The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1898-03-27

coed / per cent. in the leading inter
national favorites The specalties gam
cd from ~ to points, with the maxi
nnim Improvement in Third Aventic
The trading was on an enormous scale
for Saturday. the dealings for the snort
session exceeding recent full days totals
The week just ended witnessed vig-
orous resumption Of bear aggression 0W"
ing to the development Of various int1u-
entail factors which were utilized to
their fullest extent by the advocates of
lower values. That their efforts were
signallv successful can I've best illus
trotcd hv a resume of the final prices Of
n week ago, the comparison rejecting
losses in the dividend paying stocks of
from 21a TO points, and the specialties
suffering to the extent of from 6 to H..
The Cuban question continued the over
sladowing feature and the various
phases of the situation as indicated by
the tender of Washington advces fur
niShed the lever to alternately advance
and depresS prices. This condition Of
affairs was augmented by the OutcrUp-
ping of numerous other considerations,
which also eXerted Il marked bearing
on the financial and commercial situa-
ton. The market throughout was high
~ fcverish, and the ready response to
the slightest efforts in favor of either
account afforded SOME of the active IN
tercsts an opportunity to make frequent
turns.
The attitude of foreign operators was
regarded with considerable interest, and
quotations from London from day to
day were eagerly scanned as indica.
tive of sentiment in the leading foreign
financial centres. The great bulk of the
arhitrage operations favored the short
account. but evidences that the foreign
operators were disposed to accumulate
moderate lines on various levels steadled
the market and stimulated covering.
The bears tested the market frequently,
and where evidence of support was lack
ing Il stock was vigorously assailed. The
grave aspect of the European situation,
which gave promise of serious compli-
cations, and the reluctance of the sub
stantial interests to bolster the market
until matters assumed Il more cheerful
aspect, intensified the air of depression.
which permeated the security markets.
The dramatic experimenting in the
Senate describing the horrors of the
condition in Cuba, aud the earnest APP
peals for intervention by the United
States, combined with the announcement
that the Spanish torpedo fleet had left
the Canary islands, en- route for Porto
Rico. made the climax of the mid-weeks
developments. Those considerations
were supplemented by the semi-official
statement as 10 the Maine calamity,
which afforded the bears an opportuni-
ty TO make demonstration against the
market on Saturdays opening. The sub
seduent dealings showed tirmness, owing
to the concentrated support accorded the
list by powerful interests. The unfa-
vorable factors enumerated outweighed
numerous healthful influences consisting
of railroad statements. favorable none
tary outlook, encoura ging trade advices,
and the gold influx which now aggre
gates S35,000,000.
The bond market suffered in common
with the stock market, but the conces-
sions were less pronounced and business
was largely curtailed.
Government bonds also exhibited OK
treme weakness with the losses extending
to points in the new fours.
The total sales of stocks today were
274400 shares, including Chicago. Bur
lington and Chicago, a omaoz ~
lington and Quincy, 22,935; louisville
and Nashville, 6,J15; Manhattan L..
1860; Metropolitan Traction. 6,670;
New York. 5,07J; Northern Pacific, pre-
ferrcd, G.7S0; Rock Island. 1880; st.
Paul, 1850: Union Pacific. preferred
G420: American Tobacco, $3.50; PEG
PIES Gas, 6,033; Sugar, 69,61J.