The times. [volume] (Richmond, Va.) 1890-1903, 1898-03-20
Saturday Has Developed Into a Quiet
Day on Change,
WHEAT IS AN ACTIVE MARKET,
The Price OF May Wheat Goes Up Co
Si.O7, hut Selling by Letters Pull
IL Down To 81 .O3-Corn and oats
Both Respond Co the Slump.

NaaOu. coupled with the recollection OF
voc developments OF the preceding sun
ray, IN Che suesosuon Of the recall OF
General Lee. led to reckless short selling
uN thc traders. driving the market 10
point even lower than the Monday mar
kpt succeeding the Lee incident Tho
DiuChiug administered 90 tile reckless
Rffrs iu the rebound OF last Monday made
rlcm extremely cautious about putting
uuf short lines iu to-d1ys market. The
consequence was au almost Utfless mar
kef. as no one is ready GO take me long
side OF thr market at this time. Prices
orlffcd aimlossly up and down over
narrow range. only "a little over 10000
shares changed hands during the day
snort session. The bond market was
equally dull. The band statement showed
In expected irpreas. Boo the surplus zee
ttryc. but the met increase iu specie by
300 means fully reelected mo receipts oI
imported gold during Ihc week ana tine
uck OF legal tenders was materially Tee
duccd. Tho lowering of thc ltEW reserve
Jewel by 81 .~Ii 11O through iur reduction
1u deposits accounted fpr tnai mucn OF
Tie Increased surplus THE Nip.'N' 10
contraction In loans i- clear enough eve
dcucc that The heavy receipts OF told
from abroad arc insufficient To- maintain
Ihc balance of tho money market in spite
money iu the last days of the week. Tho
ruhau problem has remained the doml-
o1ut factor iu the STOCK market curing
Fhc week It's uncertainties nave bcth
competent fO Judge OF tho outcome. inc
heavy liquidation of speculative holdlnts
Of long stocks induced hN The urst stage
Of the threatening developments mas p'tn
about concluded. and probably no further
heavy offerings would Doe induced except
by some development threatening serious
there has been am extensive ffHlilttlo.l "l
consequences 90 sVCurifg values. Indt
-redits has been obvious from the dcvel-
onmcnts in thc money market. hut TINS
restriction has apparently affected nutn-
fng yet beyond thc speculative enterprises
anu particularly trading pm seGu i...,.,
The underlying sentiment I'm Wall street
is that a hostile attitude toward Spain
will ultimately he forced upon the Gov
eminent log tho dcploraole condluoh III
cuba whatever may De- The outcome ~
traders persist in selling the market
short on the other hand. there IS me
underlying Of the business SITUATION: Inc
large increase iu bank clcarings an over
fhe country reflected awakened CONNER
Cial activity. The current OF gold nowing
toward his country rs uninterrupted at
This period OF the wear, when exchanges
arc usually golng against us. OWING 10
creasng. the still greater increase IN
exports keep them largely IN excess OF tne
imports. Prices rebound with asi"heh,
inC stresC % on any PROPAGATION. ana
force Inc shorts To- scramble to cover
j. is largely the covering OF shorts lhat
has raised the level of prices substdh-
TALLY above last Saturday s. extreme de-
preston. 90
Tho bond market has been dull during
the week but prices are somewhat bci-
Ter. United States new IS advanced -
fhc old As. coupon, ana the Stc"Ila vc-
cliued ,. and the old registered - ue-
Inc Total sales Of stocks were 1iS.3oo
shares including Chicago, Bufunklo on ana
80 -.r,~r.d Cp-4- 81 Paul 1000.
I-rion Pacidc. Clio. sugar 3f14O.
r...sa,, c-or,i,l
The Evening Igs' L1nuo, i,,r
Sa. .l I t,ios pa Snd am fo-dav The China
''an " WE ,.lire steady ON the New York
,I t,,t th.r. win bo initiative here
..I..it.,s tt. nuhIicafiou of Tine Naval
h .''. - TDo,lir,is renort ou the Maine
i,'hIa "l da.NvII r,i,sl Of cold nom
- e,,ll -rr.f,ht .overeipns are
,Nus Iat.a 4, ,i'-i 10 S-.,r york The Rank of
ntlNb rIlpp'" 'o w t".,i.. II 40 OOo
Spaln SNOW 81" III, nf tbo treasury
vns'ide dl iH' 'it"iN "'
2,l'nVV
call nominal at per cent, prime mer-
..nfifa uaufr. liffii, per cent. sterling
ovrIarcc steady with actual business in
bankers bills al 1888, for demand and 40
4ani. fe0a, for sixty days. posted rates,
4Sfis04S2i, and 4Sfi.0fSjh. commercial
l,Vls 4~n44SOa, silver certificates. Jjd
56i. bar silver. 5ji.. Mexican dollars. 40.
state bonds dull. railway bonds firm,
Government bonds weak.
,,-,.,.,-,xy pA,-r- crATENrENT a. The
ii+iN l,.,,tNN,,,,,,t -i,oy,e the follow
pr. n ,,,'.'l,
l,.k 1, .,. 49,. i,crcaso 533s COS
/, ul ,."a ,,rr.,, 10 as 100
Is-.li. irrre4-r .. 5211 200
y c.,.,i tlr,le, d.rreago - GlN 500
Deposits. decrease o.. ......... 7514. 800