Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1898-03-26
STOCK PRICES LOW.
,owpsT IN MOST CASES SINCE
wAR-sCARE BEGAN.
new BOND ISSUES POSSIBLE.
This the Assumption, If Expendi-
tures for War Purposes Are 10 'oh-
,t,ne Ionr-Money on Call steady
stock Exchange Week.

NEW YORK, Marcn o. o-u"J ,
closing prices were the lowest IN most
cases since the Cuban question became a
dominant factor in the situation. Twenty
active shares averaged lower than at any
time this year, and government new As
coupon. were down to rs ga bid. THIS was
ON the assumption that new issues We're
possible. if expenditures for war purposes
continued long. Before the battleship
Maine was blown up they were quoted
above 12S.
II was freely predicted that the Maine
report would be extremely unfavoraole.
The market opened with quotations
slightly below yesterdays close. Ihe
hears however, were determined to bring
about a substantially lower level anu
hammered many Of the leading stocks
vigorously, in an endeavor to precipitate
uouidation. The local transportation
sbares and Sugar were the most vulnera-
BILE points of attack. and the extreme
weakness in those specialties was soon
communicated elsewhere. Numerous sup
lose orders were executed, and the mar
hot for time took on a very animated
appearance, with losses ranging between
I and points during the first haiI-hour
,nerations. purchases for London ana an
effort on the part of some traders 10 rauS
rrioee gave a steader tone, which, how
-. was ACCOMPANIED by extreme stag
nation AS the day progressed the mar
- dinned frequently, but there was an
obeence of feature in the general specula-
tior until the final hour, when extensive
Iio,,idation set in, which depressed Inc
mi, of the high-priced specialues 10 lh'
lowest figures Of the day. =.
washington houses were sellers ana IL
WAS inferred that they might nave soih'
animation Of the nature or the MdIhe re-
port. .o,,s,,ic,ousl,
,,,ooIl sugar was down 3l-S, party
t,roueb fear of increased competition II
the trade. The drop in this stock tehde'
| 40 color recent reports that inside suppoi
| had been withdrawn for the time peins.
There was a further engagement ior IN, /,
| mort of a moderate amount oil solu
making the total Of the present nnone
| ment including that from Australla
noorIv SCI OOOOOO The foreign eXchdhg
| ,norlket exhibited heaviness to-day, an
| some concessions were noticed III fa'eS
| rosted rates in one instance being 10"
cred ~ per cent. This is regarded III
measure as indicating a further ln1uX
gold. ..e,,,,os oor
| quotations for railway mortgages con
t;nued 70 sag. on light offerings, whlcI
for the most part consisted or usually DC
| tive speculative liens. The total trans
actions were $l,lOO,Uo' .
| Government bonds displayed extreh
weakness. and new As, coupon anu [esl9
| tered. and old As, coupon, ylelulhs pc
| oont In the bid prices. The old As regis
! torod suffered to the extent OF man, an
the SIS. coupon and registered lost i
| each. aa,, ,ver
r,e noo shares. including Chicago, burning
.o, and Quincy, S2,427; Louisville an
NTasbyiIle 6125: Manhattan, D,5I5; Metro
'oIi+ar street Railway, ex-dividend' 10
aon. Neu York Central, SOl2 Mortimer
pac,fc preferred. 1925; ST. Paul 100
rnton pacific preferred, II 400; Union "a
o,er Denver and Gulf, $500; American IL
hscco 111SO: Peoples Gas, 800; ouSa
$3.50. >.o,,
MONEY AND EXCHANGE.
ep M-Money on call steady at l $40
Der cont. last loan at 2 per cent; prin
mercantile paper, 1926 IL per cent
STERLING exchange weak, with actu'
A,,s,ness In bankers bills at A.8 IL
q "a for demand, and ASo f-Sas4.el y
sixty days; posted rates, SiSl l-gg@f-Sz =, !
and S.Si1-2qAS IL; commercial Oil
S4S01- ~. .i,,.o
4 certificates
x Mexican dollars, A "a.
Government bonds weak. state poh'
ouIet. Railroad bonds weak.
THE Evening Posts London hnanci
oabIegrann saws: The stock markets ne
onened fat to-day. on the London I'm
cables concerning the Chinese CONCESSION
40 Russia. improved later on NJ. Ham
.orx,s assurance to the Paris Figaro hi
a. relations Of France with all natioI
&c cordial. and finally closed nat agai
The nervous feeling Is increasing aS u
settlement approaches
Americans, after partial RAINY cios'
fat There was further ran IN Sou'
American Government and rairoa
stocks on forced selling. There was
sharp fall In Spanish as, which Close
only n fraction above the lowest. Spai
ish exchange on London was demoraiize
and quite nominal.
BANK CLEARINGS.
Tho total bank clearings In the Unite
c,ates For the week were 81. 0A, 3Ss SIC: p
cent increase, ga; exclusive Oh ne
York. siis.GGl .2l2: per cent, increase NV