The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1898-04-25
FINANCE n TRADE
The Features of the Money and Stock

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NEW YORK. April os.-To-day
the stock market was "%dIscnunting
peace" IN the language of brokers. This
was done by lifting prices a notch
higher. The advance hesitated at the
opening. owing TO a rcactionary ten
dency in the London market, following
the receipt of the report there that She
Paris had been captured by the Spanish
and the cruiser Topeka sunk In a culli-
sion. Wall street was incredulous as to
the capture OF the Paris up To the time
of the closing OF the exchange at noon,
and the identity OF the foundered vessel
having been established as other than
the Topeka. the market was relieved
from that cause Of depression. On the
other hand, much was made Of the cap
ture Of another Spanish prize by the
cruiser New York. There was reported
an active demand for securities in Lon
don but the buying here for London ac-
count was not large as prices here ruled
above London parity. There were peri
DDS OF reaction, but the publication, of
the bank statement caused renewed
buying and lifted prices to the highest.
They were shaded of by renewed ap-
prehensions as to the safety otthe Paris,
the closing being easy below the best,
but at net gains throughout, reaching a
point in some cases. The volume OF the
dealings WINS o large. the Industrial
epecialties being favorltes In the trad
Ing. especially Sugar and Tobacco.
The spirits stock were also quite
prominent. The general feeling In
financial circles Is that the war. Is mo-.
likely to he Frustrated. apd only some
unexpected accident or disaster could ef-
feet the conviction that Spain must
speedily succumb to superior resources.
A feature OF the day was the hardening
In exchange, demand sterling bills rising
to 81 81. This rate, It Is calculated, pre-
cludes further gold imports under pres
ent conditions. Last Saturday the belief
was held In Wall street that a dead lock
In Congress- over the Cuban intervention
resolutions was likely TO cause delay in
the elimination OF the crisis and In the
meantime the mediation by the nope
with Spain a likely to Induce a peace
able settlement. The stock market had
to contend during the week with the dis
eipation OF that belief through the
adoption by Congress OF. the Joint reso-
lutlon. the dismissal OF General Wood
ford. the United States minister. by
Spain. before delivering the Presidents
.ultlmatuIR, the blockade OF Cuba by the
Meet and the. practical outbreak of the
war. II has felt the reflected effect Of
the panic In Spanish Tours on European
bonTses. and the resulting forced llqul-
dalton OF American securities. Yet the
week closes with a great part of the cx-
tcrnal losses In prices recovered, net, de-
cllncs not exceeding 2 points In any OF
the prominent leading stocks. 1t Is note
worthy also that the low prices OF tile
week were not as low, except IN a. few
cases as these on March e, which mark
ed the lowest point Of the decline after
the blowing up of the Maine. The or
ceptlons were International stocks which
nre favorltcs with operators on foreign
bollrses. The grounds for, the confidence
u 1mpr1vcmcnt In the stock market
VIII be found IN money condition. To-
days bank statement shows the surplus