The times. [volume] (Richmond, Va.) 1890-1903, 1898-04-14
SLUMP ON THE
STOCK MARKET.
49, "
Net Losses Ranging from TSO to Five
Points.
RALLY ON ACCOUNT OF SENATE.
Although the Delay is Only Considered
Icmporary-Spanish Fours without
support at any European Cen
tcr-May Wheat az Highest.

NEW YORK. April 1}-Net losses rang
ing from 90 points "a the active leaders
OF speculation. ana animated close 10 the
day trading a. almost the bottom leNel
OF the day. and heavy blocks of securities
Offering for sale were the features Ot to-
days market. and showed clearly that
recent optimistic expectations that the
Cuban lmlrOgliO would soon be settled.
The point of order in the Senate, which
sent the consideration OF the Cuban rcao-
d. ION over "a day. rallied the ndiAet
slightly. indicating that the recent urm-
ness iu prices was based ON .hc tlAnce
that tht delayed action by Congress might
stiil Cits opportunity for "a peaceful ace
1ustmclt OF the trouble. But all reports
received from Washington were ;lHcr 20
mean that. though there might Doe delay,
there was lifuc doubt that the ultimate
action Of Congress would be such as
would necessarily constitute rdsus belh
hy rcpudiatIuE Spanish Sovereignty In
CUBA. Reflections ~ the same KIND came
no.. only from Washington. but rom All
tIa foreign stock exchanges. The Sp t1-
itn as were without support az any OF the
European centres and the heavy tone
90 Americans reflected the growing lc-
def iu war
with can money in the local market
responding with rise % per cent
ih,rc ie no dimlnuton In the pressure I'm
European centres for gold 20 be shipped
to Sew York. 10 was rumored ~ Wall
street that The Bank OF England VIII ru'<-e
ifs rate Of discount 90 % per cent. should
war be declared between the United
States and Spain.
Tho bond market displayed an increas-
INK pressure of liquidation as the day pro-
crossed and especially I'm the speculative
issues. and losses are general throughout.
Total sales. S1375OoO. United States As
declined - now as ia. and the old As.
registered. and the 5's q per cent. In the
rotai sales OF stocks were 33j4o0
shares including Chicago. Burlington and
Quincy. 4O1jl. Louisville and Nashville,
H... ~. .Hf .aH 81 o.
uoItau street railway, $50, New YORK
Central $3.50. Northern Pacific preferred,
% 4u3. Rock Island. 119J, ST. Paul. $500
Union Pacific preferred. 5I''Di American
Tobacco. 20 AS. Peoples Gas. 6eS4j SUI
gar UGSS.
The Evening Posts London financial
c3h.csium says. The stock markets here
remaipei -tasn"pt to-day me settle
Weut IS small affair ana was soon
arranged hut cputaE0es were higher. be-
causes of 0eartr money, those on Ameri-
cams heine T41l2 per cent AmerIcanS3
th.rr was sharp fan in Spanish Us.
which was connected with selling from
Spain. AmerI ans gave way in sympathy,
and aI the markets became dull closing
only fraction above the lowest. There
were wild rImOTs at the close. including
report chat the cable between Havana
arI k.t West had been cut. ConsOls and
other clt-edrod stocks continued TO fan
There Is Do Likelihood OF further rise
Ir tine Bank OF England rate tomorrow.
unless war should Doe declared or New
York should engage "a very heavy account
o. gold. The Paris Bourse was democrat
lzel Lv the fan iu Spanish As.
MONEY AND EXCHANGE.-MOne on
.rU firm at 314 per cent. last loan az .
per cent. prime mercantile paper Jlldb
par cent. sterling exchange steady, with
arfuHl business in bankers bills al 4S3ii ~
4saly for demand and at 4NOdi>oi4 for
sixty days. posted rates. lS' 214Nl ana
4Ct44Sll. commercial bills 453i.. Sill
v.r certificates -f1J6a. bar silver. Jbls
Mexican dollars. 45l. Government bonds
weak state bonds dull. railroad bonds
weak.