The times. [volume] (Richmond, Va.) 1890-1903, 1900-04-19
HESITATING MOOD
ON Wall STREET
Operators in Stocks Refrained from
Active Operations.
THE IRON AND STEEL TRADE
Prices Seem to Hinge on the Condi-
tions in This Industry-An Up
ward Move was Checked
by Loss Of Confidence.

NEW YORK, April 1S.-The uncertain
Ties of the speculative situation were so
great to-day that operators in stocks
maintained n hcsitatipg' mood and re-
trained from active operations. Profess
sional traders found it difficult to induce
decline.
Tho street was full of discussion re-
gafding conditions in the iron trade,
upon which the movement of stocks
seemed to hinge. There We're plenty of
authorities who We're willing to be quoted
IN opposition to the gloomy view ex-
pressed by the chairman Of the American
sieel and Wire Company, regarding the
outlook III the trade News of conces-
trade, however. seemed to sustain his
views, or We're. perhaps, the results of
expression of those views The conflict
of opinion brought no definite conclusion
either way, tfe whole speculative situa-
ton remaining unsettled. Prices in the
general list started upward, encouraged
by higher prices from London and under
impulse of antaGonism to the bear cam
palgn, which is alleged to be at the bot
tom of the selling of iron and steel
stocks. Spectators, however, lost con-
insincerity of the unfavorable opinions
expressed over the iron trade outlook
when they saw the iron and steel stocks
again manifesting acute depression
American Steel and Wire sold a point
below last night. 1t did not get back
above last nights price in the subse-
quent trading, and closed :51s off. The
net loss of the preferred was 4 points.
The other iron and, steel stocks were not
SO weak. There seems a sort of specufa-
tive duel waging in Steel and Wire and
Federal Steel, the latter stock crossing
the former and closing nearly a point
higher, and at a net less of only a. When
the renewed weakness of Steel and Wire
was perceived the opening advances in
the general list began to be conceded. In
one or two of the railroad stocks adj
yanceS reached over a point but they
We're very generally wiped out. The mar
ket was extremely irregular for the rest
of the day. The New York fractions and
some of the other specialtes showing
acute weakness. There was period of
strength later in Sugar. General Electric
and some of the railroad stocks, but these
= r1fanoeuvrss failed TO attract any follow
/ ing or to dissipate the feeling of uncer-
! tainty. Net changes are mostly small.
! and the closing was heavy and SLUGGISH.
The money market continued to work
easier, call loans dropping TO ~ per cent.
In the late dealings. The Sub-Ireasury
is disbursing large sums to the market,
! and New York exchange at Chicago rose
to 10c. discount to-day, compared with
1 4Dc discount on Monday, indicating
/ relaxation of interior demand Tor cur
rency, or perhaps a cessation OF seliins
! of stocks for Chicago account. London
is taking advantage of the lower interest
| over here TO borrow money IN TINS
market.
irregular. Total sales par value $50
900. United States new AS advanced q
in the bid price.
Total stock sales to-day We're $4,000
shares
MONEY AND EXCHANGE.-Mone on
cali easier at 21lad3A per cent; last loan
at pa per cent; prime mercantile paper,
41a@5 per cent. Sterling exchange firm,
with actual business in bankers bills at
81 S75sa 4.STs4 for demand and at $4.S4
for sixty days; posted rates, $4.S4l4lQ
ASH: commercial bills, S4.S3a4 $50. Sill
Yer certificates. 6oi5@61la; bar silver,
;591a; Mexican dollars, AZ. Government