Evening star. [volume] (Washington, D.C.) 1854-1972, 1898-02-25
FINANCE AND TRADE
Stronger Tone to Stocks in Spite of
Cuban News.
GENERAL RISE IN ALL PRICES
Market Was Feverish and at Times
Very Irregular.
GENERAL MARKET REPORTS

Special Dispatch 10 The Evening Star.
NEW YORK, February 25.-The irrational
financial panic of yesterday was succeeded
this morning by deliberate action based on
a more conservative estimate of the real
significance of the destruction of the
Maine. London cables reflected advances
extending to fun point in some instances
and brought over a fair volume of buying
orders.
Opening prices were inclined To some ir-
regularity. but all efforts To force a general
decline were successfully thwarted by this
temperance OF yesterdays bargain seek
ers. Advances OF substantial proportions,
varying from l TO per cent. were recorded
PRIOR 10 the noon hour, the covering OF
short contracts being a conspicuous feature
of the derrar-d
Rumors varying only in the degree OF i'm
probability were circulated freely, but the
percentage of credulity had decreased ma
terially over night. and inventors of uncon-
hrmed Cuban episodes have no longer a
market for their wares.
No considerable selling was inspired.
therefore, upon the announcement that
Consul General Lee would return by special
train tomorrow nor by the statement that
a final verdict had been reached by the
court of inquiry.
The cabling of the latter report 10 Spain
kets for Spanish securities. All things con-
sidered, the action of today's market was
decidedly better than the ordinary after
effect OF such a thorough shaking out as
TT at recorded yesterday. Dullress was pro-
nounced at times, but even this circum-
stance was encouraging. inasmuch IL
demonstrated the lack of a general desire
to proceed with the liquidation OF long
stock
The failure to maintain the maximum
gains in the column OF net results for the
Cay Is not disappointing. the ability of the
market to rally after its fright having
been demonstrated.
There still many clements of a dis
quieting nature involved in our Spanish re-
IL lions. but conservative interests dis
posed TO consider the market beyond the
evils OF hasty conclusions OH this subject.
There Is a general belief that further de-
velopments OF extraordinary financial In
terest will be evolved from the Cuban stu
alton. Expectancy guards against the evils
Of surprise. however, and this fact of itself
has a most encouraging side
The one development of the day lacking
all hackneyed features was the weak and
almost unstable condition of foreign ex-
change. Rumors of the probable importa-
ton of S3.OO0O 900 gold were based on the
lack of a market for all classes Of bills.
The short interest in the market was
frightened into covering still further the
result of this prospect.
Earnings from all sources were entirely
satisfactory. but the rate war prospect
along lines Interested in the Klondike trade
is disturbing factor to q moderate de-
gree All routine matters would be mar
shaded in the interest of Improvement were
ii not for the grSver questions involved in
Washington deliberations. II todays mar
ket is copied as an example of caution and
elaboration. there Is every reasonable as
ST rance that no greater stress Will be laid
on the Cuban controversy than is sane
tened by the future attitude of the ad-
ministration-