The age-herald., 1898-02-25
Tn ati Street.

Tn w street.
 New York, Feb A-The slump In the stock market this morning was so sudden and so violent that the trading almost took on panic conditions, but the avalanche or liouidation was practically over in less than half an hour and then there were some quick recoveries. The dullness ana the re- cuperative tendency that followed showed that the determination to let go at what- ever sacrifice had been quickly abandoned and late drive by the bears found prices by no means so unresisting as in the morning The covering of shorts worked a substantial rally before the close. Ihe early slump ranged from l to nearly points in the standard shares, ana rom that up to an extreme decline of 12 points in Metropolitan Street in the speclalties' Recoveries though sharp in some snares' were at no time complete in any stock. The later tone of the market susgesteu that the early break was at least ehcour aged by manipulation and the .substantlai character of the buying at the extreme de- cline corroborated the view that there were waiting purchasers anxious to secure stocks at A. lower level of prices. But the 1act was obvious, nevertheless, that the appic- hension over the Cuban situation was more acute than at any time heretofore Inefe was evidently a mass of orders to sell at the market when trading opened, ana coiii- mission houses report that these came from many sections of the country, indicating an uneasy desire on the part or noioefs lo realize on their securities. The character of the buying is evidence that there are owners of large capital who believe that inc sptuation has been fully discounted in the declines which have been made. Lon don was also large buyer during uhe oay' it's total purchases being estimated at 4o'- 900 shares Government bonds were strik- ingly weak. Money was higher, call loans being made from 21a to per cent, and tune ;,rfxr How ypn cent with quite an advance in the demand.
 Quite A heavy movement of currency to the interior is still in progress, but It does not appear that this is due to any other cause than the expanding needs or DUST ness. Money is going into loans, and thus into the active course Of trade. Tn the stock market those securities which sut- fered the heaviest declines, the grangers Burlington leading, and nternatlonai stocks, with Union Pacific preferred the most acute sufferer, enjoyed sharp raines, so that the days net declines are brought within a range of 1 to points outside the specialties. 40
 MetropcI: ar Street Railway dropped 12 points, but closed points above that. and Manhattan, though it fell at one time 9%, shows a net decline of points.
 The movement in the bond market was in sympathy with that in stocks, declines ranging between 1 and points, Prices closed somewhat above the lowest. Saies' $4 OPS, ,000. United States new tours coupon fell 1b per cent and sold at the price, l2oh2. The registered bond, same issue, fell 1A, hut sold per cent above that price.
 Total sales of sticks today were t3S, ,ioO shares. including: Atchison, 5Sl0; Atch- ison preferred, e,H0; Chesapeake x Ohio 9.7s5; Burlington. 42405; Erie preferred, B. 200: Lake Shore, 3515; Louisville & Nash vile. 2O.990 Manhattan, 3S,42O; Metropoli- tan. 15, ,420 Reading preferred, 1885, Mis- souri Pacific, 1880; Kansas & Texas pre- ferred, s,G7e; New Jersey Central, 6,6ll; New York Central 31,e20; Northern Pa cific. 19. .22O; Northern Pacific preferred, 3O,- ooo: Rock Island, 1S,420; St. Paul, 6O,S2o; Southern preferred, THO; Union Pacific 19. .s2O; Wabash preferred, 5,S9O; Tobacco' IA 02O: Chicago Great Western, 3,S7o; Peo- nje's Gas. 51 APO; Consolidated Gas, 5,6eO; General Electric, 5,7S0; Pacific Mall, 6,5oS; Sugar, S6, ,S20; Tennessee Coal, 4,4So; west ern Union, 13,192
 Money on call firmer at 21aqS per cent; last loan, 2ls per cent.
 Prime mercantile paper, BOA per cent. Sterling exchange weak, with actual business in bankers bills at A.S57s@4.S5% for demand and $4.s2% for sixty days. Posted rates, $4.SS1e@4.S4 and $4S6hs. Commercial bills, $4.S2.
 Silver certificates. 1000 ounces at oA; closed at 551k@56k.
 Bar silver, 55ss.
 Mexican dollars 4bM-
 Government bonds weak. State bonds dull.
 Railroad bonds weak.