.
There was a perceptibly easier tone
in the rates for call money. Loans at
the close were made at Il per cent. The
lenders are still loath to make time
loans. large part of todays selling
was attributed to Washington account,
There is no doubt that the bears en-
ployed the usual channels for Washing
ton selling, for the sake of the effect,
and they accompanied it today by the
circulation of sensational rumors re-
garding developments in the Cuban sit
uation. Because of last weeks Wash
ington selling previous to the publica-
tion Of the news of Consul General Lees
requested recall, the market is extreme
ly sensitive to any demonstration from
that quarter. The days net declines
are about a point over all through the
list, and effectually wipe out the ad-
vance of yesterday and the day before.
Bonds were weak throughout the day
in sympathy with stocks, the speculative
issues leading the decline. Total sales
81, ,665, 900
United States new As and the pre-
ferred As coupon advanced u, and the
SIS Il bid.