The times. [volume] (Richmond, Va.) 1890-1903, 1898-04-17
WAITING MARKET
IS CONTINUING.
Dull and Depressed But No Special
Apprehension, a
STRONG FOREIGNWHEAT DEMAND
Gives added Firmncss Co the Chicago
Exchange Advances in
Corn aud Decentralization
Tobacco and Stock Markets.

NEW YORK. April lG-Ihe tone on
to-days stock dealings wmlo Gun anu anu
depressed. gave no very active Indications
az appreheusion. 10 was rather q Walt
iug market as FOR some time past INC
transactions outside of operations ID! pr
fossionals were insignificant, Selilns ~
traders found few seekers, and prices con-
sequently yielded very readily. ON the
other hand. when the professionals luIh-
ed buyers they found few stocks oHenhs'
and prices consequently easily lec9NSl,u.
Some eun recoverles in INC SeSol.e n.y." l,,,
were due 20 coverings 10y tho shoILs' out
they were not well held, ana the ilSl
showed net declines in nearly an 1855
for the most part confined 10 lIdctloii9
Tobacco absorbed "a large p"daSs V 1o, nn
dealings and suffered loss OF 'ts hel On
very heavy offerings brought out oy tnc
recent iump An price from squeeze OF the
shorts. ... ,,.,,o..,, ,
stronger position for the banks imam last
week The drain Of gold from Lohuou
has raised tho discount rate th,Ic anu
lfi0ened exchange on Lonooh "l cVi-'
mental centres, bat the gOld inoNeIucnSs
go New York continues without signs %
abatement Tho prevailing high rae TOT
limo money as per cent Tor All perious)
is considered 90 he largely supplemental,
though 30 is based on lhe cNpeCld''V'St
that rates will rise I'm consequence o.
war The disIucliuatiOu 90 borrow money
ON time at the existing rates rs hgW5NrL'
almost as marked as that OF the lchQeIs.
Intensely dull and prices lower Govern
mlnt bonds are an lower declines IN me
nfd price reaching IS III uie ny" = .,
roup0n % iu the second, lia IN the new
as reei-lcrcd. IA I'm tine old As, regis
tered. Iiu the old As, coupon ana u III
thc nves. H.. .,.,-o
1.sJ0O shares. including chicago Bur
Nnetou and Quincy, 9-O%. ~, faui, ''250'
..ar Denver and Gulf 6.3iO; American
Tobacco. G6 ISL; Sugar. l2's9O
The Evening Posts London financial
..1iccram saws. Pending the result OF the
,,fr I'm tho Cubau resolution I'm the
United States Senate the markets mere
are dull and stupid. Win loWtl IIIDts'
Consol- were to-day ls0i4 per cent IoW.I.
Americans were from JOc.NSl lower. Win
3D.. business doing the markets simply
following wall street. Spanish were
about 42io Gables from New YORK report
eu impression iu that market lhat AIntIl-
cams are chiefly manipulated now from
London. This must not be confused WIN
operations by English spectators. Such
uauiuulations ass exists I'm this market is
1n behalf of New York operators. Inc
money market was easier to-day.
MONEY AND EXCHANGE.-Money on
eHU steady at per cent; last loan aL =
per cent. prime mercantile paper, otsNp
per cent. Sterling exchange SleduN, MN IN
i,.i. for demand and az 470a,a4s0 for
sixty DAYS. posted rates. 4Soi204sl ana
4~f14Sii.; COMMERCIAL bills, 4'914'W2
silver certificates. jJA4Bi bar silver
glT.. Mexican dollars lJli state DohdS
dull. Government bonds weak railroad
bonds steady.
BANK STATENlENT.-The weekly
bank statement shows the ioi'owins
c9 saaS1s: reserve. increase. s2aoac5oo'
loans decrease S7697 900 specie m
s srs3ssd Ssi i POO ,yS d STo dctrease
sG.al7. 600. circulation. increase. S'o.Vo.
mo banks now hold S37,313OIj I'm excess
~ the requirements of the % per cent.
The Fiuaucier SAYS: Despite the heavy
and continued demand for funds from
rhe interior the clearinghouse banks
according to their statement lot lhe Sui
vent week We're able. not only TO holu
tr1ir own i'm the way of cash, but added
over two millions TO surplus reserve
making the latter item the largest report
cd since January LIST. In the ushL Oh
present events the statement must be re-
etr1ed lass favorable since IT reVals the
Wonderfully strong position OF the banks
ordinarily 10 would mean lower money
rates This week. but unless paclIlc suiu-
tIou of the Spanish crisis presents itself
no such reduction may be anuclpateu.
The oueratious of the week brought ABOUT
81 shrinkage of S769I,@oO I'm loans, due 70
continued Liquidation ana the ehl4It 80
s.uce of new business, the banks comm
iug themselves 90 the needs OF their own
customers. Out-Of-town banks, IL is
worthy or note, are doing some buying
iu This market. tempted by the stringent
refas DeDoefts were reduced B,3lIbvo,
owing largely TO Withdrawals OF balances
In the interior movement IS shown IN the
loss of So s24 200 i'm legal tenders specie
imports accounts for tho gain or S4,JJt'-
400 cold and the net result was an m
crease of nearly quarters or "a NH
lion cash The loss in dpOsitS lowered
the reserve requirements Sl,Jt94Ou. rms
added TO- the cash gain, swelled the sur
plus as above. The country has now I'M
ported or engaged over SOo,OOOOOO OF gold,
hut the New York banks to-day mold only
5000 600 more cash than when the move
ment started. The specie reserved mas
merely replaced the Withdrawals by inte-
gior banks, and IL IS a problem WhethSr
tnc future demand on New YORK VIII De
aa heavy as anticipated. Domestic eN-
change Is al "A heavy discount at interior
cities and from an that can be learned
Inc cash Withdrawals are being employed
al home. The fact that outside lustltu-
lions are loaning money here IS not WIN
out significance. The outlook iaVors con-
tnued imports of gold, and these win
the heavy disbursements being MADE by
The Treasury may operate TO produce an
aurprisiug IL rates proved 70 be the maxi
mum FOR the year. The country mas so
much money that 10 is prepared 70 meet
expenditure of an extraordinary magm-
tu8e without embarrassment. The trou-
be now is that this Is being hoarded
rather than put into use.