Worcester morning daily spy., 1898-03-17
MORE GOLD COMING
The Recent Movement Amounts
to $24,ooo,ooo.
Prices Made Substantial Gains and Stood
Firm Against Pressure-A Manifest
Return of Confidence.

New York, March 16.-The early
strength in today's stock market was a
repetition of yesterdays movement, but
prices resisted the late pressure for a
decline, and as a consequence shows
substantial net gains all through the
list.
The bulls had the advantage, also, of
higher prices on the London exchange,
and although prices Immediately rose
buoyantly above the London parity,
there was conspicuous buying for the
London account, as late as business was
done in the British capital The Lon
don buying was certainly due to a feel
ing at that centre that there is a more
promising prospect as to affairs between
the United States and Spain. This feel
ing was shown only in quite buoyant
tone for Spanish AS, which rose IA in
London and " in Paris. There was I'M
doubtedly a feeling prevalent in New
York also that the outlook was more
peaceful, and such of the days devel-
opments as had a more threatening as
pect, were ignored. Either the Spanish
governments seni-official announce
ments of it's opinion on the maintenance
by the United States of the feet in Flor
ida waters, or the news that official at
tention had been called to this opinion
by the Spanish government, would have
been sufficient to demoralize the market
a week ago. But the underlying con-
viction in Wall street is that the author
tiles at Washington have come to In
dulge a hope of peaceful settlement.
The continued preparations for defence
and incidents those nf fnAaU fIn
not wholly dissipate this conviction.
Nevertheless. operations are not on a
large scale, pending a definite decision
of the Cuban problem.
The supply of stocks was not large to-
day, and prices moved easily upwards
without any very heavy transactions.
A part of the buying was attributed
to large bull interests, but much of it
was also supposed to be the covering of
the short selling which caused the late
decline yesterday. The bears were APP
parently averse to renewing their at
tempt today, and the high level Of prices
was not seriously impaired. The hope or
a successful adjustment of the tariff rate
controversy in the northwest was quite
an important factor in the advance here
and in London for Americans. The local
and industrial specialties led today's adj
vance but the grangers, northwesterns
ana INTERNATIONAL STOCKS IN the railway
list We're also conspicuously strong.
Heavy additional engagements of gold
for imports were made today without
affecting the steadiness of the exchange
market below the gold import point.
The total gold movement from Europe
on this movement has now reached $24,-
900, 900, and it shows no sign of subsiding
in spite OF the growing tightness of
money in London and in European CEN
tres. The accumulated stocks of exchange
are supposed to have been somewhat
reduced, but there is a large supply still
remaining, and the continued heavy out
ward movement of merchandise is con-
stantly bringing new bills into the mar
ket, which are sold against gold imports
as fast as they come forward.
Bonds were strong throughout in SYM
pathy with stocks. Total sales $3.50 900.
u. S. new As the IS, and the old As
coupon each advanced Y bid today.