New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1898-03-12
BONDS.
TUT NAYS OPERATIONS IN STOCKS.

The securities markets yesterday were "edN
and lower. with heavy ceiling throughou' wv
list Last prices were at substantial ue0''"'' ."
COMPARED with Thursdays closing
c,a.ooents tending to show that possible war
hos been discounted in Wall Street are accom-
named by gradual saSeing STOCK md. NJ
From the talk heard in certain orohc'' JIM
and the remarks printed IN some brokers ""'
,,n. letters Il would seem that a great many
foolish minds arc at WORK. feopie ""0 ,'
that the stock market. IN case Of war VIII no'
co 70 n level lower than that reached IN inc 'hS'
few weeks are laboring under nisapprehon-
e,or The conservative bankers kno" Whit
uar r.,,, mean. and they are taking precautions
accordingly.
BECAUSE war ney be aver,ed. there Is no rea-
son not 10 prepare for H. II war comes '"o'
may be a serious break in stock prices oau'e1
bv the calling Of loans and voluntary anu i''Oe'
uoudaton Despite the fact that Cou - O'''
ing into this country in large amounts iio"''
rotes should there be an outbreak OF wal may
he advanced borrowers on Stock EXohans" CO..
lateral may be called upoE for money i"''
owing 10 the Withdrawals by interior Insult
t!ons and emergency calls on the money maj
bet. and stock prices may decline on the i'q"'u
ton CT collateral placed against oe'iaid io''''
s,Ir.ing Of loans and changing Of accounts are
=, an emergency. ard the preparations making
r.u naturally lessen the shock OF actua! war;
II II comes.
The prevailirg disposition OF the public TO stay
,,. ~ stock speculaton was reflected again IN
1es:e-dav's transactions. The market was praC-
,cal,v barren Of buying ord .rs, and professional
traders sold the entire list lower. There was
soma nouidation of long accounts. with selling
nv t,-od-out traders. Prices exhibited h''ie Il
arv rallylng power closing at about the poorest
OF the day while sentiment was depressed her-
Won. md alarmed over the Cuban situation IL
e generally believed in the Street that important
developments in Washington are near al hahu'
and that President McKinleys future pohcy re-
garding the Cuban question will soon be maze
public In the circumstances heavier iquidaton
for the long account and increased selling ny
tho shorts were not surprising. A decli ,e OF Ia
u, nor cent in Government bonds helpel create
an uneasy feeling which was intensifel by
further break in the price OF Spanish securities
en- the London Exchange and Paris Bourse
The only support In the days market came
ronn arhitrace- house buying and proft-taktng
Nv the hears The opening firm at frac-
t;onal advances but throughout the rest OF the
dav prices gradually worked lower. with the
selling coming chiefly from professional traders
There was. however. liquidation on quite an
extensive scale. including, it was said, some
important speculative accounts. The decline in
values was followed by increased activity. total
sales amounting 10 304 921 shares. agains; 2S2.
oST Thursday.
The position OF the local money market was
unchanged. and more gold ilnpor; engagements
were announced. In London the open market
rate for sixty-day bills was higher and in Paris
exchange on London advanced 2i4 centimes over
Thursdays quotations Todays Local bank
statement will he watched with extreme interest.
owing to the movement OF money and gold i'm
ports in the week. IL is probable that the gold
already received will no than offset the
Withdrawals for the interior.