Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1898-03-08
STOCKS BREAK AGAIN
ALL WALL STREET CIRCLES Az
FECTED BY WAR SCARE.
MONEY MARKED UP TO 3 PER CENT.
1t Eases on to II Again, However,
Before the CIose-Wheat, Corn, and
PrOvisIOns Affected by Cuban De-
yeIoDments.
veIopnients.

NEW YORK, March 1.-THE relations
between the United States and Spain
caused apprehension in all circles in wall
street to-day. That there were large
sales Of securities by timld holders Tor
the purpose of converting them into ac-
tual money was doubtless true, but a
larger portion of the selling was due TO
the liquidation Of speculative holdings,
which have been strongly held through
previous declines, but which were thrown
over to-day to realize what they wohld
bring. There were very palpable manoeu-
vres also by the bears to force the low
est possible range Of quotations at he
opening, and their offerings to force down
prices and their purchases at the decline
70 cover made UP no small portion OF the
days business.
In this connection, it is interesting to
note that the opening sales Of Burling-
ton were reported at from 9O1-2 to 80 L.
and this quotation was not corrected TIL
iii the close of the market, When IL was
cancelled, with the explanation that me
sales reported were Of ST. Pau, at muse
quotations, and not of Burlington. IN
stead OF a break in Burlington of Ala at
the opening, that stocks extreme uecllhe
from Saturdays close was 81.
Louisville was at one time points cH'
its weakness developing later in the day.
New York Central showed a loss of 3 3-S
at the opening Otherwise the extreme
declines in the railroad list were restrict
ed between / and points.
There were losses in several OF the spe-
ciaIties, Metropolitan failing points,
Sugar, 51-2 points. and Manhattan
points. The shorts were quick to cover at
the decline, and a rally of l TO points
was almost instantaneous. Inc puyihs
70 cover short contracts was attributed
TO WASHINGTON sources. which were aB-
gpessive sellers in the latter part OF last
week.
London was q heavy seller of stocks
here during the morning. the safes lol
that account being estimated at 4O'Voo
shares. London's pessimistic views hau
apparently been Influenced by the threat
arinq outlooK in China. and by the dis
nute ON the Niger question, as well as by
the Cuban question. The local operators
were ouiclx TO decide that no damage was
threatened to American securities by
these complications. and thus secured the
absorption of London day.
THE WAR APPROPRIATIONS.
later I'm the day the Introduction or
Mr. Cannon's bill to appropriate VOW
COO for naval defence, ard the presenta-
finn of the Hawley bill, providing loF
two new artillery regiments, renewed the
carly weakness and forced prices again
10 the lowest. The last break was ireer
from bear manipulation and represented
more louidation than the Garner oechhe'
The decree favoring the RAILROADS. III
the Nebraska maximum freight-rate case
had some effect, and the news that SPAN
had withdrawn its request tor CohSul-
General Lees recall, had but tempo
rarv effect. the other threatening aspects
Of the situation being regarded as more
important. -. ,o
Money was marked up to per cent III
the early transactions, an influence oli
tine inducing Of liquidation Whch must
not be overlooked The hurry III hiohey
was caused by the calling oil loans py d
number of banks. whose reserves mau
fallen below the % per cent HINT INC
rate eased off to IL per cent again oe
fore the close Of the day.
closing prices in stocks were consldera-
hlv above the lowest, but the net ue-
cIines in the standard shares are SUN
from / to over 3 per cent.
The prices Of bonds yielded almost as
sharply as those of stocks, but the
smaller liquidation by comparison WIN
stocks indicated greater underiyIhg
strength. Total sales, S,S25OO. united
states new AS and old AS declined IL
per cent; old As, coupon, and the os'
and as. IL per cent bid. The 6s, cou-
pon. sold at llS. ooo
The total sales OF stocks were oll,sV'
shares. including Atchison preferred H.
O53: Chesapeake and OHIO, 5OZo; Chicaso'
Burlington and Quincy, 54,S2S; LouisVllle
and Nashville. 1890; Manhattan %.9Co'
METROPOLITAN Street Railway, 1880 MIS-
souri Pacific. 6,225 New YORK central
Q, $40. Northern Pacific, 1iS2O do. pre-
TERED 35 $50: Reading, 1925; Rock island
10 220. Reading first preferred 99iO; 81
paul 65 30; Union Pacific, trust receipt
% t9o. American Tobacco, n,l2; Peoples
Gas u $50; Sugar, $3.50; Western ohon'
5.S24. ,,x,c,rANcr
Ntorev ON call steady a 1l-243 per
cent last loan at 3 per cent; prime iher-
oantile naper, 46D4 1-2 per cent.
cterlins exchange steady, with actnal
,,,sinees in bankers bills at $.Sl Is TOT
Son,ond and $IS1 1-2GA.l "a FOR sixty
go. nosted rates. S44gSiS IL; COM
mercal bills. Aa. - - .,
silver certificates. 6faoo. bar shVer'
s41-4 Mexican dollars, Al 3-i'
Government bonds weak. STATE pohos
dull Railroad bonds weak.
nEw loRK STOCK QUOTATIONS.
Closing stocks