The age-herald., 1898-03-31
In Wall Street.

New York; March 30.-Today's transac- tions in stocks might fairly be termed a runaway bull market The overwhelming conviction of all operators on Wall street seemed to be that a peaceful adjustment of the controversy with Spain is probable. Any of the minor developments of the day which seemed to contradict this assumption or to threaten the defeat of this outcome were consistently ignored. There were re- actions att times during the day, but these were evidently due merely to realizing sales by those who were content to take large profit already assured. These real fzing sales were absorbed without at any time reducing the level of prices to last nights close, or even near it, and the mar ket several times rallied to near the top figure of the day under renewed buying. The day closed win such a buying move ment in full force and prices near the highest level. The days net gains in the railroad list ranged from one to three points and in the specialties gains of over points in Sugar and nearly in Metropoli- tan Street Railway were noted. Some of the shorts put out in Mondays bulge were covered today and perhaps helped on the advance materially, but the leading infiu- ence of the market was rampant, specula- tive buying movement. London was cred- ited with large buying movement here, but foreign exchange failed to reflect the fact, the tone of the exchange being firm. This might be due to slightly easier time money, which was no less significant of the prevailing confidence in a peaceful out- come than the strength in stocks. Prices of Americans in London had risen before the opening here, but cabled reports said
 This was due to buying on New York orders. Spanish government bonds also showed strength in Paris and London but this was csl.cd a reflection of the strength or American securities rather than the cause of it. Early reports from Washing ton that Spain had agreed to free Cuba for eco indemnity gave the first pow erful upward impetus to the market The abstention of the senate foreign relations committee from reporting any of the war like resolutions in its custody and the re- fusal of the house to interrupt the progress of the negotiations with the Spanish gov- ernment were intercepted as favorable fac tors. No account was apparently taken of the suggestion accompanying these actions that the presidents demand upon Spain were sufficiently far reaching and firm to meet the objections of those who had threatened to oppose the president in con- gress. The underlying conviction in flnan- ciaf circls was that whatever these de- mands may be Spain would accede to them and thus avert hostilities.
 The bond market was by no means as active as stocks, but the tone was strong,
 
 scored. Total sales s2, ,245, ,o000.
 The total sales of stocks today were 51- 900 shares, including: Atchison, preferred. S,S65; Chesapeake and Ohio, $500; Burling- ton 56,342 Louisville and Nashville, 19,520; Manhattan, 33,675; Metropolitan, H,Sa; Reading, preferred, 5,640; Missouri Pacific. 7,5O0; Northern Pacific, 16,560; Northern Pa .oific, preferred, 2607O: Reading, 2S90; Rock cIsland, 32575 St. Paul. T,141; Southern. preferred, 4,6S0; Union Pacific, H,S20; U. P. .i b. and G. 4,425; Tobacco, 5,42O;. Peoples Gas, 16, 390; Consolidated Gas, 4,635; General Electric, 5,s45; Sugar. 15s,T2; Tennessee Coal and Iron. 3,as5:, Western Union, 5,S59.
 Money on call steady at 1hQ2 per cent; last loan 1Ac; prime mercantile paper, 50 61sc. Sterling exchange firm, with actual business in bankers bills at s49S1k@4.93 .93Ac for demand and s4.s0G4.S1 for sixty days; posted rates, A.S11s@4.s2 and s4.Sf4Q4S5; commercial bills, A.80.
 Silver certificates, 551kcQ56kc.
 Bar silver. 55ssc.
 Mexican dollars, 44azc.
 Government bonds firm.
 State bonds dull
 Railroad bonds strong.