The times. [volume] (Richmond, Va.) 1890-1903, 1898-03-23
ALMOST AT
A STANDSTILL.
Net Losses Of Between Two and
Three Points
ON STANDARD RAILROAD STOCKS
The Relations With Spain the Prime
Factor i'm Prices But Other Infiu-
cnces Also Have Bearing.
Wheat Market Stronger.

NEW YORK. March 22-Onerings TO
sell were not heavy in to-days stock
market, except IN "a few stocks and inter
mittently. But the buying demand was
at so low an ebb that even the desultOry
onerings that We're drlbbled upon the
market drove prices downward almost
continuously. The result Is seen I'm net
losses Of between ? and points in a
great many Of the standard railroad
stocks and leading industrials. and Of
over threo points Ia the local traction
speclalties. During the morning session
'here were evidences OF an attempt to
support prices in few stocks, due TO the
chor,s OF large operator recently re-
turned 10 the street There was also ex-
icnSlNe covering by another OF the largest
operators I'm the street who has recently
been a persistent seller. The slightest
indication Of a rise IN prices brought out
such heaVy offerings all through the list
that the half-forfned purpose apparent to
nd up prices was abandoned for the rest
Of the day. Apparently tho burst Of ami
nation In the final hour was due 10 a
considerable short selling. as there was
q tendency TO rally on covering just be-
fore the close. but this rally was so fee
bic that the covering movement was given
over and prices fell away 90 about the
lowest az the close. The great bulk OF
the dealings was in The grangers. Union
Pacific preferred Sugar and the local
traction stocks. The railroad stocks were
affected by the reports OF the blizzard in
the West. Sugar continued depressed on
the belief that the company was on the
verge of n war for supremacy in the
trade The local traction stocks were az
fcCtcd hy threatened complications grow
ing out of the proposed rapid transit
project. But while these special causes
had an approciable influence. the shadow
on the market was the development Of
the Governments Cuban policy; In which
All circles feel certain a Crisis is now
Evidently
buy stocks until this question is settled.
Another feature Of the day was a further
announcement of gold engaged for inn
port and "a concurrent easing OF in eX-
change rates. IL was felt yesterday that
the gold movement had probably come 10
an end for tho present. and as this was
believed 10 be due to a prospect Of easier
money rates. IL was looked upon with
favor by the speculative community. Ac-
cordiuC 10 this reasoning the resumption
to-day OF the gold movement might be re-
garded AS an unfavorable factor, thouen
the further influx OF gold must make Tor
caster money. even though II is not the
index that easy conditions have already
arrived.
The dullness in the bond market was
even more pronounced than that on
stocks but the losses were comparatively
small Sales. 81. 100000. United Staes
As were "a higher. he old As. coupon, a
higher. and he IS y lower bid O-day
The total sales of stocks were 269 300
shares. including Chicago, Burlington and
Quincy. % 22J: Louisville and Nashville.
71gO. Manhattan. 1850 Metropolitan
Traction. Q34O; Northern Pacific pre-
fcrred. 1850 Rock Island. SOLO; St
Paul 81 .464: Union Pacific preferred, lS,-
a25; American Tobacco, 1I63S. Sugar, co.
oS0
The Evening Posts london financial
Cabiegram says The stock markets here
continued quiet and dull to-day. the only
feature being the better tone on inn
proved conditions on the Paris BOurse and
the revival Of French specialties such as
Rio Unto Copper and DeBeers Mine.
Americans are simply waiting on New
York. They closed weak. Brazils were
better. The demand for gold for New
York Is less keen In consequence OF the
rise in exchange. The China loan Is go
ine fairly well here. and was apparently
well received I'm Berlin where the sub
-cription list was closed at noon. The
new Union Pacific shares carried over
to-day for the special settlement on
Thursday showed a shortness of the
stock. much Of It having been taken up
The differences TO be met on Thursday
are. however. enormous. and assist in the
present stagnatiOn of Americans.
MONEY AND EXCHANGE.-Mo on
call easy az 1is02 per cent. last loan at
per cent. prime mercantile paper. aga
~, per cent Sterling exchange easier,
with actual business I'm bankers bills at
4SfN4S4k FOR demand and at 4Sllf 0iNlN
for sixty days. posted rates. 4S2ff4S2l2
and 4SjQ4S5is b. commercial bills. 4SOhd
bS01. SILVER certificates. J60J6i2' bar
silver. ga. Mexican dollars. -. Govern
mont lonHa IRREGULAR. state bonds dull q.