New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1898-02-25

The greatest havoc in prices was in the stocks
Of the Metropolitan Street Railway Company
and the Manhattan Railway Company Metropol-
,tan which closed on Wednesday at IA opened
at l41 sank 10 1872. and closed at 1854. which
made the loss for the day S7s points. Manhat-
tan. which closed on Wednesday at 1919. opened
at 1O5 dropped 70 IS and closed at 1Ol%a. so that
the final loss was points
The chief significance OF the break IN these
two stocks that II marked the cleaning-out
OF the Tanmany spectators. When Tammany
came into power the tip given out from
the throneroom that the underground rapid
transit scheme was to be Killed. and that Man
haitian and Metropolitan stocks were good things
% purchase The faithful fell over themselves
In their efforts TO get their orders into brokers'
Offices They had not much margin, and the
brokers' insisted for their own protection that
stops" should be put on the crders-that IL. the
brokers' should be allowed to sell the stocks If
they receded 10 near the limit Of the margin pro-
. yided. in case new margin should not be forth
coming
BIG TAMMANY LOSSES.
The Tammany plungers could not respond
when the brokers called upon them for more
margin and the brokers yesterday ruthlessly
sold them out Some OF the Tammany men
reached. which was 171A. ten days ago The
accounts OF these unfortunates were summary
closed within few days Of the date when they
were opened Men high in the councils Of Tam
many who counted on making great sums in
METROPOLITAN and Manhattan. were said 10 have
been practically bankrupted by the slump in
these stocks. Whether they will hold up the
companies 10 make good their losses remains to
be seen.
Standard OIL Trust certificates sold on the curb
al 800 against $40. the closing price on Wednes-
day. There subsequently rally 10 80
and then a decline 70 800 at the close. The high
record price vas AS. February 10
Government bonds felt the effect OF the
Ynors The new is of 1925 which most
largely dealt in. sold al 1851 which was de-
cline Of IL per cent from Wednesday.
The war scare extended TO the money mar
ket. The rate for call loans was advanced from
Q 10 per cent. but the final rate was 3 per cent
One thing that helped TO tighten money was the
drawing down by out-oftown banks of the bal
ances kept by them with New-York banks They
called for the funds in order to fortify them
selves in view OF the uncertainty Of the outcome
OF the Cuban question. During the day more
than So 900 600 in currency shipped 20
country banks The Treasury furnished
more than 81 100000 in small bills TO be used in
ehipuents IL received In exchange one-thou-
sand- dollar green backs and ten-thousand dollar
currency certificates Currency shipments n tho
interior thus FAR this week aggregate Sa.WO.OoD
The great in money heretofore has been
Que IN a measure TO the light demand in general
trade circles and in the interior. but mainly TO
th4 competition between the banks 10 lend
money on securities on call, or for short time
periods.
WHEAT FALLS OFF.
Wheat fell off on the theory that war would
prevent shipments TO Europe by the blockade
Of ports. May wheat wheat deliverable in
May) In which the speculation is heaviest,
closed at 81 OOA. the low price Of the day. The
closing price on Wednesday was 81 o2%s.
leading operator. speaking Of wheat in a general
way sa.d that while the receipts Of wheat at
The Northwest were running lighter than they
were al this time a year ago. the shipments last
year were abnormally large. The export de-
mand continued heavy for corn ana oats. ana
fairly good for wheat Reports from the winter
wheat belt regarding the growing crop were en-
couragtng and soil conditions IN the spring
wheat country indicated at early seeoing unueF
favorable circumstances. Good colo YEA, htr'
with ulenrv Of snow mad been the rule. and the
snow was now disappearing. leaving the ground
well nOistene6.
The effect OF the talk IS TO check activity
In the iron trade. Previous 70 the announce
rneut OF the loss II the warship Maine all indi-
cations in the Industry were favorable. 4 great
many contracts had been placed AT the West.
and the i'm provement in the business was work
ing eastward 10 noteworthy extent now
ho,-sv.r contracts not actually closed are being
held in allegiance. number Of contracts for
The erection OF high buildings In this city nave
been iad over.
Russell Sage breathed the spirit OF WA yes
to-day ne said "1 have private information
80 &c wink this country should demand a
big Indemnity from Spain. The sentiment OF
the country viii have no doubt. demand more
- Waved "a give money "a the Government
20 rehu,ld the Maine g untrue. y war broke
ont 7 would De willing 20 lend 20 the GoEernineht
twice the value OF the Maine, % F,V,Dv" -
,,cs,.o~v eho,,ld the Government make an
I've Of bones they would quickly oe taken no
matter What the amount. II crisis comes IL
viii ne found that the rich men and INSTITUTIONS
-, 80 o,1-tr,, will he the strongest supporters
Of ne Nations credit and independence Ihere
WIZ be no lack of SUPPORT either IN men Vi