The age-herald., 1898-04-08
In Wall Htraat.

New York, April 1.-The conviction is evil dently unaltered in Wall street that the delay in presenting the presidents mes sag etc congress adds to the possibilities of the Cuban question. The market closed a shade lower today in the average price. Individual losses were in almost all cases confined to fractions and there is fair sprinkling of gains among leading stocks. Only small proportion of the sharp ad- vance which came with yesterdays news that the message was to be delayed until Monday was wiped out. The professional bears showed no disposition to renew their short contracts. Neither was there any sig nof liquidation of long holdings. The only buying demand caused by some slight covering and very limited amount of commission house buying. There was an almost stagnant market. There was no development of the day which awakened it from it's lethargic condition. That this dullneSS is due to an attitude of waiting was evident from the sudden activity when it became known yesterday that the preSi- dents message was delayed and when it was supposed the delay indicated probable concessions by the Madrid government. The public feeling in Wall street that the undertone of firmness in the market is due to some hidden motive, generally supposed to be the expectation that Spain will yield to pressure from the European powers and from the pope, and will concede the demands of the United States. Today s small losses in the face of the generally threatening aspect of the situation can only be explained in the hypothesis that a peaceful solution is still hoped for There was, however, a demonstration in yester- days late bulletins that the bulls offering to realize were brought about by any sharp advance in prices. Professional operators on either side are warily watching for the definite development of the situation. It is thought possible that the liquidation usually incident to a war scare is await ing for the expected heavy demand from the large interest which undoubtedly ex- ist in the market. This short interest Is awaiting for actual declaration of war to cover. On the other hand, there are others who hold actual war has already been sufficiently discounted and that the firm ness in the market is due to this cause
 The situation in the money market is felt to be fortified even against severe shocks. Bank reserves all over the country have been greatly strengthened. The gold re- serve both of the government and New York Is large unprecedentedly so in the case of the latter, and Is constantly grow ing. A large proportion of the payments at the custom house are made In gold and the clearing house balances are in great part settled in the same metal. There is no immediate prospect of international ex- changes turning against the United States, and until this occurs there will be no gold
 
 Today's advance in the Bank of England rate did not check the engagements of gold, but served to shove the demand some what from London to Berlin. The rise of money in London indicated a rise in the Berlin and Paris rate of exchange on Lon don.
 The bond market was almost wholly neg lected but prices were firm. Total sales, $1 ,050 ,000.
 United States new fours advanced 1 per cent; old fours registered, h and the fives A per cent. in the buying price today, and the twos declined # per cent.
 There were sales of the new fours cou- pons at 122k, an advance of % over yester days sale price. Today'sslast price was
 New York, April 7-Money on call, steady; 2 O 4 per cent, last loan 2. per cent.
 Prime mercantile paper, 5h O 6 per cent; sterling exchange, steady, with actual bus ihess in bankers bills at 483k @ F for de- mand and at 4SOA for sixty days; posted rates, 4sO1k @ 4S11k and ASA o 1k; commercial bills at 4S0.
 Selver certificates, 56 O 57; bar silver, 5aN; Mexican dollars, 45 Government bonds, irregular; state bonds dull; railroad bonds. firm.