The age-herald. [volume] (Birmingham, Ala.) 1897-1902, 1898-04-14
In Wall Street.

New York, April 13.-Net losses ranging
from to points in the active leaders OF
speculation, an animated close to the days
trading at almost the bottom level of the
day and heavy blocks of securities offered
for sale were the features of the days mar
ket and showed early that recent optimistic
expectations that the Cuban imbroglio
would be settled without resort to arms,
have been abandoned by operators in Sc
curities.
The point of order In the senate which
sent the consideration of the Cuban reso-
luton over day rallied the market slightly
indicating that the recent firmness in prices
was held on the chance that delayed ac-
tons might still give a peaceable adjust
ment of the trouble.
Spanish As were without any support at
eastern centers and the heavy tone of the
Americans reflected the growing belief in
war. The early weakness and local ex-
change was due in great part liquidation
in foreign account in local Americans. Sales
of all the International stocks for London
account were more urgent than at any time
since the Cuban question has been an is
sue. There was not much added pressure
of local liquidation in the early trading,
local operators still clinging apparently to
the belief that war measures would be
successfully opposed or INSTRUCTED in con-
gress.
The open market rate for call money
there has been raised to about the bank
rate of per cent. Berlin discount has also
risen compared with the bank rate of 4
per cent, and money hardened appreci-
ably in Paris today. With call money in
the local market responding with rise
to 4per cent, there is no diminution in the
pressure in foreign centers for gold for
shipment to New York. 1t is the expecta-
ton in Wall street that the Bank of Eng
land will raise its price Of discount to 9
per cent. should war be declared between
the United States and Spain. With the
large stocks of exchange in New York still
to be drawn upon, this condition of affairs
might easily have been the impelling cause
for London selling of American securities
in an effort to ameliorate the exchange con-
dition. There were some very heavy hold
ings thrown over In the final dealings and
no confident support was manifest any
where in the list
The bond market displayed an increas-
ing pressure of liquidation as the day pro-
crossed, and especially in the speculative
issues, and losses are general throughout.
Total sales of bonds, 81 ,375,000.
United States twos declined q; the new
tours, IL, and the old fours registered and
fives, u per cent. in the bid price.
Total sales of stock, 1926, 900 shares, includ-
ing $3.50 Aachison preferred; 4O,154 Burling-
ton; 1850 Louisville and Nashville; 1855
Manhattan; 994O Metropolitan; $3.50 New
York Central 4,755 Northern Pacific; 9,4O2
Northern Pacific preferred; 3,T0 Reading
7795 Rock Island; $3.50 St. Paul; 1855
Union Pacific preferred; 2O,473 Tobacco; g.
1884 Peoples Gas; 1,6S6 Sugar.
New York, April 13.-Money on call firm
at 364 per cent; last loan, 4 per cent.
Prime mercantile paper, 51AQ6 per cent.
Sterling exchange steady, with actual
business in bankers bills at $4S3A@4. S31s
for demand and $4S0@4.S0A for sixty days.
Posted rates, $4SO1z04 81 and $is4Gf.S4lk.
Commercial bills, $479h.
Silver certificates, 56Q56A.s
Bar silver, 56A.
Mexican dollars, 45A.
Government bonds weak.
State bonds dull.
Railroad bonds firm