The times. [volume] (Richmond, Va.) 1890-1903, 1898-03-18
HEAVY DECLINE
IN STOCK VALUES.
Complete Reversal Of Sentiment on
the Stock Exchange.
AN ADVANCE ON SPANISH PAPER
IL Reported From Foreign BOurscs.
Trading Dominated 10y Several Inn
portant FactOrs-Sugar Absorbs
Much Attention.

NEW YORK. March 17.-There was
complete reversal Of sentiment on the
STOCK Exchange to-day compared with
that Of the earlier part Of the week, and
prices saggcd almost continuously. The
losses averaged nearly per cent. in the
standard stocks and were more pro-
nOunCed in the specialucs. In one case
the decline exceeded per cent. Trading
was dominated boy the announced COM
plctiOn Of the Maine Board OF Inquiry
report. the failure Of the Pacific roads
60 reach an amlcable agreement upon
passenger rates, and the heavy selling by
houses with Washington connections. a
factor which had litle influence was
tho continued influx OF gold. The present
movement, including to-days engage
mcnts of Sl.3oooup and the >'.FDrl en-
route from Australia. IS I'm excess Of $50
10000 The continued ease of money
likewise attracted little attention. The
resumption of uncasincss as 10 the gen
eral Cuban situation seemed not 70 De
shared on the foreign bourses, where
Spanish As advanced. although TINS may
have been due 10 the anuouncement mat
tho interest payments. which had ocen
in doubt. would Doe made Inc bears or
fercd round amounts Of the grangers,
Sugar. MAMMA tan. metropolitan street
railway and other prominent securities.
The absence OF support by leading hnan-
Cia interests was readily perceived Dy
the advocates of lower values ana utll-
lied 90 the fullest extent LONDON was
rather aDathetic and early prices AFFORD
I'D little announcement 90 either side.
European cables reported tho London cN-
changes closing exceedingly weak IN re-
Spouse 10 this side Sugar absorbed the
bulk Of the traders attention during the
day at rcCeding prices
Options I'm railway and miscellaneous
bonds showed "a further contraction ln
dealings with the aggregate reaching
81 $4,000 Tho tendency of the market
was downward throughout and as has
been the ease of late a large preponder-
Rnce of the dealings centering IN a rev
aH..H frr.. ar
Government issues indicated losses Of -
or %
shares. including Chicago. Burlington and
Quincy. 81 30. Louisville and Nashville.
$3.50. Manhattan. 23 1'6. Metropohlah
Traction. $50: New York central 23,l"3,
Northern Pacific preferred 144i3; Rock
Island iO $50. ST. Paul, 23.73j, American
Tobacco. 29O1O, Sugar, Gi5GJ.
The Evening Posts London financial
cabicgram. I'm the absence OF bad pollcal
news the stock markets here continued
steady to-day. The chief feature was the
recovery Bon investment stocks on the
prospects of temporarily cheap money.
Prices however. closed under the best,
notably Americans and Grand Trunks.
Canadian Pacific was strongly bought Tor
Montreal. Foreign stocks were hrm on
Paris buying. I'm spite of the fractional
decline iu Spanish s.. a Greek loan rs
expected next month. IL Is between five
ANA six million pounds. OF which the
greater part is for Turkish Indemnity.
The interest is 10 be 2ia per cent, bu, the
issue price is not yet known. Financial
circles here regard attentively your pur-
chase of Brazilian warships. Gold Is in
less keen demand for New York. More
was Withdrawn from the Bank of France
to-day. 10 is understood that That inst-
tuition is showing more Willingness TO part
with IT'S gold.
MONEY AND EXCHANGING on
call easy al 1Isu2 per cent. last loan at
per cent. prime mercantile paper aga
3D., pcr cent Sterling exchange steady.
With actual business In bankers bills at
lS1l,nISI for demand and at 1909 4sl
for sixty DAYS. posed rates 4s1Hd4S3
and 4S4i.n4Sj1e: commercial bills. 4SO0
4SOf9. Silver certificates. jjuJjat; bar si-
yer. 49,. Mexican dollars 4i34. Govern
ment bonds weak. State bonds steady;