New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1898-03-15
BONDS.
THE DAYS OPERATIONS IN sToChS'

,.o. made IN Saturdays stock marhe'
~, hy sharp advances yesterday '"'''
it, ,,ovement on the part OF 'he si' 80
800 ,nor tho better markets In Lohooi ""N
~. ohss,cc 81 new disquieting develop'lie"'' "
,,..,,rc,or or Havana led 10 mafkeo
=, tho opening. with advances Oh -uo
~, o., the majority Of active stocNS' !"
o.. hol, hour business was heavy anu
A.. u,de The early gains were foiio"e" ''
.,uors q. pcr cent and above, anu 'n' -
,,,rr wer. succeeded by rehe"eu
movement in which the best prices Vi VIC
ware recorded In the last two hours '"'
tet -elapsed into dIlness, but '"iuo'
,,,ned their strength until the close
,,,o ,,s fact that stocks sold higher 'ne'e
ros little evidence Of important suppoi"
tain substantial speculative interests "e,'
On he heavy buyers, and the room 'a'eH' "
.rol was active IN covering Its snort 'o"''
- % tho larger houses were prominent o"
,,o ,or- side OF the mtrlte'. On the contrary
,,o ,os,.ramad interests IN many cases "c'e
h.o,y seuers A sudden Jump In prices IKE ''a'
,,,o...d ., tho opcning results from an over
.aoa .,or, account rather than from any
,rar,rr VOWS or good buying, and furnishes
,a,, ,,,s,ra,ion OF the theory that technical
-, conditions can put quotations hlgher
,,h.n tho outlook Is most dlscouraglhB' A"c az
vance did not mark the beginning OF W."
movement and II not considered p.oo"oi.
Tho, SATURDAYS level was the lowest tha' "o"'N
r. reacbed before the settlement OF the Ouoa"
ores.ion 1t Is still market N WHO" WIZ
changes will undoubtedly take place aho NV
a market in which the public con s-1eI! opei"''
The Span.sh-Amer situation prese"'eu ."
...,,,ro. uorse than those prevailing Saturday
,-o,..r,.n, FOR the better. Conservative houses
encouraged selling rathe' than ouF"s Gnu
ro,ewor,hy that the prices of Government oohos
and Spanish securities were again lower "'''e
the inward movement in stocks was marked III
400 ,.sues which have been heavily sold D!
o,srstors for TIE short account. The snort IN
,srss, was prcpaby pretty we'll eliminated ana
O, Tho close many careful observers expresseu
,,s on,n,on ,hat prices would sell lower oeiore
,ouo,-ow might Current rallies give the mar
10, m aonearauce OF strength which IL really
does rot possess No sensible person IS pess'-
mistic over the outlook OF securities values ou'
Al present It is tudicious 10 take the We" 'hut
IN. Cuban situation is more In FAVOR oi io"oi
prices than sustained upward movement"
Traders said yesterday that they mad receNeu
the impression that the countrys difncuiues
with Spain would be settled without resort 10
arm. They could not tell where the impress
sion originated.
Discounts were dearer In the London MARKET
and cable advices reported a general expectation
OF an advance this week by the Bank OF Eng
land in It's minimum discount rate " gold with
drawals continued. OF the gold engaged for i'm
port yesterday. s1,O00.OOO was taken from the
Bank Of England. On the London Exchange
American securities were higher on a demand
attracted by Saturdays break. while on the
local exchange foreign buying amounted TO
about $4,000 shares. The last-named. however
was not unlikely due 10 operations engineered
from New-York rather than TO legitimate Eu-
ropean buying.
The majority OF active stocks recovered the
full losses made on Saturdays slump, ard the
late buying appeared 20 be more confident. The
more important net gains were made by Sugar
Refning American Tobacco Brooklyn Rapid
Transit Burlington. 81. Paul. Rock Island. Con-
solidated Gas Manhattan. New-York Central.
Peoples Gas. Northwest. Western Union. Jersey
Central, Puman's Palace Car. Union Pacific.
Missouri Pacific. and Metropolitan Street Rail-
way There was no marked increase in outside
interest while Street opinion at the close led
10 the conclusion that IL was en- excellent mar
ket in which 10 sell long stock and for renewed
operations for the short account.