The age-herald., 1898-04-21
In Wall Streat.

NSW 1Ork, Aprll ZU-Ine SlOck market offered a firm resistance all day to the de- pression which was reflected upon it from every other exchange in the world, it's de- clines at no time reaching more than a fraction over a point for the active stocks. In the final trading there was a lively movement to buy developed on the New York exchange, which paid out practically all of the earlier losses and lifted the level of prices sharply above that of last night. The final recovery was brought about by dissemination of a rumor that the period allowed Spain for a reply to the ultimatum had been extended to Monday with a chance that a settlement would be effect ed before that time. There were some evil dences of manipulation for the purpose of making the last prices show striking gains. For instance, Burlington sold at 90%, and on the next and last sale jumped to 91R. A broad view of the financial world shows that New York was less affected by the crisis than any other financial center. At no time were prices depressed to the Lon don parity. As a consequence there was large arbltrage trade here of selling in- ternationa1 stock, New York prices show ing fair profit over trade quotations.
 The depression in London and continental bourses were due to the panic in Spanish As more than to any other one cause. These securities fell 1A and 3A in Paris on forced liquidation, due to financial difficulties in France and Spain. Whatever depression there was on the New York exchange seemed to be due to sympathy with the depression in foreign markets. New York absorbed the offerings of its own securities for foreign account at prices above those prevailing abroad and there was no heavy liquidation for local account. It Is to be observed that American securities have held fairly steady as compared with the marked weakness of Spanish securities. The United States is still heavy creditor to the world and the continued drawing in of these credits, while serving to fortify the financial fabric at home, is factor in the weakness of foreign markets. Doubtless part of the selling in New York for foreign account is due to an effort to equalize ex- change conditions.
 Considering the contrast in the money market conditions between New York and European centers it is considered not strange that the scys engagements of gold were small. That further importations of gold only wait on the needs of the local money market Is, however evident.
 The bond market was slightly more &C., tive and after early weakness showed some recoyeries. Total sales $1 ,025 900.
 United States new fours coupon advanced one and one-puarter and registered one and one-half per cent in the bid price. Others were unchanged
 Total sales of stocks today, 264 ,5OO shares, including 29,N7 Burlington; 6.S45 Louisville & Nashville; 7.661 Manhattan; B. 23O Metropolitan; 5,614 New York Central; 5,73S Northern Pacific; 11,7S5 do, preferred; ., ,733 Rock Island; 32, 2,1SO St. Paul; 25197 Un- ion Pacific; preferred; 25,097 Tobacco; 4S,- S15 sugar.
 Money on cali. steady, 9 & per cent; last loan, 2 per cent; prime mercantile paper, 51k. Sterling exchange steady, with actual business in bankers bills at ASIA O h, for demand; and at 479 O 4S0 for sixty days; posted rates, 4S01a @ 4S1 and ASA O k; com- mercial blls,. 4S71s @ 419A. Silver certif- cates, 56 @ s;;'bar silver, 56; Mevican silver, 45A government bonds strong; state bonds dull railroad bonds weak
 Madrid, April 20.-Gold was quoted today at 5590 Spanish fours quoted at 63 cen- times.
 By Private Wire to Paine Murphy & Co.,