Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1898-03-09
STOCKS IMPROVED.
GREATER CONFIDENCE, on BET.
TER SPANISH OUTLOOK.
MARKET AGGRESSIVELY STRONG

NEW YORK, AdTCn 81 ne lOilS VI W
days stock market was much improved.
as compared with that Of yesterday, the
ground for the greater confidence in
values being the apparent desire OF the
Spanish Government to deprecate any
idea that they desire rupture with the
United States on their own initiative, or
that they ought 10 irritate the United
States Government into assuming the
offensive The effect of this was clearly
defined i'm a sharp recovery OF the price
of Spanish As. both in London and in
Paris. Americans also were much
steadier on the foreign exchanges, but
there was nothing in the early quotations
from there to give a foretaste of the
sharp advances at the opening here.
The market was quite aggressiVely
strong during the whole of the earlier
part of the day, but il Is a ques-
ton whether this was due to any large
amount of buying for new account. Ihat
the short interest was largely increased
yesterday was easily TO be seen, ana
shreWd professional manipulators were
able TO discern this morning that the
market was i'm an oversold condition. The
better outlook i'm the relations be-
tween Spain and the United States made
the shorts nervous, and there was some
thing of a scramble to recover at tue
opening Manipulation for the rise was
designed to overcome bear margins ana
tho leen demand at the advance proved
| tho rnaneouvre TO have been successful
II did not require a very large advance
To- invite further liquidation, ana lhe ias'
hour saw prices fall almost 10 lasl hIsht
noint Covering by belated shorts caused
,fVafy
| ings -, ,,,or,in,lotion
there was little doing in the market.
Some buying was reported LOT A'onuoii,
| 4 number OF dividend announcements anu
tho statement that no BOND issue "ouIu
| he necessary for the proposed approprla-
Ion of s50OOO.OO0 for national defehce
rara all factors toward the more coh-
| ddent view of the situation o,,r
| Ouerations nevertheless, "ele Pu.
eued with caution, and dlsposi'ioh va, W.
! annarent TO adopt a waiting poiloS'
| net gains. except in few OF the 0pe'''i
| lies were confined to fracuohs' ,,-....
srho nrices of Northwestern railway
| lis we're rather conspicuously strons
| and i'm spite of the continuance ot Wy
| trarscontiuental rate war. Inc Fl'l1oui .
| Ct,,ninnati Cleveland and ST. Loul'
-. u,era weak. the common losing 1--WE
| ,oi,ts and the preferred TWO anu '"ie
Ponds showed strength, IN syihpdtli,s
,,.,th stocks. but resisted the late wear
VIZ T., the market. except in the case
| Kansas Pacific consols. whlch u.s. az or 81
H. earlier advance. amounting 10 heaII
tI,,o noints. Total sales. N'iSoOJo, nl,e
49, ~ neuy as. registered, were 81 lower
ga 40 coupon. l-2 lower, BID to-uay, :.
"H IN. tota1 sales of stocks were 5'z ~
- Including Atchison preferred
siaI chicago. Burlington and quincy
9f S91. Louisville and, NashVille, - -
Manhattan l.. 2i175; metropolitan r ,eo
,ion S5s2: Reading, LIST preierreu' Vioo
S S,,', york Central. ll.O5O; Nortner
1oc,ec 100. do. preferred, li'o9o; h ,e.
Isiond g S2s. ST. Paul. Si.12O; Union fac,i''
= oo+. American Tobacco, h6S' feopie
cas- sO5: Sugar, 4712o.
MONEY AND EXCHANGE
Money on call firm. at 2a3 per cent
last loan at 3 per cent; prime mereah'ii
paper. 4d4 - ,,,,,b ectua
Sterling exchange weak, WIN ac'ua
b,,eiress in bankers bills at Sf'of ioI w
,,,and and sisl Il for sixty days posi-
rates s4S2 1-2dSiS3 and AS0 IL; coIrine'
ciaI hills. $3.50 1-2n$tSl. -u,,o
silver certificates, 5fa55. bar s'i'e
80 Mexican dollars, ~ ia.
Government bonds weak "'"'' ''"'
dru railroad bonds hrm.
NtW YORK STOCK QUOTATIONS.