The sun. [volume] (New York [N.Y.]) 1833-1916, 1898-02-16
] rnlxoIAn Axp ooNMrnorlE
TUESDAY. Feb 10.

HT~UEsDAY, Feb 10.
wall street has had within the last twenty
four hours a fresh demonstration Of the oxtraor
binary risk that spectators take In basing theiI
operations upon reports and rumors regarding
the Cuban situation. Yesterday afternoon hall
tho Street was confident that the President
would send 10 Congress to-day a strong, that Is,
n disturbing, message relative TO tho apparent.
IT, strained diplomatic relations between tho
United States and Spain. Wall street, unfor'
tunately for its own interest, 10 not familiar
with the methods Of international diplomacy.
hpt In superRensitlve TO the breath OF every idle
vumor. The street, therefore,, was rather taken
By surprise this morning by the announcement
that tho Spanish Ministry had done exactly what
the Government at Washington had expected IL
TO do. Tho news that a possible severance of
Diplomatic relations between the two countries
had been averted was somewhat of q shock TO
many dealers in stocks, and to others IL was
doubtless . ~Rrievous disappointment 1t
changed q good many calculations. and In conse-
ouenco the market for fully an hour after the
opening reflected an unusual degree Of hesi-
tancy. Then ns the speculative community
began to realize that II had boen deceived or
had deceived itself In taking q gloomy view Of
the situation yesterday It attempted TO recover
the stocks sold for both accounts yesterday
afternoon.
The hrst decisive movement was In New York
Central, and 1t soon extended to O., b. and
Quincy, TO Manhattan Railway. and finally the
Improvement became general. J.. B. and Quincy
proved TO DO tho leader Of the market in respect
70 activity, 1t was bought on an exten-
sive scale on tho belief that the quar-
terly dividend which should be declared
tomorrow will DO larger than those
declared for some years past. Tho strength and
l. ~ N - n.t--u l-a,~-~>1 khA
market for tho entire Granger group. A net
advance OF 2 points In Manhattan Railway was
generally construed as indicative of progress
toward an agreement between the COM
pany and the Rapid Transit Commission.
Brooklyn Rapid Transit was also excep-
tionally strong at o net advance Of 1 y cont,
Q movement that 10 explained by tho Increase in
tho company's traffic returns resulting from the
facilities 1t has acquired in crossing tho Brook
Ign Bridge. On tho other hand, Metropolitan
Railway was exceptionally heavy. and WAS one
OF the few stocks that closed lower than
yeSterday. There was also a natural falling OF
in the volume Of trading. Other noteworthy
movements were in Consolidated Gas. which
Jumped up moro than 8 points; Missouri. Kan.
sas and Texas preferred, the market for which
was favorably affected BIZ reports of an alliance
with, the c.. d. and Quincy Company;
Western Union and Northern Pacific preferred.
On comparatively light transactions Peoples
Gas recovered two-thirds Of tho quarterly divi-
dend Of 1ia . cont that was deducted from the
price Of tho stock at the opening this morning.
Unusual activity in Minneapolis and st. Louis
issues. particularly tho common STOCK. gave
color to reports that the control Of the company
IN being sought for by ono of tho larger
lines with which tho road connects. The
possibilities Of the property, as suggested
by its traffic returns and by tho cost of
operation since the reorganization have quito
likely directed attention to tho property that
heretofore had not been accorded 1t. or
the usually less active stocks Pullman's
Palace Car, Third Avenue Railroad. st.
Louis and San Francisco first preferred.
and Western preferred and Minnesota
Iron were conspicuous. and. with the exception
of the last named. they closed materially higher
than yesterday. In Minnesota Iron there was
an unusually heavy selling order that de-
pressed the price lie points. In tho outside
American Mailing stocks attained
prominence at advancing prices. partly because
arrangements have practically been completed
for transferring tho dealings in them to the
floor of the Stock Exchange. Tho closing was
strong. ct slight reactions from the best prices. |
Few York Stock ExchanGe-saIes Feb. lS.
e6 vaF deb 2.ss 80 Va es def. trs ~
Of 1e9l.... YIN
cIosfNa PRICES OF UNITED STATES BONDS.
On st b. r. I'm St a. {.
at pi Of o.loo - 1925. ...l2eb 1885,
IN st ts.E On St bs.r.
leo7....l13b l13hl 1900. ..l13% ll4b
IN St d.. o. I'm st 90. 9.
1907. ....llAh I16 1sot.-..llaI 1l4p