New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1898-03-22
STOCKS
RONI)S.
THE DAYS OPERATIONS IN STOCKS

THE DAYS OPERATIONS IN STOCKS.
The week In Wall Street began with the fnan-
cial community In uneasy and uncertain
frame Of mind Expectations were general that
important developments in the Cuban situation,
perhaps the crisis. would occur before the end
o! the week and. knowing the possibilities In
the adjustment OF the Maine matter and IN the
broader question Of the Cuban problem. traders
showed no marked disposition TO engage in
stock speculation At the opening prices sold
down on an average % / per cent. In London
quotations reflected the same uneasiness as
noted here while a lower range for American
securities or the London Exchange assisted in
shaping the course IF prices on the local Board.
Trading. however. vas limited In volume. With
the exception ~ the leading speculative ia
vortes there practically nothing doing.
Prices sagged throughout the greater part Of
the Cay showing little. Il any. raying power
until the 'ast hall hour. when fractional ad-
vances were made. Last figures were at small
net losses in the majority o: issues
Commission houses report increasing indif-
ference among their customers to engage In
markc: operations. This is encouraging. And
81 s also encouraging 10 observe that certain
houses that recently advised their clients
through market letters 10 buy stocks. despite
the threatening position Of Spanish American
affairs. are beginning 10 realize the seriousness
OF the situation. Last week the average wall
Street trader became more optimistic because
he thought the so-called money power would
prevent hostilities between Spain and the
United States regardless Of National honor or
other consequences The money power" IS not
engaged In this sort Of business and the real
financial powers are not seeking 70 influence the
Administration on lines other than those of
honor and common-sense The financial
riunity is anxious for a settlement OF the Cuban
question II conmends the attitude Of President
Mckinley and 1t has confidence tina; any steps
he may take will be. as he said In his Message
70 Congress in December without fault on our
part ard only because the necessity for such
action will he clear as to command the sup
port and approval Of the civilized world"
The extreme dulness in stock operations in
dicated better than anything else the universal
belief that something positive Is soon to be done
In winding up the Cuban uncertainty outside
Of Sugar Refining there were "a Ha issues in which
transactions amounted to In6Te than 10000
shares. while in the great majority Of stocks
- r7,4s Mere well under these figures. The i'm
els gaining new adherents that the trade
,snion 20 the American Sugar Refining Com
ranv will soon become a serious obstacle in the
way q. chat companys future profits while 1t
"a now conceded that the operation OF the Ding
lev law Is disproving the assertion OF Demo
cratic leaders that the new tariff Law is in favor
OF the Sugar Trust; Sugar stock has been de-
clininG in the Stock Exchange ever since the
ftevy' anticipatory imports Of sugar which were
made prior 10 the passage Of the Dingley bill
began to disappear. Customs receipts are be
ginning SO show increased revenue from the
sugar schedule Outside Of the political factors,
that have caused a sagging stock market. many
traders believe the downward course Of sugar
certificates Is justified by the influences affect
Ing the companys business. Sugar sold at 1872
on September 2. 1t closed at HIS yesterday.
and predictions were made that II would go to
par I,should Re remembered, however. that
manipulation. move than business conditions
often guides the market course 81 Sugar Rein
ing stock.
London sold about ten thousand shares Of
stocks IN his market. ard Washington houses
were again sellers. There was. however 10 I'M
por;an. Nquda,ion. Large interests Wee not
active and here seemed 20 be little disposition
~ make ventures on either side Of the market.
In the railroad list Burlington. st Paul. Man
haitian, Union Pacific preferred. Northern Pacific
preferred and Brooklyn Rapid Transit were the
onl,.- active features. General Electric was
strong feature small transactions In the In
dustrial list General Electric and Peoples Gas
have been relatively firm throughout the period
q declining values. Sterling exchange was
e,noer with both the actual ard posted rates
riyher For the present The god import move
ment appears 10 ne at an end rehectlon "
which ,s seen In the easier discount markets
abroad and the expectation here OF easier
money rates