The Norfolk Virginian. [volume] (Norfolk, Va.) 186?-189?, 1898-03-08
The Relations Between This Country and
Spain Causes IimId Holders 10 Sell.
GREAT LOSSES IN THE sPECIALTIEs
There We're Worry PnIpnbIo sInnnuy.
resby tho Bears TO Force the Low.
est Possible Range ofQuotntions-
London Was Heavy seller Of
htoclss-Flurry I'm Money.

New York, March 7.--Thc relations be-
tween the United States and Spain caused
apprehension in all circles in Wall street
to-day. That there were large sales of
securities by timid holders for the mr.
pose OF converting them into actual money
OF the selling was due to the liquidation
VI speculative holders, which have nccn
strongly held through previous declines,
Dut which were thrown over to-day to
reaiize what they would bring. There was
VERY Palpable manoeuvres also by lie
pears 70 force The lowest possible range
OF quotations 1T the opening and their
offerings TO force down prices and Their
purchases at the decline to cover made
IN This connection 1t Is Interesting 10 notc
thll the opening sales of Burlington were
reported at from 30!a 10 S9,a. and this
quotation was not corrected until the close
oi The market, when it was cancelled with
lne explanation that the sales reported
WEI We're OF 81. Paul at those quotations and
not OF burlington. Instead of IL break
IN burlington OF Az at the opening that
STOCKS extreme decline from Saturdays
iYthe day. New York Central showed a
loss OF 33S at tho opening. Otherwise the
extreme declines in the railroad list wcro
restricted between / and points.
Losses in the spcciaitics were great,
M n1 falling Eolnts Sugar 5s
qulck TO cover at the decline and Il rally
or or lV3 points was almost instantaneous
attributed to Washington sources, which
We're aggressive sellers in the latter part
OF of i;tSt week London was heavy seller
OF STOCKS during the morning, the sales
Tor mat account being estimated at 10000
shares. 'S
London's pcssimstic view of values was
as much influenced 10y the threatened out
look In China and the dispute i'm the Niger
region as BY the Cuban question. Local
operators were quick TO decide that no
DAMAGE was threatened to American Sc
curitcs by these complications and this
encouraged the absorption of London Of
fer!ngs.
Later In tho day the Introduction Of Mr.
lannon's bill TO appropriate $50,Vo0,0to for
natlonal defense and the passage OF the
iawlcy MI providing for two new artil-
lery regiments renewed the early weak
ness and forced prices aga.n to the lowest
; Inc iate break was l,eer from bear mani
than the earlier one.
IhS decision favoring the railroads in
was almost ignored, and the news that
spain had withdrawn its request for Con
sus-teneral Lees recall. although some
what more cIlicacions in rallying the mar
ket. had hut temporary effect, the other
thIca tcninE aspects OF the situation bcin!:
regarded as more important
Money was marked up TO 8 per cent
in thc early transactions, an influence
IN inducing Navigation which must not
caused by the calling Of loans by num-
Der OF banks whose reserves had fallen
hrlsw the % Per cent. Limit. The rate
the close OF the day. Clos NIX a;'' prices in
stocks were considerably above the lowest
but not declines in the standard shares
are stu from to over per cent.
Prices OF bonds yielded almost as sharp
y as those Of stocks. but The smaller
liquidation by comparison with stocks in
uCh "d Ercatcr underlying strength. Total
sales, $|.&25. 90.
United states new Is and United States
CD ~ declined Zee: old coupon and the
IS lc., ana - Z per cent. The Us coupon
soih az llE,. The total sales OF stocks
Were ~, 100 shares.