New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1898-03-23
BONDS.
THE DAYS OPERATIONS IN STOCKS.

Wall Street has apparently settled down to a
condition 81 forced idleness The general d!spo-
si;.on is u wait for the settlement Of the Cuban
question or al leas; for the announcement %
the policy by which the problem is 10 be solved
before renewing operations in stocks or entering
upon new financial engagements. In Yesterday
n,arke; prices opened lower and sagGed through
out the day. with sharp declines general in the
las; half hour. The market presents an accu-
rate reflection Of the waiting mood now felt in
ali departments Of Wall Street. |; also shows
distinctly that while the Street Is prepared for
any emergency. the feeling ~ apprehension over
the uncertainties Of The political future is grow
ing more pronounced as the time draws near
FOR the report o. the Maine Board Of Inquiry
and Tor the announcement Of The President s
intentions in settling the Cuban question. II
is well % bear IN mind that. although stock
values may and probably will go lower. Wall
Stree, Is prepared 70 meet the shock Of possible
war LIS measures OF defense have been wei
taken.
There was no attempt 20 support prices yes
terday. The greater par; q the selling was FOR
professional account but in some cases liquda-
ton OF long stock was noticed. The Willingness
OF important interests to support the market
last week is totally lacking at present. and the
inference is naturally mad, ard generally &C
copied that substantial Wall Street operators
and banking houses look upon the Cuban situa-
ton more serious than at any time since the
explosion that wrecked the Maine. Discussion
IN Wall Street. al leasi in tn higher circles Of
finance. attaches grea, Importance to Senator
Proctors recent speech in tho Senate fore
shadowing radical policy by the AGminisra-
ton. while the more serious tone adopted by
many influential public men-whO until recently
expressed the belief that war would be averted--
has not been without effect upon sentiment in
banking ciicles II is therefore not surprising
that the stock marker Is without support
The more important declines made IN the
last half-hour when the pressure to sell stocks
was heavy and prices fell away with almost
astonishing ease. Some OF the larger operators
assisted the local trading element in its efforts
TO depress values. and the only important buy
ing came from a broker who has just returned
from Europe Purchases for his account
amounted to upward Of twenty thousand shares.
his reason for buying being given in a short
q ervew in which he said that he found stocks
at.ten to fifteen points under their real value
and bought them with the intention Of holding
indefinitely. For SPECTATORS who can carry
stocks through any break the market presents
good opportunities, hut there not a few
large dealers who are waiting in the confident
belief Of being able to buy AZ prices cheaper
than the current level. London quotations
lower. but tho decline at the opening here made
arbitrage buying profitable Their was slight
increase In activity compared with Monday,
but there more liquidation Of commission
holdings than on any day since March ~
Declines in the majority Of active issues were
above per cent. and in Sugar Refining Bur
lington. Manhattan. Metropolitan. Consolidated
Gas. Jersey Central, Peoples Gas Roc; Island
and Union Pacific preferred net Losses from
2 TO per cent Among the few stocks that have
not been materially affected by the apprehen-
sion over the Cuban situation is Pittsburg Gin
oinnati. Chicago and St. Louis. which is selling
az decline If only three points from It's best
price IF the year This stock. General Electric
and Peoples Gas promise to he among the lead
In the next legitimate bull novement--.ths
movement that Wall street hopes 10 when
present Cuban troubles have passed into history.