New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1898-03-07
High Low. Niche Feb.2e cgs Sales.
THE WEEKS OPERATIONS IN STOCKS

TIE WEEKS OPERATIONS IN SIOChS.
yau Street is waiting; It is waiting for def
MI. Official news from Havana and Washing
Fan and when that news comes the securities
r.rke;s will respond whether II is favorable
>, unfavorable Meanwhile the stock market
-ove. within narrow limits and under the in
suence OF the varying ideas OF board-roOm trad
o, The movement OF prices last week was
irregular with alternate gains and losses. and
Few significant changes at the end as compared
With week ago The Cuban situation con-
.nues 10 dominate speculation. and while II has
NJ, been changed materially. there is a per-
,.ntible increase OF genuine apprehension in the
Street over the possibilities Of friction between
N. United States and Spain before the Island
o.cuba is pacifed. Able Ananciers are not clos
,,g their ewes 10 the bad features Of the Cuban
sltuation Like the Federal Government they
arc making certain preparations for protection
N case 81 war They doing II quietly and
conservatively. and II an emergency arises IL
will be found that Wall Street is in good con-
d!tion 70 meet Il.
Banking interests are making money engage
snts sufficient TO protect their interests in case
O. another war scare or OF actual hostilties.
SPECTATORS OF limited means are not encouraged
70 engage in market operations. Weak accounts
are gradually being closed out. and accomnoda-
ton is not afforded 10 daring spectators be-
You'd a moderate limit Gold has been arranged
for in Europe as reflected IN the current i'm
ocrts and the money market is being closely
watched and protected against possible disturb
snc. Stocks are passing from weak TO strong
holders The floating supply OF securities avail
able for speculative purposes has been material
" reduced BY foreign purchases and by the local
buy.us by interests who can afford 70 hold in
definitely In view of the circumstances sur
rounding Inc political situation il would be
absurd 10 expect a buoyant stock market. de-
spite al the favorable influences affecting the
actual worth OF securities but 1t is comforting
tok know that this lack CT buoyancy is gradually
fr.nsthening the markets position, and that
when the Cuban affair, as far as this country is
Concerned has passed into history, the market
value Of stocks and bonds will again act In re-
spouse 10 legitimate business conditions.
The money market is moving in satisfactory
manner Owing 70 this countrys foreign cred
rs large amounts Of gold can be called from
abroad whenever the needs OF the local situation
make Il necessary. and. while higher rates for
money may prevail for some time 10 come. there
nno reason 10 expect stringency, except in case
o. war Even then it would cause compare
lively little hardship in this market. for the
majority az banking interests are we'll provided
.or in time loans made in view Of possible trou-
be between Spain and the United states. Easy
rates are not 70 be expected. The local reserves
are subject 10 reduction by demands from the
interior and now that the Treasury Department
hss revoked its order preventing the transfer
o. money BY gold deposits at the Sub-Treasury
not unlikely that the Withdrawals for ship
nent 10 the West and South will be resumed.
And Il should be remembered that the banks
- IN he
100000 on Kansas Pacific account and con-
siderable amount held on deposit for the Union
Pacific sale Regarding the last-named, how
ever. il is not likely that the Government viii
embarrass the banks at this critical period
Fortunately the Federal Treasury has large
available cash balance and the pleasing prospect
Of steadily Increasing revenues from the present
tariff law Receipts are now larger than ex-
pec,si by the most sanguine advocates OF the
Dingey BILL and It is noteworthy that In the
'wentyeight days Of February they were only
tr!he under those for the thirty-one days IN
January, the total income for the frst-named
month amounting 10 S2s.572, 00G against U.s.
lSoo0 In January.
y business conditions were the controIilng
factors In stock market speculation SUSTAINED
bull movement might reasonably be hoped FOR
Pigments through clearing houses last week
we're about IS per cent larger than in the same
ssk IN 1892 and compared with the CORE
fonang time a year ago. SO per cent larger
Harnd earnings continue heavy. BUSINESS
FAILURES are small In number. The iron industry
fnoTs extraordinary activity and the general
Industries OF the country as reported by the
commercial agencies give strong evidence OF
s'owing prosperity. The country's prosperity
comes from sources which must prove invuiner-
aoe IN International difficulties. The natural
sehstiveness Of the financial markets makes
neg susceptible 20 runors and developments
sHectng the relations OF this country Win
spain. and u ls not unlikely. that Stocks
VII sell lower before the Maine explosion ana
'1s Cuban war reach their final settlement
Inc highly professional character OF the s'ocH
A'Nsset and the absence OF public opefd'oiS ~
Ms last week are evidences OF the prevailing III
disposition OF outside buyers 10 engage in spec
u'etive transactions IN the present state OF pup
"S oncertainty. The advance in prices up 70
ICON on Wednesday and the subsequent decline
"iHosy and Saturday were the results OF pro-
e'siona buying and selling In which the Gu
'eh question was made to DO service according
" 'he changing moods OF professional specuia-
on' The public was not in the market nor
- London continue its buying operations %
- ae preceding week to any noteworthy extent
NF investment demand for securities was an
%" out its temperance may be expected Oh
' material concession In prices.
RAILROAD AND OTHER STOChS.
Ihe following Is the usual table giving the