The times. [volume] (Richmond, Va.) 1890-1903, 1898-04-21
STOCK MARKET
STILL HOLDS UP.
Firm Resistance to the Depression on
Foreign Bourse.
EVIDENCES OF MANIPULATION
For the Purpose of Max ing Last Prices
Show Gains-FOreign Depression
Due Largely Co the Panic in
Spanish FourS.

NEW YORK. April Gothic New York
stock market offered firm resistance all
day 10 the depression which was reflected
upon 20 from every other exchange In the
world, It's declines az no time reaching
more Than "a fraction OF a point I'm the
active stocks. In the final hour. after
trading on The foreign bOurses had been
suspended FOR the day. a lively movement
90 bug developed ON tho New York cN-
change. which wiped out practically all
the earlier losses and lifted the level or
prices sharpy above that OF last night.
The final recovery was brought about by
che dissemination OF rumor that the
period allowed Spain Tor reply 10 the
ultimatum had been extended 10 Mon
dag. with a chance that a settlement
would b. effected before that time. There
were some evidences Of manipulation lot
the purpose of making last prices snow
gains. a broad view OF the hnanclal
world shows that New York was less
affected hy the crisis than any other
financial centre. AT no time were prices
depressed 10 the London parity AS
consequence there was large arDlfase
selling here OF internationa stocksl New
York prices showing q fair prOht over
London quotations. The depression IN
London and on continental bourSes was
more due 90 the panic IN Spanish $ thah
Go any other one cause. These securities
fcu ~ In London and ga In Paris ON
forced liquidation. due 20 financial dlItl-
cuitics iu France and Spain. lt is 10 be
observed chat American securities nave
held fairly steady as compared with the
marked weakness Of Spanish securities.
Doubtless a part Of the selling IN New
York for foreign account Is due 20 an
effort 10 cQualize exchange conditions.
Iuat these offerings should be SO well
absorbed Is a demonstration Of sound
financial conditions existing IN this coun-
IT'S. Call money loaned to-day at . per
cent. although time money continues 10
Id firmly held az 6 per cent.
Tho bond market was slightly more ac-
tive and after early weakness. showed
some rccOycries. Total sales. 100000
United States new As coupon advanced
81. and do registered IA per cent. In the
bid price others were unchanged.
The total sales OF stocks to-day We're
26tT0 shares. including Chicago. Burling-
ton and Quincy 2J.2lf. Louisville and
Nashville Gs4j. Manhattan 1861: Metro
UoUtan street railway, $50, New lOrk
Central. 1914, Northern PACING. DIS
do. preferred. Hiss. Rock Island. 113j.
ST. Paul $3.50. American Tobacco, %
uHl Sugar 4NSl5.
The Evening Posts London financial
Dshlegram says The feature In the STOCK
markets here to-day was the Aatness IN
foreign stocks. the Paris Bourse being
utterly dcmoraHzed 10y the continued fan
in Spanish fs which closed 40 the lowest
49, The weakness in consols caused the
notion of a. rise iu the Bank OF England
rate tomorrow. and on this belief dis
count houses declined TO work. and all
such business was done az The bank ltseil
rates castor. Americans were almost un-
saleahie. but there were no great pressure
tO SELL and "a bear position at least IN
50 Paul and Louisville now undoubtedly
exists. Tho manner In which New YORK
ahS0rbe stocks is much marvelled at
Tho markets here are now Thoroughly
fre PARIS Boursc viii feel the blow Sc
vcrclv. As instauci0g how the market
hero b. now looking ahead, 10 Is common
talk that war means the fnal deteat OF
thr silver marty in the United States.
MONEY AND ENCHANGE.-Money on
cain steady at 202i2 per cent; last loan
aL per cent. prime mercantile paper
-I-6G u.r cont. Sterling exchange steady,
with actual business in bankers blliS az
aSpt a4SGig for demand and at 419A % tSo
and 4S~q4SSi.. commercial bills 41Siap
47QIs silver certificates. $50 JG'.; bar sill
ycr S6. Mexican dollars 45i. Govern
mont bonds strong, State bonss suili RAIL