The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1898-02-24
FALL IN SPANISH TOURS
INDICATION OF ANXIETY OVER
OUTCOME OF CUBAN AFFAIRS
Flood of Selling Orders Carried the
General Stock List at New York
to a Lower Price Level in Spite
OF an Attempt to Bull the Mar

NEW YORK, Feb. 23.-Today's further de-
cline in stocks undoubtedly reflected a con-
dition OF real apprehension in the minds of
holders OF securities, as to the developments
In the cuban question. Commission house
orders to sell were in large volume even at
the advances over Mondays level which had
been deliberately arranged by the use of the
cable to establish g higher range OF prices
in London, over the holiday. There was
professional buying here at the opening de-
signed to the same end, but not even the
nrst quotations were up TO the London
parity Gains were speedily wiped out by
! the slump which followed the abandonment
of the professional attempt to sustain prices.
The uncovering of margins and selling
orders to stop losses brought flood of stocks
on the market. Sugar led the break with a
decline of over points, after a rise of a
point, and 1uctuated feverishly all day, clos
ing near the lowest at an extreme decline of
over points. The local specialties were
also centers of weakness, Metropolitan Street
Railway losing points and Manhattan about
). Great Northern pfd dropped off points.
The weakness of the morning was in spite
OF large buying in this market for London
account. Estimates of the volume of this
buying ran as high $4,000 shares OF
stocks The London market and the Con-
tinental exchanges showed a subdued tone
on the subsistence of excitement regarding
the West African situation, but there was a
significant decline at London and Paris in
| the Spanish tours, the closing price in Lon
MONDAYS close
The weakness in the stocks which were the
favorites in the London buying, de-
ferred until later in the day but thew uIti-
mately succunibed along with the rest of the
list In fact the weakness of these stocks
In the afternoon, after the sustaining force
OF the London buying had been withdrawn,
contributed TO the final break in the market.
The days net losses exceeded points in
only few of the standard stocks but were
over points in some of the specialtes
O n1fl sr, H.
such as to encourage speculation. Call loans
were made at per cent today. Currency
continues to move to the interior, and the
sub-treasury had a credit balance at the
clearing house today of 81, 772516, rejecting
the withdrawal of another 10 per cent in
stallment en- the government deposits Of the
Union Pacific payment Foreign exchange
weakened only slightly in face of the large
London buying OF stocks. The decline in
exchange on Paris was more marked. This
development offers some confederation of the
report that a portion of the money which
| IS going from Paris to London account
OF the disturbed condition of affairs in the
French capita, is going into American secur-
tiles
Standard Oil liquidating certificates are not
dealt in on the exchange, but in the outside
market today they sold at 80 as against 800
at the opening today. Before the recent 10
per cent dividend distribution the stock sold
at 44S
Bonds were weak in sympathy with stocks,
| especially in the speculative issues. There
were very heavy dealings in the Union Pa
cifc As. Total sales, $4,275, 600 Government
bonds were decidedly weak. U. s. new, is
reg, declined &c, do coupon 1ac and the old
Is reg, the 5s and the IS Il bid.
Total sales of stocks today were 527, 20l
shares. including: 1910, Atchison; 1O9G0, 10
| It'd; 5165, Canadian Southern; G. 49,, C. & O.
| 27.l19, Burlington; 1880, Louisville q Nash
,'.lle; 2s,1S1, Manhattan; $780, Metropolitan
6.530. Reading pfd.; $3.50 Missouri Pacific,
! : $50 New Jer SCI Central, l'."lj NV VLrk
! Central; $500 Northern Pacific: 10 S24 Rock
| Island; 44,525, st. Paul; 1875, Southern pfd
| 1850, Union Pacific; $3.50, Wabash pfd.
! 6,441, Tobacco; $40, Chicago, Great Western
! $500, Peoples Gas; $500, Consolidated Gas;
$40, General Electric; 1900, Pullman; 70, Goo
! Sugar; 11.720, Western Union.
! The following were the fluctuations of the
leading railway ard industrial shares, fur
| nished by c. H. F. Smith & Co.. members
New York stock exchange and Chicago board