New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1898-04-02
BONDS.
THE DAYS OPERATIONS IN STOCKS

Il
Securities values suffered severe losses III
Yesterdays market. After weak opening 'o'-
Ioxea NV n moderate rally the whole list sold off
nm lnuida;ion for both accounts. with last prices
showing substantial net losses. and standing al
the loves, figures Of the day in the majority OF
,.eues In the last half-hour there was con-
siderable decentralization. and selling orders IN
creased with the rapidity characteristic OF pan
,ckv markets. The day s movement illuminated
I'm a violent break at the close
The conflicting reports regarding the result VI
the negotiations between Washington ana Ma
drid created an uneasy feeling III wa" street az
the opcning OF business. and Subsequent repo.''
from WASHINGTON were not or NATURE " '
1T, confidence in the hope of a peaceful solu-
t,on of the Cuban problem Inc 'ehS'o' ~
so,a, ,,rc,es vas intensified By n sharp break
IN Government bonds and Spanish securitieS'
while on the Stock Exchange an a"Nd"'' "
call money rates added feverishness 10 speCu''
tive sentiment Rates were marked nP u pe'
cent. and bankers showed no dlspos'U'" - p1'
ont time funds The higher rates III '"' 'N'
market were doubtless due. IN part ~ NV ~
serious aspect of the Cuban sNuS''oi' wv"
s.uns made upon the banks in connection
u,th April interest and dividend disou' se"'o
.nd q heavier inquiry for currency from the IN
49,, ro,ah,,. wore the controlling influences
a.. .,a calling Of Stock Exchange loans ana the
,,i,,c NY, of rates In the week the banks
$40 los, heavily 70 the interior, ou' on 'he
other hand. they have gained by receipts OF so'u
>ro,o abroad Unless the movement oil ''oiieS
has been different from the known course 'o-
davis bank statement ought not 10 Sho" ma"
rial changes from week age
Da.,re. IN the standard stocks Of 3 per cent
md above not uncommon i"e
came In large amounts from marginal ou'
the last few days and IN the last hour 'he oe',
.,srnent resumed aggressiveness which ie'u
a. heavy operations for the snort a'oo
rarlv transactions. however. did not 'Aue
.,v n,onounced selling by the last-nalheo ''''e
.st and It is not unlikely that the Gay mus
effective sales were from sources o'ne' '"a
professional Recent buyers for the io'e
,,., reo,,zed at the close Of business that the
support extended TO the market III VIC ~,
80. =, tho sort they confidently believed VI
A.. .o,,vs stocks. Sugar Refining Brooklyn
D.,,d Transit. the Granger shares. Peoples 1as
,I.rnattan. Louisville and Nashville Northern
D..,ec n-ererred and Union PACING prelerreu
-. ro,eworthy weak features. and WIN
A,oer,can Tobacco. supplied the bulk OF 'he
.u.s dealings The last-named stock Was
..ors AZ q net gain OF over | per cent sa'o u
he due to inside buying.
so,na ontimistlc brokers advised tnelr GUS
toners early in the week that important ""ii
30, interests felt assured of satisfactory pedCc
s.,,,enoent OF the Cuban question. sentiment Vi
49,. sor, from commission house brokers had
r.assur,ne effect upon many small Operators
r,bo at once placed marginal buying orders i'i
,oors The accumulation Of which on MONDAY
,rd Wednesday created a weake. market from
..chn,cal noint Of view. than az any time IN
several weeks Conservative wall stree, IN
,eyests as well as the conservative hha"oi"'
-oss advised against the purchase OF STOCKS Oh
r,,ns II traders had given heed 10 such
..ororces rather than 70 the arguments or men
ho insisted that the backbone or the pear
-,ov.uen, was broken. there would nave peeh
<.rer losses to record in yesterdays inarhe''
CO... h-okers now asser: that n declaration oi
GO, will not hurt securities values In the
r,r,on ~ many shrevd observers the expecta-
.;or ., an immediate advance In values FOLLOW
,ry tho possble announcement OF war VIII ho'
=. realized No one OF limited means should puy
.,oc,s at current prices in the belief that the
haer market has reached rs limit. Inc marHe'
.n.ovad several days ~ advancing values pu'
erie vas due 10 manipulation and TO inference
,a.her than knowledge ne 70 the result OF 'he
Cuban situation
Speculative probabilities are dangerous Things
"a operate upon az present