The age-herald., 1898-04-01
In W aIi Street.


 New York; March S1.-There were rather mysterious undercurrents all day in the stock market, which nothing In the public news served to explain, and for which the gossip dn Wall street found numerous and contradictory explanations. The opening slump, in which losses ranged from l to 2 points and upward seemed to be In sym pathy with an earlier decline in London, the moro so the selling of Americans in London was said to be for New fork account. But the opening prices here proved to be the lowest for the time being and there was an eager demand immediately manifest for stocks all through the list This demand continued with only short periods of cessation throughout the morn ing session and rallied prices almost or quite to last nights closing level. The nat ural inference from this would be that at the earlier selling in London was for New York account it was for manipulative pur- poses. The strength in the New York mar ket found a response in a rally in foreign exchanges in the prices of American securl- ties, which were also depressed early in the day on pessimistic reports from Maor1o' The latter portion of the day saw per sitsent decline in prices in New York, with only an occasional period of steadiness, most stocks falling below the opening prices and closing at or near the lowest.
 Although nearly the whole days business was done at prices below last nights level and although the net changes are all on the side of the losses, extending between 102 points for most stocks and over that Tn special cases, it was very obvious that a large and rather eager demand for stocks was satisfied during the day, and it was the prevailing impression in the street that the opening decline was manipulated to give 0, rtunity to satisfy this demand.
 s.de from the bullish sentiment created among the room traders by this undertone of strength and the belief that the demand for stocks was due to some hidden motive or undiscosed information regarding Spain's intentions the general outlook was not considered promising.
 The money market reflected the uncer- tainty in the outlook more accurately than did the stock market. Landers are holding out for stiff rates for time money, and borrowers are not disposed to pay the rates asked as it is certain that any prospect of peace would immediately result in an abundance of money. The general neglect of time money market resulted in stiffen- ing call rates today. The exchange mar ket was dull and neglected, the further im- portation of gold being largely dependent on the outcome of the controversy be- tween the United States and Spain.
 The bond market was less active than stocks and prices showed a tendency to sag throughout the day. Total sales l.775,- 900.
 United States new fours registered and old fours registered were 1sc higher and fives Hc higher.
 Money on call firm 21ac. Eaet loan Pc. Prime mercantile paper 5@61a per cent.
 Sterling exchange firmer with actual busi- ness in bankers bills at $4.S3a 4fb4. 4 for de- mand, and s4.SOsl@4S1 for sixty days
 Posted rates s4.S11a@4S2, and $4.S41s@4.S5. Commercial bills $4S01414.S0A.
 Silver certificates 55%q56lac.
 Bar silver 55kc. TG
 Mexican dollars 4559c. | | Government bonds strong. sh State bonds dull
 Railroad bonds weak.