New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1898-04-22
BONDS.
THE DAYS OPERATIONS IN STOCKS.


The foreign markets reflect greater uneasiness
.,sn our own over the Spansh-American crisis
rer,v cable advices yesterday showed further
s.nress,on on the London Exchange. the decline
a. American stocks extending to la per cent.
md British consols and Spanish per cents
Ealing u and ! per cent respectively. In the
local market foreign selling was again INDUCED
=, md while there was considerable buying by
.,.Gslsts IN various stocks. with moderate
,nou.ry from commission houses room traders
.ucceeded IN forcing values lower although not
inducing much important LIQUIDATION STOCK
market conditions indicate a thorough prepara-
ton for the shock Of war so far as speculative
holdings are concerned. The permanent position
Of security holders. however. will be subject 10
the fortunes OF war. to the amount Of money re-
ou!red 10 carry on the war; ana 10 the eA'en'
or duration Of the contest
r,. .Hec, Of war upon the securities market
GA foreshadowing the course Of values will
houbtless be measured by the movement OF the
money market when a call is issued for sub
scrtpt,ons to q Government loan; by the amount
Of investments displaced TO take up the loan'
and by the amount OF foreign selling OF Arnerl-
can securities entered into in order 10 prevent
gold shipments to this country. An unusuai
amount Of optimism exists In Wall street. REQ
ple who, until recently. have been conhdent 'hal
war would be averted are now Just as conn.,
dent that hostilities Will last for q short time
only. and that the selling OF securities al 'h's
4unc.ure will prove disastrous. while a moderate
accumulation Of good dividendpaying stocks
will result IN handsome profits at no late period
This may be good advice for capitalists VINO can
AFFORD to hold their possessions through any
shock but II does not appear safe reasoning Tor
rurchases by small speculative traders II is an
excellent time for marginal operators 20 remain
AWAY from Wall Street. FOR there are many pos
abilities that may develop into strong causes TOY
lower prices.
The nrce movement in the stock market ex-
hib,ted a tagging tendency throughout the Day
with final figures at net losses of lD5 per cent
IN the more active issues. Total dealings
amounted to 30S079 shares. OF which few
speculative favorites furnished the buI"- Ameii-
ran Tobacco. Sugar Refining. the leading
Granger shares Manhattan. Louisville and
Nashville. Northern Pacific preferred. New-York
Central and Union Pacific preferred were the
leaders In point of activity, and as a rule IN
,r,ce auctuation Delaware and Hudson. Third
Avenue Illinois Central. Michigan Centra!
and Delaware Lackawanna and Western. among
investment Issues suffered substantial losses on
small sales Manhattan sold near its loves,
price Of the year. In the last hour or business
the selling pressure became more pronounced
end the bear element made NBorouS oi4Ne
against values. IN the course OF when stop loss
orders were reached and small accounts formed
on Wednesday shaken out. The selling move
ynent continued until the close last prices stand
ing at the lowest Of the day.
The money market remained firm at IN
changed quotations. while the foreign exchange
market was trife higher. reflection OF the
foreign selling Of American securities The
wheat and cotton markets furnished in activity
and higher prices evidence OF expected war
The weekly statement OF the Bank OF England
showed an increase In holdings. ana as con-
eeouence the Banks discount rate remained IN
changed II IL interesting to note IN connection
with the international gold movement that the
Bank OF England is making efforts 10 shi't the
demand for gold 70 the Continent. while 1t has
been able 10 attract considerable metal 10 It's
own vaults its specie holdings increasing IN the
week over 100000.