Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1898-03-22
STOCK MARKET DULL.
REFLECTION OF DOUBT AND HEsI-
TATION OVER CUBAN NATTER.
BOND MARKET ALSO DULL.
Money on Call Eusy-sterIing FIX
change Firmer-Wheut shows Lit
yance-ProyisiOns Dull.

NEW YORK. March G.-The only
feature dscernible i'm to-day's stock
market was its dulness. This dull
ness was the exact reflection, how
ever, of the doubt and hesitation
which prevail in all financial cir
Giles over the next weeks probable out
come Of the Cuban situation. There was
limited volume Of sales for short ac-
count at the opening. which resulted in
sharp declines TO practically the low
point of the day. There were lower
prices made i'm some few stocks later. in
the aimless drifting of the market. Bust
ness was, however, almost stagnant after
the opening until near the close, when
there was a sharp rally in prices appa-
rently due TO the rebuyins of stocks sold
at the opening There was no spirit or
animation in the rally, however and
prices drifted downward again at the
close.
There vas only a small volume of
stocks Offering all day, but the demand
was almost nothing, and the result is
that prices are lower all around, losses
reaching a point i'm some Of the leading
specialties. There is every indication Of a
large outstanding short interest in the
market, but in the presence of the posi-
biities OF the present outlook this inter-
est is very persistent in declining TO
cover.
1t is the prevailing belief that early de-
velopments al Washington will include
the report of the Maine Board Of Inquiry,
and the Presidents message on that and
Cuba. This keeps purchasers out Of the
market, and on the other hand, the large
short interest warns the bears to proceed
with caution. The consequence is semi
stagnation, such as was witnessed to-
day. Such selling as there was was at
tribnted to Washington account, and
there was some selling also by large in
dividual operators. London was a seller,
but not to a large extent. The list Of
stocks and bonds that moved at N was
short one, the market being narrow.
Sterling exchange stiffened slightly to-
day, and no engagement was announced
of gold for import. The outlook here Ia
vors easier money. on account Of the gold
importatiOns already arrived or on the
way. Banks are not yet disposed to make
time loans, and great caution in the buy
Ing Of commercial paper is also manifest.
The bond market was on correspond
ing scale of dulness with stocks, and
prices were Jower. Total sales. $780, 0O.
United States new As were IL lower, ana
the old as, registered. Ii lower, while the
old As, coupon, and the rs were IL high
er bid.
The total sales Of stocks were 09,1OO
shares, including Chicago, Burlington,
and Quincy, 1865; Louisville and Nash
vile, 5,2i0: Manhattan, 1855; Metropolitan
Street Railway, n,li9; Northern Pacific,
preferred. 1852; ST. Paul. % coo; Unisn Pa
cifc, II ,93j; Sugar, 5l,SH
MONEY AND EXCHANGE.
3P. M.-Money on call easy at 3-4q
per cent: last loan, / 81; prime mer-
camille paper. 4l-2a5 ~ per cent.
Sterling exchange firmer. with actual
business I'm bankers bills at $4.aQS4Sl Ia
for demand and S4Sl 1-4q$4.N 1-2 for sixty
DAYS. posted rates. $iS2HAS2 IL and
$l.S5d$4S5 IL; commercial bills, $3.50 LA
$3.50 "a.
SILVER certificates, % 5-Sa5s. Mexican
dollars, 40.
Government bonds weak. State bonds
dull. Railroad bonds weak
STOCKS IN LONDON.
The Evening Posts financial caolegram
saws: The stock markets here were life
less and featureless to-day. Americans
were stagnant and dull, pending the re-
port on the Maine disaster. and the dis
closure of President McKinley's plans re-
gardinx Cuba. Arbitrage houses took
stock When it was offered with fair mar
gins. but otherwise there was no support
for Americans. Spanish As were weak
Brazils were fiat, the exchange being the
lowest on record The Indian budget was
better than anticipated. The decline In
French exchange Is believed TO be parity
due TO sympathy with the lall Oh money
To,es here. and partly to the fact that
The Rank of France is parting more
freely with gold.