The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1898-03-24
STOCKS SHADOWED BY WAR
SECURITY MARKETS WORLD
OVER TIMID AND HALTING
Bull Party on the New
York Board Prevented Any Sharp
Slump, and as the Market Closed
ON a Rally There Were Even n
Few Gains-The Net Changes All
Narrow.

NEW YORK. March 23--The doubt over
the outcome Of the Cuban controversy be-
tween the United States and Spain was a de-
pressing influence in the local stock market
today, as 1t was in every market for securi-
ties in the world. In Paris the weakness OF
Spanish As affected all other securities by
sympathy. and the same influence weakened
the markets in London and Berlin the heav-
mess of American railway securities being an
additional factor at the latter two centers
On the local exchange there a well
defined bull party, whose opinions were at
tended with more or less success. thus sub
tracing very materially from the sum of the
depression. The motive publicly avowed by
this bull party for It's attitude is that prices
are lower than are warranted by intrinsic
values. and by the political outlook But it
is doubtless Influenced also by the technical
condition of the market, which is full Of
short contracts, waiting to be covered on
the expected slump on the anticipated de-
ctsive developments in the Cuban situation
There is temptation for bull clique to
mark I'D prices in such a market and force
the bears to cover.
The success Of the bulls today only
moderate in inducing covering, but they did
discourage further short selling and twice rail-
lied prices from declines running up to a
point over in many prominent stocks
The market closed with one Of these rallies
in force. SO that the net changes are for the
most part insignificant, and there Is fair
sprinkling of gains.
The industrials continue to be the chief
sufferers from the depression. Manhattan and
metropolitan De1ng especially marked out Tor
selling pressure. The railroad list was pretty
well sustained, and the Northern Pacific
stocks and Union Pacific preferred showed
not little frmness.
The money market seems to be waiting on
the Cuban question equally with stocks
Bankers are loath to put out money in time
loans. although the available supply with
the replenishment of the gold imports is
said to be equally large. Today's falling in
exchange and the renewed engagements Of
gold may be put down to the apprehension
over the future rather than to present &C
tual demands for money.
The bond market continued to lack anima-
ton. trading being confined to a few specu-
lative issues The tone was weak. Total
sales 81, ASS, 000 United States new As, reg
istered declined u; United States new 4s
coupon, ", and the old As and the 5s "a bid
There were sales Of the new As at 120, the
bid price.
Total sales of stocks today were 29s, 600
shares, including 34,340 Burlington; 1900 L.
& NJ. H,526 Manhattan; 1868 Metropolitan;
9,700, New York Central; $500 Northern Pa
cific; 1865 do pfd: 1920 Rock Island; 25 $50
St. Paul; 1880 Union Pacific: 12.165 To-
bacco; l0,315 Peoples Gas; 65 2s5 Sugar.
The following were the fluctuations Of the
leading railway and industrial shares fur
nished by c. H. F. Smith & Co.. members
New York stock exchange and Chicago board
of trade.