Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1898-04-23
STOCKS ADV ANCE
THE MARKET HIGHLY sPECULA-
TIVE ALI. DAY.
BELIEF THAT WAR WILL BIZ SHORT.
II IL Thought the Pope May stu
Prevail on spain tn Abandon Cuba
Bond Nnrkct Steady-ProVisi0ns
Decline.

NEW YORK, April 29.-When New
York operators IN securities got down TO
Wall Street this morning they found
cabled reports from London indicating
a somewhat feversh activity in the spec
ulation In Americans, with tendency to
rebound from yesterdays depressnn'
Cabled inquiries from the other sid9 in
dicated an eager anxiOusness there 10
know what action Wall Street will take.
This was sufficient to admonish the bears
who sold in yesterdays slump TO cover
their contracts. The covering OF the
shorts was coupled with some buying
for London account. The result was very
sharp advances all around. There was
only a slight reaction at the close.
The market was highly speculative all
day. In the railroad list, the Changers
and the lnternationals led Ia the trading.
The condition Of the worlds money
market had salient effect on the secu-
rity markets. although the rates Tor
time money and commercial paper re-
NAMED firm Call money was to be had
at %. The resultant relief of the Lon
don market from the pressure for gold
accompanied by a rise In Berlin exchange
on London gave promise OF easier money
there, and relieved the situation IN rams
as well. The result was a cessation OF
the heavy liquidation for Paris account.
The selling of American securities, when
had been large for both Paris and Lon
don account. was checked. These i'm
proved conditions were reflected back ON
New York and helped recovery.
WAR TO BE SHORT.
There were. besides sanguine eXpecta-
lions that the war would be short or
that the Pope would still prevail upon
Spain 10 abandon Cuba.
The bond market was not as active as
that for stocks. and prices held only about
steady. Total sales. SS2j 000. United
States new As. registered. declined J-s'
do coupon. -. and the old as, register
ed. IL i'm the bid price. Others unchanged.
The total sales of stocks to-day were
237CCO shares including Chicago, Bur
Iington and Quincy. 1850; Louisville and
Nashville. 5.&S; Manhattan. 7.1j0; North
ern Pacific. 1850; Union Pacific preferred
II. l2O: st. Paul. 1852; American Tobacco,
81 765; Peoples Gas. 1922; Sugar. 1880.
MONEY AND EXCHANGE.
3P. M.-Money on call steady at 2a2 II
per cent: last loan at ? per cent; prime
mercantile paper, GH7 per cent
Sterling exchange firm with actual bus
mess i'm bankers bills at $Ls} l-2dSi.S 81
for demand. and $i.79 3-i0$tS0 for sixty
DAYS: posted rates $3.50 1-2n$a, and
$.Sia$iN1-2; commercial bills, 3i7sp
$i.79 y.
pANK CTEARI\GC
The total clearngs in the United states
for the week. were $lll309i.7S6; per cent.
increase. 1874; exclusive of New York.
Si76O2l. 400: per cent increase. l52.
FOREIGN STOCK MARKETS.
The Evening Posts London financial
cableeram says: The stock markets
opened fat to-day. on war conditions,
and then recovered. Spanish As ana
Americans led i'm the recovery, but both
closed under the best. As Indicated IN
ureyious dispatches. the condition OF the
I,ondon markets favors stagnation, rather
than heavy selling. as result OF the
VAR but on the other hand no immediate
recovery Is now expected. but lhstedu'
gradual dwindling Of prices.
cold is i'm less demand for New YORK.
at II 1O2-id.. but eagles left the Bank
of England to-day. .,
The Paris BourSe was distinctly petler
on the London lead. but the financial out
look there is gloomy. Whether France
viii assist Spain financially, Is much us
cussed. .,,.-..
NEW YORK STOCK QUOTATIONS..