The age-herald., 1898-04-05
In Wnll Street.

New York, April 1.-The interesting devel- opments in the stock market today were in the first hour. The bulge at the open ing was caused by tho scramble to execute all at once buying orders for several thou- sand shares in each of the leading stocks. These orders were placed by frightened bears who saw a warning in the very buoy ant tone assumed by American securities on foreign exchanges and who had ln inlnu the sad experiences of the shorts or last Monday Upon the execution of their mass of orders at the opening prices promptly sold off again. The decline was arrested when rather more than one-hai1 of the sAvance had been wiped out. Transactions forthe remainder of the day were small and fluctuations were narrow outside a few special cases and there was little of interest or importance in the stock market.
 Notwithstanding the later weakness net gains of from 1 to over points were saved for nearly all the active stocks. The op- ening jump fin prices was in sympathy with the buoyancy of Americans in foreign exchange where the reported mediation of the pope between the Unitd States and Spain was viewed as of the utmost import ance.
 The sentiment for peaceful adjustment which found expression in many pulpftS In this country at Sundays religious services tended to give color to the peaceful out look Professional stock traders who were after the bears scalps were also very busy disseminating allegation that Pres ident Mckinley had determined to embody a recommendation against war or forcfble intervention in Cuba in his forthcoming message The denial from Washington that the pope had been accepted as me diator between the United States and Spain was potent in dispelling this view aided by expressions by men in Washington who are strenuous for firm action on the Cuban question and who expressed their content ment with assurances given them after having seen the president, indicating the purpose of the United States to insist upon Cuban independence. Notwithstanding these later revisions of opinion the active measure taken by the pope was felt to of- fer a possible means of influencing Spain to yield to the demands of the United States especially as the opinion of the vatican heretofore reported inclined favorably to- ward the granting of Cuban independence. This constituted the sustaining force which saved the market from a full reaction from its opening gains.
 The bond market was dull and after open ing strong prices eased off a little, but stiff -fened again before the close. Baltimore and Ohio 6s, Parkersburg branch, sold at 104 decline of II points from the last sale. Total sales $1 100000.
 s Total sales of stocks today, 322 900 shares, including Atchison preferred. 4,9O5; Chicago, Burlington and Quincy, 33.2SO; Louisville and Nashville, 1OS05; Manhattan, 2613O. Metropolitan, H. 300; Missouri Pacific 5 ,250! New York Central 4,961; Northern Pacific, 102, ITO; Northern Pacific preferred, TITO; Rock Island, Ii ,070: St. Paul, 42s125; Union Pacific, 32.02S; Tobacco, il, ,760; Peoples Gas, 4,742; Sugar, 94,7SO.
 Money on call easier 1k@4 per cent; last loan 1h per cent
 Prime mercantile paper 5@6 per cent.
 Sterling exchange, weak, with actual business in bankers bills at Si.S31s6$ $4.S3A for demand and at s4SO1s for sixty days.
 Posted rates, $4S1k@$4S2 and S4S4h0 $4.S5.
 Commercial bills, $4S0Qs480z
 Silver certificates, 55ss@5SA; sales, 1000 ounces at 56A.
 Bar silver, 55k.
 Mexican dollars, 45.
 Government monds irregular.
 State bonds dull.
 Railroad bonds strong.