New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1898-03-25
BONDS.
TIE DAYS OPERATIONS IN STOCKS.

The feeling of uncertainty continues pro-
nounoed in stock market transactions. IN
Yesterdays securities dealings n dull and sag
cling market again occupied the attention or the
speculative community. but II is we'll to add that
this attention was confined to a limited plumber
OF traders There no disposition on the
part Of important interests 70 engage III market
operations The attitude of wealthy speou'a-
tors Is shown in their quietncss II war IS dc
ciared they may nc heard from. and II Is not
unlikely that in case Of war the holdings OF
many large operators viii. through fright. he
thrown upon the market Perhaps the .aith OF
this element in n diplomatic settlement OF the
Cuban situation is all that prevents II from
Equidating at once
Peo,,lc who are advising the purchase o.,
stocks n, the current level may live 10 sec that
q declaration Of war would mean temporarily
still lower values. And brokers VINO ADVISE the
purchase OF stocks on the possibility OF decIa-
ration Of war may subsequently find that the
fortunes Of war are not in favor OF steam!
advancing stock market. On IN" other hand' II
Is not improbable that with the fina! settenen'
OF the Cuban question Wall Street will see the
greatest bull movement in its history IN
certainty IL keeping buyers out OF the marhe''
and until the Cuban matter has neen sctueu'
either by diplomacy or war. uncertainty VIII eN-
list There cen nc no legitimate bull movement
so long as this uncertainty controls the s'ua-
ton. Efforts 70 induce people 70 speculate i'll
stocks on the theory that var has beeh ehureE
discounted do not seem consistent with common
sense views When II appears that war VIII eN-
.r, M lasting injury 70 business. then the ques-
tion Of business conditions and roilrond earnings
will receive attention. and speculative prices
will stand a fair chance Ct advancing AoV"e
IN h,,v stocks nj that time will he reasonable
In the carly dealings prices exhiblted recipe
raI,ving power bu; before the close again re-
,.,s.d into their prevailing tendency toward
usaknees In the last half hour this weakness
u.e pronounced. the majority % stocks suffer
,,c material losses Aside from tho general Gu
han situation. the sailing OF the Spanish torpedo
no.iIIe from tho Canary Islands was considered
,ufBcient reason for O sharp attack upon values
The Iondon marxet reflected increased uneasi-
Toss while a further break In Spanish per
cents ard In own Government pohos
, supplied additional indications or the nervous
ness in the fnancia, markets. on the LONDON
and local exchanges there was moderate liqui-
0ation % American securities held for foreign
account Traders had no difficulty In forcing
prices lower In the closing transactions. and it
is noteworthy that in the final dealings the lack
OF support conspicuous Last quotations.
as rrle were the lowest OF the day. or the
active issues Sugar Refining. Louisville and
Nashville Manhattan, Metropolitan Street Rail
way Northwest. Omaha and Union Pacific pre-
ferred were the prominent weak features.
Time money rates were 1rmer yesterday; also
commercial paper. There was little disposition
10 lend and the demand not urgent. Call
money ruled at 1l2@1a. per cent. with an abun-
dance of funds available. few small engage
ments Of god FOR import were made. Adequate
reason for the easier foreign money markets Is
given in the foreign bank statements which are
printed elsewhere on this page.