The times. [volume] (Richmond, Va.) 1890-1903, 1898-04-08
STOCK MARKET
STRONGER.
The Vein Of Optimism Continues on
the Exchange,
NO DEVELOPMENT DURING DAY
To Awaken IL from tho Lcthargic Con.
dition Into Which IL Has Sunk.
Wheat Is Dull and Weak-July
Declines One Cent
NO DEVELOPMENT DURING DAY

NEW YORK. April THE conviction
IS unaltcrcd In Wall street that the delay
IN presenting tho Presidents message TO
Congress adds 10 the possibility OF a
peaceful solution OF the Cuban question.
The market closed "a shade lower to-day
on tho average price. Individual losses
were IN almost all cases confined TO fruc-
lions. and there Is a fair sprinkllng OF
gains among tho leading stocks only
small proportion OF the sharp advance
which came yesterday in the news that
tho message was TO be delayed until
Monday was wiped ou'. The professional
bears showed no disposition TO renew
their short contracts. neither was there
any sign OF liquidation OF long holdings.
The only buying demand was caused by
some slight covering OF shorts and very
limited amount Of commissiOn-hOuse buy
luR The result was an almost staGnant
market. There was no development dur
Ing the day which awakened II from It's
iethargic condition That this dulness Is
due to an attitude Of waiting was evident
from the sudden activity when IL became
known yesterday that the Presidents
message was delayed. and when Il was
supposed that the delay Indicated proba-
bic concessions by the Madrid Govern
ment. The public impression In Wall
street Is that the undertone OF firmness
in the market is duo 10 some hidden
motive. generally supposed to be the eX-
pectation that Spain VIII yield 10 pres
sure from the European powers and the
the United S.ates.
To-day's small losses IN face Of the
general threatening aspect OF the situa-
lion can only bo explained on the hypO-
thesis that peaceful solution is stu
hoped for
The situation IN tho money market IS
felt 10 be fortified against even a severe
shock. Bank reserves all over the coun-
Try have been greatly strengthened. The
gold reserve both for the Government
and for the New York banks. Is large,
uupreccdeutly so In the case Of the lat
ter. and is constantly growing. A large
proportion Of the payments at the Gus
tOm-hOuse are made In gold and the
clearinghouse balances are in great part
settled I'm the same metal There IS no
immediate prospect Of international eX-
changes turning against the United
States. and until this occurs there Will be
gold imports 20 replenish the money
market.
To-day's advance in the Bank Of Eng
land rate did not check the engagements
of gold but served 20 shift the demand
somewhat from London 20 Berlin. The
rise in money In London resulted IN
rise n the Berlin and Paris rate Of ex-
change in London.
neglected. but prices were firm. Total
sales SfOJOO0O United States new As
advanced I per cent. the old as. regis
price to-day, and The seconds declined
4, per cent There were sales Of the new
IS. coupon a. 1924. an advance Of q
over yesterdays sale price. To-day's last
The total sales Of stocks to-day were
237. 800 shares including Chicago, Bur-
IinRtOa and Quincy. 2471J: LouisviN and
Nashville 6 1875; metropolitan ERECTION.
: 3l5: Northern Pacific preferred, Ol33;
ST. Paul, 2S795; Union Pacific preferred
IL go. American Spirits. 5431; Sugar
75.1S3
The Evening Posts London financial
cablegram says: The stock markets here
opened good to-day on the better aspect
ot the Spanish-AmeUQan question. Busl-
ness. however. was neglected. While, in
view OF all the circumstance Americans
were better, they were left alone, and
Of course, will not be traded in during
the intervening holidays until Tuesday
morning Spanish As. which closed last
night az 47ls opened to-day al JJl4. and
closed about 4Sla. Americans after q
reaction at midday. closed nearly at the
best Details of the gold movement Tor
HE week show the sale of tl2iOo0 In
eagles the shipment or tl2J,OD 10 New
York, OF 5000 20 South America, and
NJ fJOC 10 Canada, and the receipt OF
$4,000 from Aus ralia. Trade returns
for March show increased imports OF
t27JOOOO. nearly all due TO Increased
receipts Of food stuffs. largely from the
United States. Exports decreased $500.
MONEY AND EXCHANGE. Money on
call steady at 2H2f per cent; last loan
al . per cent; prime mercantile paper,
5i,GG per cent. Sterling exchange steady,
with actual business IN bankers bills at
4~8i, 04S3l, for demand and at 1s0li for
sixty days: posted rates, 4SOi2aiSl1a and
4-f04S4i1. commercial bills 4sO. silver
certificates. 56HJ7: bar silver. 5J%; Next
can dollars. 40. Government bonds irreg
uIar. state bonds dull; railroad bonds
firm.
NEW YORK DRY GOODS MARKET.
NEW YORK. April THE market for