Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1898-03-17
STOCKS SHOW GAINS.
SUBSTANTIAL ADVANCES ALL
THROUGH THE LIST.
general OUTLOOK MORE PEACEFUL.
Continued Preparations for Defence
DO No. Interfere with This Pros
Heavy Liquidation I'm Wheat.

Heavy Liquidation I'm Wheat.
NEW YORK, March 16.-The early
strength in to-day's stock market was a
repetition of yesterdays movement, but
prices resisted the late pressure for a de-
cline, and as a consequence show sub
stantial net gains all through the list.
The bulls had the advantage also Of
higher prices on the London Exchange.
and although prices Immediately rose
~buoyantly above the London parity, there
vas conspicuous buying for London as
late as business was done in tina market.
The London buying was certainly due
to a feeling at that centre that there IS
a more promising prospect as to affairs
between the United States and Spain.
This feeling was shown also i'm quite a
buoyant tone for the Spanish As, which
rose l1-4 in London and 12 in Paris.
There was undoubtedly a feeling preVa-
lent in New York also that the outlook
was more peaceful, and such of the days
developments as had a more threatening
aspect were ignored. Either the Spanish
Governments semi-Ofiicial announcement
Of its opinion on the movements Of the
United States fleet in Florida waters or
the statement that the attention Of the
United States had been called to this
opinion by the Spanish Government,
would have been sufficient to demoralize
the market a week ago, but the under.
lying conviction in Wall street is that
the authorities in Washington have a
hgVa IF ,,.a..ftsI nnttIarn.pf Th. an
tinued preparations for defence and such
incidents as those OF to-day do not wholly
dissipate this conviction.
The hope Of a successful adjustment OF
the traffic rate controversy in the North
west was quite an important factor in
the advance here, and in London for
Americans.
The local and Industrial specialties led
the advance, but the Changers, North
westerns, and international stocks in the
railway list were also Conspicuously
strong.
Heavy additional engagements Of gold
for import were made to-day, without al
fecting the steadiness OF the exchange
market below the gold-impOrt poipt. The
total gold shipment from Europe has
now reached 81, 600 coo on this movement,
and ii shows no sign Of subsiding. i'm spite
of the growing tightness Of money i'm
ondon and other European centres. The
accumulated stocks Of exchange are sup
posed to have been somewhat reduced,
but there is undoubtedly a large supply
still remaining, and the continued heavy
outward movement of merchandise Is con-
stantly bringing new bills into the mar
ket. which are sold against gold imports
as fast as they come forward.
Bonds were strong throughout, in SYM
pathy with stocks. Total sales, $l,S3O,CO.
United States new As and the Us, and
the old As, coupon, advanced IL bid to-
day.
The total sales of stocks were 81, 800
shares, including Atchison preferred, s.
O2O; Chicago. Burlington and Quincy, A.
900; Louisville and Nashville, 9.S5j; Man
haitian, 27.135; Metropolitan Street Rail
way. 1880; Northern Pacific, 1870; do,
preferred. 27,3O5; Rock Island, 1880; st.
Paul, 1850; American Tobacco, 2,434; Peo-
pies Gas, S,GO5; Sugar, 1896.
MONEY AND EXCHANGE.
g p. M.-Money on call, steady at 1920
21-2 per cent; last loan at 2 per cent;
prime mercantile paper. 4l-2a5 IL per
cent.
Sterling exchange steady, with actual
business in bankers bills at $IS3 1-20
$4.S SIS for demand, and $4.SO1-i for sixty
days; posted rates, $LSl l-2Q$i.8 and
s4S4 1-2d$4.S5 -; commercial bills,
$3.50 1-2d$.S9 ga.
silver certificates, $3.50 81. Bar silver, |
50 II. Mexican dollars, IS.
Government bonds strong.
FOREIGN STOCK MARKETS.
The Evening Posts London financial
says: There was a general
Improvement in the stock markets here
to-day, mainly owing to the bears scram-
in. There was little fresh buying. |
The feature was a sharp rise in Spanish
As American and Canadian stocks,
being benefited by the impress
sion that Spain and the United States
would do their utmost to settle matters
diplomatic lines.
The market was fayorably affected by
the hopeful view Of a speedy termination
of the Canadian Pacific rate war. The
close was a trihe under the best, except
for Canadians and Grand Trunks,
which were booming I'm the street at top
nrices. Mines joined in the general rally,
and all foreigners. and South American
stocks were better, being led by a rise
of two i'm Spanish As, on the official an
that the April coupon would
be paid.
york hut IL Is believed in good quarters
mat II the political situation improves
demand for gold Ia cease. There
vyas an easier tone In to-day's money
market. owing TO the report that the
government will paw upward OF S2i,VW
Treasury bills.
NEW YORK STOCK QUOTATIONS.