The times. [volume] (Richmond, Va.) 1890-1903, 1898-03-24
STOCK MARKETS
STILL DEPRESSED.
On Account Of Doubt Over the Cuban
Situation.
A WELL DEFINED BULL PARTY
On the New York Exchange Subtracts
Materially from the Depression on
the Ground That Prices are Not
Warranted by Conditions.

NEW YORK. March 23.-The doubt
over the outcome OF the Cuban cOntro-
persy between the United States ana
Spain was a depressing influence in the
local stock market to-day. as II was in
every market FOR securities in the world.
In Paris the weakness OF Spanish 4 S
affected all other securities by sympathy.
and the same influence weakened the
markets I'm London and Berlin. the heavi-
ness OF American railroad securities be-
ing an additional factor at the latter TWO
centres. on the local exchange there was
a well-dehnod bull party, whose opera
tons were attended with more or less
success. thus subtracting very materially
from the sum of depression. Inc mo-
tive publicly avowed by this bun party
for It's attitude is that prices are lower
Than they are warranted by intrinsic
values and beyond the political outlook.
10 is doubtless Influenced also by the
technical condition Of the market which
BIS full of short contracts waiting 10 De
covered on the expected slump on anuci-
patcd developments In the CUBAN ST
ton. There IS temptation Tor Dun
clique TO mark up prices IN such mar
kct and force the bears 10 cover. Inc
success Of the bulls to-day was only
moderate I'm inducing covering, Dut thty
did discourage further short selling. ana
twice rallied prices from declines run
ming up 90 point or over IN many prom
inent stocks. The market closed win one
~ these rallies In force, so tndt the net
changes are for the most part inslgnin-
cant. and there is tair sprinknng OF
gains The industrials continued TO ne
the chief features or the depression,
Metropolitan street railway and sugar
being especially marked out for selling
pressure. The railroad list was pretly
well sustained. and the Northern Pacihc
stocks and Union Pacific preferred show
cd not "a little nrmness. The resistance
to the threatening news developments or
The day can only be attributed 10 what Is
regarded boy the bull faction as its over
sold condition.
on the Cuban question equally with
stocks Bankers are lOath to put out
money i'm time loans, although the aNala-
bile supply with the replenishment or me
gold imports is said 10 be quite large.
TO-day's falling in exchange and the re-
uewed engagements of gold may be put
down 90 the apprehension over the tu-
ture rather than TO present actual de-
The bond market continued to lack
animation. trading being confined 10
frW speculative issues Inc tone was
weak Total sales, 81 $4,000 Lhttd
States new as. registered, declined lt2,
do coupon Ia, ana the old s ana the
IS ,, bid There were sales Of the new
as al 100 the bid price.
The total sales of stocks were E9eOp
shares Northumberland. Burlington and
Quincy. 81. $40. Manhattan. 2l52o; Metro
pOlitan street railway, l1.S0S. New iork
tspnfrai 300. Northern Pacific preferred,
lOg1J. Rock Island. $50: St. PAU. %
$50. Union Pacific preferred, 80
American Tobacco, 12,16j; Peoples Gas,
1U.n5. Sugar, 6j,29j.
The Evening Posts London financial
rablscram says. The stock markets mere
are stacnant and dull, being entirely
dominated by the Cuban question. The
feature to-day was the sharp drop IN
Spanish As. They opened at J3l2 touched
So and closed al j3t. 10 Is still believed
here that New York traders are dealing
bon them Americans gave way In sym
unfhv with the New York lead. STOCK
BE- NOT really pressed FOR sale here, but
there arc fair reallzatious from the CON
iment The close was better on New
York support. 10 BIS believed that the
Chinese loan has been only about half
appued for here. 10 is quoted at half
discount in the market. At the allot-
ment Of English treasury bills to-day
nearly t2O0OUOO were taken In twelve
month bills at 3-l6 per cent
MONEY AND ENCHANGE.-Money on
call easy at 1902 per cent; last loan
at . per cent. prime mercantile paper,
Al aIi. per cent; sterling exchange
weak. with actual business in bankers
bills at 4S3L04S3% for demand and at
4S104N1L for sixty days, posted rates,
4SgG4S2t. and 4SJ04SJis: commercial bills.
3SOi.. Silver certificates. j6nJGr@, bar
silver 80. Mexican dollars. ~. Govern
meut bonds weak; State bonds dull; rail-