The daily morning journal and courier. [volume] (New Haven, Conn.) 1894-1907, 1898-03-11
Financial.
Disposition on stock Market to Refrain
from Speculative Activity.

Disposition on stock Market to Refrain
from Speculative Activity.
New York, March 1O.--To-d days stock
market showed further contraction
in the volume of dealings and an apa-
thetic tone to the trading which indi-
Gated the prevailing disposition to re-
frain from speculative activity until
conditions became more settled. There
is continued uneasiness regarding the
Cuban situation, which finds it's re-
Election in the large offerings of secur-
tiles on any substantial advance. 1t is
the evident sentiment, also, that the
present conditions, so far as they are
known, do not warrant further vio-
lent decline in prices. There was a
strenuous attempt in the early dealings
to-day to mark UP prices with the pur-
pose of pinching small bear traders
and probably. also, for the purpose Of
realizing at the higher level.
This manoeuvre, which proved so
successful yesterday and Tuesday,
brought out such abundant offerings
that it was soon abandoned, and the
bears retained control of the field for
the rest of the day. A small amount
of arbitrage buying for London account
aided in the early resistance to the de-
cline, and the strength of special stocks
tended to the same end. st. Paul was
well supported in anticipation of the
dividend declaration, which was at the
rate of per cent. per annum, though
10 81
called an extra dividend. The strength
of st. Paul as compared with the other
grangers drew it and Burlington to-
gether and their prices crossed during
the day. St Paul yielded in the final
dealings and fell to the lowest of the
day. Tobacco was also strong feat
ure and helped to sustain the special
ties. It's tone was, however, decidedly
feverish. Pittsburg, Cincinnati, Chica-
go mad st. Louis underwent a remark
able series of fluctuations, as low as
41A and as high as A, apparently due
to contest between rival spectators
to uncover each others margin. The
stock closed unchanged. The unset
tied and uneasy tone on foreign ex-
changes, especially the weakness Of
Spanish tours in London and Paris
helped materially to defeat the efforts
to advance prices. The continued in
fux of gold failed to have any effect
in sustaining the market. Neither did
1t save the foreign exchange market
from falling an additional fraction.
There was perceptibly easier tone in
the rates for call money, loans at the
! oh do Oh
are still 10th to make time loans. A
large part of to-day's selling was at
tributed to washington account. There
is no doubt that the bears employed
the usual channels for Washington
selling for the sake of the effect, and
they accompanied it to-day by the cir
culation of sensational rumors regard
ing developments in the Cuban situa-
ton. Because of last weeks Wash
| ington selling previous to the publica-
ton of the news Of Consul General
Lees requested recall the market is
extremely sensitive to any demonstra-
ton from that quarter. To-day's net
declines are about point or over all
| through the list and effectually wipe
| out the advances of yesterday and the
| day before.
| Bonds were weak throughout the day
| in sympathy with stocks, the specula-
| tive issues leading the decline. Total
sales $1,665,000.
| United States new tours and the old
tours coupons advanced u and the
| fives u bid.
Following are the closing prices re.
ported by Prince G. Whitley bankers
and Brokers, As Broadway, New York,
and Is Center street. New Haven: