The St. Louis Republic. [volume] (St. Louis, Mo.) 1888-1919, 1900-06-08
GRANGER STOCKS AGAIN
ACTIVE IN NEW YORK.
INDUSTRIALS MAINTAINED
FAIR STRENGTH.
Speculation Was Checked by the
Row in Chiua-Rail-
roads OvcrSOld.
REPUBLIC SPECIAL.

REPUBLIC SPECIAL
New York. June THE Lonlon stock
market was inactive and Inclined TO be
heavy to-day, on ;he unsettled position in
the Far East. The Berlin market was also
causing some anxiety. The Industrial posi-
ton there was very unsettled. and there
was q further break Of 10 points IL the
E;sel stocks. II was also reported that "A
large Industrial concern was in difficulties.
There was n change IN the money posi-
ton in any Of the European ~csnters, and
the Bank Of England ID not alter its rate
Of 81 per tent. The figures In the bank re-
turn were very good. although q great deal
of gold has gone out in the course Of tHe
week. There vas 10 news Of importance
81 South Africa.
The activity ln the rra-Ger stocks was
again she feature Of the local market at
the opening. ann although large sciliag
orders cane from The West. IN view e
the drought and las possible effect on the
wheat crop. the Normser following save
very good support. london sold about G.pt"
shares Of the international Hist. principally
Paciiics and range
lndusCri.is maintained very fair strength
al day and no change in the steel trade
was reported Of suh nient Importance to al
ter the position. The fractions were fairly
firm, and railroad stocks gave rather the
impression of being oVersold- II Was no.
that stock was well taken on the
declines. while buying orders I'm any OF the
higher Glass securities We're difficult to fill
without advancing tho price materially.
Money continued very easy and has prac-
tically ceased to lie 4 factor in market
movements. In tbs respect the local
scarcity, in Berlin has had surprisingly
tinued inactive up 20 the close. The volume
or transactions was smaller than Tor n i-HS
time past. Prices were steady. The rail
road stocks held NJ, helped by the short
interest. The position abroad continued to
check speculation.
The mUddie in China IS undoubtedly hay
Ing Il considerable effect In checking Specu-
IatlOn in Europe ana here. The difficulty Is
not So much that the Powers have naG 70
intervene. as that Russia may seize upon
an excuse TO send troops into the country
and thereby provoke a rupture with the
japanese. VINO are still very sore over me
way they were robbed OF the fruits of their
victory in their war with China. The best
guarantee for peace IS that all the Powers
ere interested. This mag operate as 4
check upon Russian aggression on the one
hand END japanese resentment on the
other.
The Northwest surplus IS a good one,
amounting TO S,5si,H19, after the aymen
OF the usual dividend on the common and
preferred stocks. The advance In the price
OF wheat has helped TO give strength to
Archison issues in spite Of the recent heavy
selling. The regular semlannuai dividend
on the St. Louis and san Francisco first
preferred has been Ge-lared.
New York Air Brake continues TO show
considerable strength. although Its pr"si-
dent denies that there viii he a merger
with the Westinghouse, \ rumor was cur
rent Of the consolidation Of Reading and
Jersey Central during the day. Il may be
pointed out that this is impossible, because
when Reading leased Jersey Central some
ihe courts on the ground that il was an In
fraction Of the antitrust law.