Evening star., 1898-02-26
Prices on the Stock Board Were
Steadier Today,
DEALERS ARE AWAITING RESULTS
Result of Maine Inquiry VIII Affect
the Market.
GENERAL MARKET REPORTS
pecinl Dispatch to The Evening Star.

Specinl Dispatch TO The Evening Star.
NEW YORK, February 26.-Today's stock
market served to emphasize the temporary
return to conservative operations which
became a feature of the trading after the
first hour on Thursday. The net result Of
the weeks transactions. based on the aver
age price of ten active stocks reflects n de-
cline OF per cent. most of II accomplished
by the indiscriminate sales in the hour
above mentioned.
In the active list 81. Paul suffered least
in the depression. and Metropolitan and its
competitors figure conspicuously in the op-
posite extreme.
individual declines vary from to Il per
cent by comparison with last Saturdays
final figures. That the market closed to-
day under conditions more indicative o.
caution than of fright is simply additional
evidence of the firmness OF its natural
foundation. The happening of extraordi-
,ary events has indicated the best finan-
cial judgment as to the extraordinary char
acter or the years stock market
For a time the market seemed to waver
on the verge of a disastrous panic. but this
tendency was checked by the timely buy
ing of lsrge interests who saw wisdom in
protecting rather than in sacrificing hold
ings.
The report of the board of INQUIRY, no
pronounced imprs ssion on prices In
view of this fact there is every argument
against extensive commitments in either
account.
The uncertainty very naturally results in
frequent changes OF position on the part OF
the professional trading element. and a few
erish speculative condition is reflected The
long account, favored as it is by the condi-
tons which usually determine prices is
not easily abandoned even in the face of
existing uncertainties. For the time being,
he wever, there is no indication of this ac-
count being extended except as a purely
protective measure.
IL the market can be held around it's
present level during the anxious waiting
period of the next few days. the most that
its friends expect VIII have been accom-
plished. The buying of securities for Lon
don account has been a pronounced iufiu-
ence for good during the critical periods OF
the past week. These purchases were a
feature again today. and indications are
bic to demand from that center
whenever the local mistrust of values re-
suits in establishing bargain prices.
The money market. which has been watch
ed more than usual because of recent
events has acted nationally ard is relieved
of its adverse influences ny reason of the
enormous credits in Europe subject to
draft.
of over S0n.e1 in loans as the result OF
the weeks stock liquidation. Deposits have
been decreased S9.346.:p, and the lawful
money holdings are less than last week by
something over S5,oo.pp. all in legal tend
erS.
The one item of gain is specie, in which
an increase of s2.352. 100 is reported. The
net result of all changes is reflected by a
decrease of S2,129.ooo in the surplus re-
serve, This showing is slightly more favor
able than was generally expected. though
fully rejecting the evils of the weeks
market results.