The Anaconda standard., 1898-03-17
THE WORLDS MARKETS
Daily Record of Commercial and
Financial Proceedings.
NEW YORK STOCK REPORT
Digest of Exchange News-Mining Stocks.
Metal Quotations Wool Prices and
Movements-Grain and Pro-
duce-Review or Trade

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
decline and az a consequence show sub
stantial net gains all through the list.
The bulls had the advantage also of high
er prices on the London exchange, and
although prices Immediately rose above
the London parity, there was conspicu-
os.s buying for London as late as business
was done in the British capital The Lon
don buying was certainly due to a feeling
at that center that there is a more prom
ising prospect as to affairs between the
United States and Spain.
This feeling was shown also I'm quite
buoyant tone for the Spanish As which
rose IL in London and " in Paris. There
was undoubtedly prevalent in New York
also a feeling that the outlook was more
peaceful and such of the days develop
ments az had more threatening aspect
were ignored Either the Spanish govern
ments official announcement of its opin-
ion of the maintenance by the Uuited
States of the fleet in Florida waters or
the news that official attention had been
called to this opinion by the Spanish
government would have been sufficient to
demoralize the market "a week ago. But
the underlying conviction in Wall street
is that the authorities at Washington
have come to indulge hope OF a peaceful
settlement The continued preparations
of defense and such incidents as those
of to-day do not wholly dissipate this con-
viction. Nevertheless operations are not
on a large scale, pending a definite deci-
sion of the Cuban problem. The supply OF
stocks was not large to-day and prices
moved easily upwards without any heavy
transactions. part Of the buying was
attributed to large bull interests, but
much of it was also supposed to be the
covering of the short selling which caused
the late decline yesterday. The bears
were apparently averse to renewing their
attempt to-day and the high level OF
prices was not seriously impaired. The
hope of successful adjustment OF the
traffic rate controversy in the Northwest
was quite an important factor in the adj
vance here and in London for Americans.
The local and industrial specialties led to-
DAYS advance, but the grangers, North
westerns and 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 point The
total gold movement from Europe on this
movement has now reached s24, ,0000o0. and
il shows no signs of subsiding, In spite OF
/ the growing tightness of money in Lon
! don ard in European countries. The accu-
| mulated stocks of exchange are supposed
| TO have been somewhat reduced, but there
! is undoubtedly a large supply still re-
! naming and the continued heavy out
| ward movement of merchandise is con-
! stantiy bringing new bills into the mar
I ket which are sold against gold imports
| as fast as they come forward.
Bonds were strong throughout in sym
pathy with stocks. Total sales, 1880, 0G0
i u. s. new AS and the SIS and the other A.
coupon each advanced Is bid to-day.