The times., 1898-04-03

| The stock market responded to the
/ influence of Mr.. Hannas peace efforts
| yesterday in fine style. There was all
| day almost without cessation an advance
| in prices and the close was two points
| above the opening. Mr.. Hanna is maxi
| ing the effort of his life these few days
| since Congress has expressed its deter
| mination to throw the Administration ov-
| er unless 1t acts promptly. He has been
| sending out kilograms all over the coun-
! try calling attention to the horrors of
| war in its effects on dividends and advis-
| ing bankers and brokers to demand of
| their congressman that Mr. Mckinley
| be allowed to settle the trouble with
! Spain automatically. His satellites have
| been doing the same thing. it is in pos
| tive fact just such Il game of dollars
| against men as the last election was and
! there being more dollars than men there
| is hope Mr.. Hanna thinks that the dol
| lars will win. 1t is a peace at any price
game and Mr.. Hanna has the price.
However, despite the fact that Mr. Han
| mas money is powerful it is the opin-
ion of almost everybody tffat the war
will come early this week. and that ii
cannot be averted by any means that the
business men have at their disposal. And
for this reason it is TO be supposed and
TO be counted on by the careful specu-
lator that stocks Will drop even further
tomorrow and all this week for the
temporary spurt impaired to the market
by the peace society.
1t is well to think clearly about tba
war that is to come if one has stocks
that may be affected by it. This fact
Is certainly easy to prove. War is not
by any means calamity of unmitigated
Ill effect. Business viii be helped in
many ways undoubtedly and perhaps.
even given the impetus that the McKin
n icf rat b.ac
impart 1t is also certain that stocks
have almost reached the bottom of the
decline that is to come as the effect Of
the war The whole thing has been dis
counted.
Unless one is holding stocks with
narrow margin on the most insecure of
bases it is probably good advice to keep
them at this late date, and to feel that
war viii not hurt them.
Spanish As again scored a new low
price yesterday. They sold at IS on the
street. The Paris holders Of the bonds
are becoming frightened, and sold them
viciously all day.
It is believed that there is good buving
Of Sugar at the low figure and there
Is much talk among the friends of the
company that there will be a sharp rally
as soon as the war panic is over. The
competition Is still talked Of but this
has no effect on the people who know
the immense resources, both in a bust
ness and political way, that the trust
has. The present price of Sugar is un-
doubtedly low, in the light of anything
that is known Of the situation.
Sentiment is bearish on Manhattan.
do not believe there IS to be any ad-
vance in the stock to compare with the
remainder of the market when the reac-
ton from the war panic comes. There
is every reason to keep away from both
this stock and metropolitan Traction.
Mr.. Henry Clews, who is abundantIv
able TO know the truth Of the matter
has this to say of the effects of war
If It comes:
THE condition of the foreign exchanges
abundantly fortifies us for the possible
contingencies of war finance. The impor-
tations of g0ld still continue, and up to
date the consignments to this port. via
Atlantic and Pacific ports, aggregate |
ateat $45,0 100000. Although there has |
bee~>. during the week. some sending for
ward OF foreign bills held here for tenn |