New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1898-03-10
BONDS
THp DAYS OPERATIONS IN STOCKS.

The most important features OF the CUBAN sl'
uation are receiving careful consideration III
financial circles Shifting Of loans ana accounts
has been going on in all directions Precau-
tionary measures are being taken; goio Is oelns
brought from Europe to this country specu'a-
ton by small traders is discouraged ana al
efforts are making to minimize the eheo' Vi
rosstble international trouble. NOBODY Is loollsn
enough TO e. ssert that far as the STOCK MARKET
"a concerned war has been discounted Tor de-
spite the recent breaks in prices IT Is senerlAy
believed that actual war would cause iha'eiai
recession in values rom the current leVe" ING
market Yesterday reflected the prevailing oS-
nost,on Of commission house buyers not TO en-
gase In speculation while the state OF Puoho
uncertainty continues 1t indicated also that a
substantial rally in prices was out on the eue'
ton AT present and that Qu'eN pressure
exerted TO put values lower
Ths DAYS movements showed irresularity with
strength in the morning and weakness In the
srt.rnoon But dulness prevailed. There waS
M ev,oence of confidence In the market among
,rotssa,onal traders or commission houses. ana
nm ~very rally the opportunity was taken 10 SELL
Over-mngune market letters tell their reaoers
or growing confidence and more cheerrul leei-
ing In Wall Street. but the market does not oc"i
out their enthusiasm, and conservative oanAes
do not commend such observations IL 10 we"
enough 10 advise investors to buy excellent secu-
rifle. at present prices but 1t does not seem
3udicious TO advise small public traders 70 pus
stocks on margins for an advance Wheh II Is
impossible to tell what may happen overnight
10 Affect quotations small traders ought 10 stay
out Of the market. Fortunately for them theS
are doing this and are following their own Juog-
ment rather than the ideas Of optimistic brokers'
The safest policy is to move CAUTIOUSLY anu
nrenare for possible emergencies. Such purchases
os wers made In Yesterdays market were based
on technical conditions The recent liquidation
n,soed tho market In a position for temporary
rally. and In the absence of any new adverse
Cuban DEVELOPMENTS room-traders were able to
mako small profits on the long side. After the
carly advance traders took proits and through
ont the rest Of the day quotations gradually
receded to figures only a trtne better than tues
DAVIS closing There was no evidence or BUD
stantial buying at any time
Roth the local and foreign markets reflected
dulness incident to a period OF uncertainty
Cable advices said that the European markets
were more concerned about the Eastern sHua
ton than Spanish American affairs but IN the
ahsence OF disquieting developments European
securities reached better prices. London look
3 small amount Of stocks in this market PROB
ably 10 cover contracts made before the fort
nightly settlement The local borrowing de-
mand for stocks does not indicate an important
short interest here and II is evident that traders
are not disposed TO carry heavy lines or STOCKS
from one day to another for fear OF deVeiop-
ments that may cause sharp movement el'her
way at the opening Sugar Refining. American
Tobacco. Burlington Manhattan, Northern Pa
c,nc PREPARED Union Pacific preferred and ST.
Paul were the leading active features yes'er-
day interest In the last-named issue rejecting
the expectation Of an increase in the company
dividend rate at the directors meeting to-day.
Total sales were 246. 1869 shares.
More gold taken for import and foreign
exchange rates easier. New-York has a
firm grasp on the foreign exchange market and
II In interesting TO note that Continental ex-
change on London Ia advancing. Deposits IN
the local banks continue TO decrease, but all the
money institutions strengthening their po-
sition by gold imports which will doubtless con-
tinue until the Cuban uncertainty comes to an
end