New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1898-04-03
BONDS.
THE DAYS OPERATIONS IN STOCKS.

Stock market traders exhibited little conn.,
dence in either side Of the market In yesterdays
transactions. Opening quotations were weak
and lower. and declines Of 142 per cent were
made from Fridays closing. subsequently an
active covering movement. based upon the rear
among the bears that some favorable news
might develop to-day. carried prices back TO first
quotations. and at the close small net gains were
shown in most issues. The advance attracted
some buying for the long account. while few
purchases were made In the hope that delay
might permit a peaceful solution OF the Cuban
problem. Sugar Refining. NewYork Central,
Metropolitan Northern Pacific preferred North
west Missouri Pacific and Brooklyn Rapid
Transit made gains OF 1G1i2 per cent. but else
where In the active list net changes were gen
orally small fractions.
The people who can afford to buy stocks and
TO hold them no matter what may happen. show
no disposition to acquire securities at the cur
rent level. Assuming that war is inevitable
they doubtless believe in lower prices. and it
Is not unlikely that in % war they Will
see some changes in stock values. in comparison
with which present prices Will appear dear
There are rot few men in Wall Street who
believe the stock market will be subjected TO
severe break upon the possible declaration Of
war despite the shrnkage In values already ac-
compllshed. Stocks are In weaker condition.
az regards their technical position. than they
were week ago. and people VINO are buying
now I'm the confident belief that a > per cent
margin will carry them through n war shock
may soon learn how thoroughly they have been
deceived Much ~ the buying last week was
due TO a misapprehenslon Of facts
The bank statement, for the week Exhibited
smaller changes than week ago. and showed
that. despite the receipts Of gold from abroad.
the shipments Of currency TO the interior and
Losses on other accounts restricted the increase
in cash holdings 20 SlOIj9Oo. against an in
crease In the week b fore 81 50. 90 Specie
increased s. 2G6GC and legal tender notes
sf25O7OO Loans were decreased N,3li.2V,
and deposits $3Ii3.1v0. The result Of all
changes was an increase I'm surplus reserve OF
81 $50 325 20 81 20 500 against Sii.G'6.JiJ In
the same week in 1891. and SlI.pJoI5 In 1875
The demand from the Interior for currency Is
unusually heavy. the shipments Friday and
yesterday amounting to over - .Vo"o. II war
IS declared the outgo of money VIII naturally
become heavy. the accommodations FOR stock
operators VIII be made AT higher rates; the
d.rnands upon this money market for purposes
outside OF speculation VIII be severe. and. while
s,ringency may not follow. the condition OF the
morket VIII certainly not he iaVoraoe 10 ou''
81 eculaiion In stocks.
The London market was nervous yesterday.
but not panicky. and for this rfason the local
market presented q stronger tone at the opening
than predicted al Fridays closing. The London
market for American shares closed weak. how
ever. and Spanish IS experienced another severe
slump In the bond market there was evidence
u good selling The transactions In yesterdays
stock market did not materially alter It's specu-
lative condition. II IL we'll 10 bear In mind that
the course ~ values throughout the week has
strengthened the bear position. and as conse-
quence this element is In 'air shape 10 take adj
vantage Of any untoward Development
Compared with week ago the chief active
stocks are higher as follows: