The times. [volume] (Richmond, Va.) 1890-1903, 1898-04-06
STOCK MARKET
IS STAGNANT.
Dizziness is Expressive Of the Waiting
Sentiment,
THE REPORTSyERY CONFLICTING
As 10 the Nature of the Presidents
Mcssagc-Organizcd Pressure for
Peace Proves "A Boomerang.
Some Traders Optimistic.

NEW YORK. April 5~.-To-day's stock
market was almost s~tagnant, and there
we're minutes at a time during the ses-
SION OF the exchange when no quotation
for any stock was recorded. Small as the
total volume OF business was. most OF II
was made up OF transactions In a few
or the leading stocks. Sugar and the
granger apsoI Ding the largest proportion
The dizziness itself was expressive oil, the
prevailing sentiment Of waiting ana or
extreme doubt. Not only were reports
very conflicting as TO would be the
tenor OF the Presidents message 10 Con-
gress tomorrow. but opinions as TO how
the message would be received n as
posed OF differed widely. There was prac-
ideally nothing left Of yesterday > sam
guine anticipati0ns that a sentiment
would grow an Washington against war
IKE measures. There were, IN TACT, sig
uiIcant reports that the organized pres
sure which has been cNerted upon Con-
gress during the last rev days against
hostile measures has rather defeated US
purpose by awakening resentment. wan
street counted much on the effect or this
united reprcscn alton TO Congress. Prices
show small losses throughout as n mel re-
suit Of the day trading. the opinion -
stll tenaciouslv held In some uarters That
hostliities may yet be syerted. Such
hopes as this entertained to-day were
based on the possibility that Spain would
bs induced 10 yield 10 demands OF this
Government los the representations or
The Pope and the European powers. An
EXPRESSION of prevailing uneasiness was
the decision by the stock Exchange Gov
ermng Board 20 keep open Tor business
on Good Friday. The money market CON
tinucs 10 reflect the stress over the rela-
lions with Spain as f0rcibly as in the
stock market. Funds continue 10 move
10 the interior for the purpose or strength
sning the reserves of interior banks. The
vrnporti0u Of reserves of all the banks in
fhc c0unfrv have been enormously IN
creased in the last few weeks. and New
York has made good the consequent drdln
anon ITS reserves by a large contraction
in loans and by heavy imports OF gold
from Europe. The owners OF money are
very loath 70 put it out in loans. Inc
prevailing rates OF . per cent. LOT ue,
mand money and varying rates Tor can
loans are admitted 20 be largely ssentl-
mental. and based on apprehension OF
war. The position Of the banks is adj
mittcdly strong, the supply OF available
funds large. and the demand FOL. the use
of money not very active. But with rates
stinly held. gold continues, ana Will con-
tinuc. TO come from Europe. An easing
of money in LOndon and Berlin facilitates
tho importing gold movement, and the
engagements announced to-day amount
to nearly %S3.00O.OO0.
transactions i'm bonds were on a very
small scale. but the market shared the
depression with stocks. Total safes
81 .&25oo1. United states new IS ana lhe
old as, registered, are y lower bid to-
The total sales of stock were 257,1O0
shares. including Chicago. Burlington and
Quincy. 2J.547. Louisville and Nashville,
G2z0. Metropolitan Traction. 1855: Rock
Island. g.92O. ST. Paul, 1880; Union Pa
CHIC preferred. 26.3l2: American Spirits.
6CfO. American Tobacco, 12,o5S; Sugar,
rs. POS.
The Evening Posts LOndon financial
.ahiegram says: The stock markets here
were |stagnant to-day. IN view OF the
approach of the Easter holidays. while
the uncertainty OF the political situation
depressed quotations. At the same time
30 Is felt that each days delay increases
tho likelihood of a Spanish-American
war. Americans We're much better at
midday ON q somewhat ragged buying
here. This is regretted, because IL will
weaken the position If war occurs. Gold
fs IN strong demand for New York at
77s. I'D. and $3.50 i'm Japanese yen were
bought for export at 76s. Glgd.
MONEY AND EXCHANGE.-Money on
call firm at 2U3 per cent last loan AT
o., per cent: prime mercantile paper, 5db
per cent. Sterling exchange weak. with
actual business in bankers bills at ASIA
tS3L for demand. and AT 4SO4d4SOl2 for
sixty DAYS. posted rates. 4SlH3S2 and 4s4Q
asa. commercial bills. 479i9. Silver GER
idcates. 5sls0JC1s; bar silver, J5A MeXi-
can dollars. A.. Government bonds weak;
state bonds dun: railroad bonds weak.