The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1898-04-07
Delay In the Message Throws Sun
shine In Wall Street.
SEE-SAWING WITH NEWS
PRICES THE PORT OF PEACE
AND WAR RUMORS.
All Day Operators Jumped at Con-
illusions From Reports Emansting
From Washington and Madrid
Activity In the Market at the Last
Hours of the Session.

New York. April 6.-There is strong
conviction in Wall street to that delay in
the sending in of the presidents message
is favorable 10 the avoidance of war. This
was clearly manifested in the response of
the market to the early rumor from
abroad that the presidents message would
not go in today and to the later author-
lied statement form Washington that II
would be withheld until Monday. The dis
! position of the message was the central
point about which the whole market turn
ed all day. The assertions of the news
papers this morning that 1t would without
question go in today, and that IL would de-
clare for forcible Intervention. caused the
decline at the opening. opening prices in
almost all cases being the lowest of the
day The resistance to the decline and
the quick recovery were surprise to out
side observers. who were prepared for
something like war panic on the ex-
change. The recovery was due to the
cabled reports of a rumor in London that
the message would not come in until next
Thursday. This rumor was quickly dis
credited by statements from Washington
and the market drifted to a lower plane
again. but not to the lowest. The stag
nation of the trading during this period of
waiting was almost absolute. and the
sudden outbreak of activity when the lat
er authentic reports came from Washing
ton that the message would be delayed
until Monday was in strong contrast.
JUMPED AT CONCLUSIONS.
1t was evident that the conclusion was
leaoed to that the Withholding of the
message was due to a reception of furth-
er proposals from Spain or to movements
for mediation by European powers giving
promise that the countries might emerge
peacefully from their enhancement. The
violent advance was checked. and reac-
ton set in when it was stated that the
delay was due to advices from Consul
General Lee that he would not be able to
secure the departure in safety of Amer
leans from Cuba before next Monday.
Prices Stiffened again however. before
the close on the strength of the general
sentiment that delay favored peace The
money market maintained a waiting atti-
tude. Time money was firm at per cent
Tor al dates. but the exchange market
showed hardening tendency. Gold con-
tinues to come, however, from abroad.
BONDS IN SYMPATHY.
Bonds moved in sympathy with stocks
and were stagnant until the last hour,
when prices advanced on a squirt of activ-
ity. Totals sales. 81. $50. 000.
L. S. new As. registered. were y lower
bid. Prices otherwise were unchanged on
the daY. The new Is. coupons. sold all
the way from 10 al the opening to l.21I2
the last transaction.
MONEY MARKET.
Money on call 2ika4 per cent; last. loan.
2l2 per cent; prime mercantile paper 5G6
per cent
Sterling exchange firmer. with actual
business in bankers bills at 1881 AL 415
for demand and 4.S0hd4 SOL, for GO DAYS;
posted rates. 4S1d4S1l5 and 4S464.s 41s:
commercial bills. 419st.
Silver certificates. 56d57; bar silver, &c.
Mexican dollars 45A.
Government bonds steady: state bonds
dull; railroad bonds firm.
SALES OF STOCKS.
Total sales of stocks today shares. in
Guiding: Atchison preferred 80, $50: Bur-
lington s.. $50: Manhattan. 1850: Metro
politan Street Railway $3.50; Reading pre-
ferred. $50; Missouri acific, 3,047; New
York Central 800; Northern Pacific.
6.4i5; Northern Pacific preferred 10 80;
Rock Island. 1880: St. Paul. "a, SIS: South
ern preferred, 30i1; Union Pacific, Sl.675;
L. P. y. s; c.. ; 100; Tobacco, 16. 745; Peo-
pies Gas. $40; Sugar. $500.