Evening star., 1898-04-01
Stock Marie: Was Again Feverish
Over War News.
TEE FOREIGN DEMAND Was GOOD
Rumors Of a Rival to the American
Sugar Trust.
GENERAL MARKET REPORTS
pecial Dispatch TO The Evening Star.

Special Dispatch 10 The Evening Star.
NEW YORK, April 1.-The feverish spec
uiative conditions noted yesterday wera
stAi further emphasized today London
cables reflected lower range of values for
Americann securities during the opening
hour and inspired lower opening on this
side The initial decline varied from u to
1% per cent and was the result of rela-
lively small transacticrs.
The for.ign markets turned sharply from
de preston to buoyancy and again inspired
sympathetic imitation on this side. During
the morning hour therefore the market ex-
hibited the unusual spectacle of ignoring
hcme conditions and following blindly GER
tain guesses as to the Significance of the
trading abroad.
Ii mas been the impression for several
days that the next development of i'm
portance would come from foreign sources
Tne failure to get definite information as
to the conditions abroad led to the more ra-
tioDA idea of looking into things nearer
home Consequently, lower and more
natural range of prices was established
during the neon hour
During the latter period stocks were press
ed TOR sale in increased value, and sharp
declines extending to more than per cent
were recorded. Washington advices were
uniformly arrayed against the peace pros
pect.
Strong financial houses have combined to
support the market, and the record made
since last Saturday is one of remarkable
achievement A panic due to extreme liout-
oaticn mas been averted. and the market
put into position to withstand disappoiut-
ment.
inns safeguard will not prevent a sharp
oechhe upon the announcement of the fail
ure to prevent host:lities but 1t should op-
crate to incur prompt recovery
FOR the time being all he t,rnverl,i ial
methods of determining the correct side of
the market are at fault. and conserya tism
demands lnaction. Professional Wall street
busted itself during the final trading in
evening up contracts over what promises
to be an eventful Sunday in our interna-
tional relations. :
The volume of business was not especial
ly significant at any time but it served to
shCw the tension under which all securities
are held
Manipulation in the traction shares upon
The decision of the rapid transit commits
SION to authorize the construction of an
uEcergrounu railway system was a feature
of the day.
Tne proposed resumption of business by
rival of the American Sugar Company
was another development not attributable
to Washington or Madrid dispatches While
earnings and traffic increases nave been
ignored. as market factors. the character
OF these items has been uniformly favorable
to values. :
of national Importance however, and ali
STOCKS are selling at prices suggested by
the Spanish controversy, and not at those
to which they are entitled by virtue of
merit.
The ability to hold the market in the face
of expected complications only emphasizes
the underlying merit of the situation
Within twenty-four hours after the WASH
1ngton authorities take decisive action tue
market is expected to reach its lowest
point.