The St. Louis Republic. [volume] (St. Louis, Mo.) 1888-1919, 1900-09-05
LONDON MARKET STRONG
DURING THE HOLIDAYS.
AMERICAN STOCKS RULED
FIRM.
Purchasing for London Account
Stimulated the New York Mar
ket-Sugar Fluctuated
Money Easy.
REPUBLIC

PECLAI
New York, Sept THE London market
during the holidays here and to-day showed
considerable strength. consols in particular
being quoted at a price ex-dividend equal to
an advance OF y per cent since Friday.
American stocks upon the whole were firm,
although rather neglected. and the general
market was steady. Money tended easier
In London, but no change was recorded in
Berlin or Paris. Exchange In the latter
centers showed quite an apprecisble decline.
Bar silver was noticeably strong and was
given some assistance to the stock market.
tn political outlook was generally re-
garded as more assured. French Rentes
In particular showed an advance OF half a
point. The European press was inclined to
take an optimistic view of the prospects of
q settlement in China
In the local market purchases to the ex-
tent OF some 1900 shares for London ac-
count had a very good effect in stimulating
an otherwise rather neglected market
Operators. however, In the railroad stocks
were disposed to hold of pending the pub
hcstion OF the result of the Vermont cleo
ton. Sugar huctuated quite a little, rally
ing sharply on an attempt by a prominent
short TO cover. The forecasts Of the divi-
dend were various, although the rise In the
afternoon after the adjournment OF the
meeting gave room for some hope Of an ad-
vance. fractions were heavy on the belief
that the Republican party IN the State
would make the enforcement Of the fran
chise Law a prominent plank In their plat
form. Chicago was a persistent seller OF
rsopls.s Gas, and the room was IN n
ticipated reduction Of the dividend than TO
the stories OF revived competition with the
was mainly confined to the Industrial stocks
and the tone was very firm.
Sugar was advanced rapidly on the
that a Dividend would be declared before
the close of business. Peoplee Gas showed
Etsle recovery. and sdvices from Chicago
tinue: The rally seemed upon the whole TO
be at the expense OF the shorts. Railroad
stocks continued firm. with, however, very
limited trading IN them Talk of a dividend
on chesapeake and Ohio WAS current. The
borrowing demand showed a little scarcity
In spots; but a reduced short interest upon
the whole
The Russian proposals for the evacuation
OF Pekin seem to be bearing very little
fruit. Germany seems quite unwilling to
withdraw without making an extended cam
paign against the Chinese. and the other
Powers are not likely to recede from their
present position without a guarantee that
Russia will do likewise.
Experience OF the diplomacy of that Pow
er is likely to make the British. at least, ex-
ceeotngly cautious In accepting Philanthropy
ic proposals for the Termination of hostili-
ties on a basis OF complete Russian con-
troll IN China, without even the promised
guarantees for the liberty of American or
British trade. Steel and Wire declared the
regular quarterly dividend OF ia per cent
on the preferred, and ordered the aymen
of IN per cent on the common stock, as
already declared. The company proposes 10
establish a Bessemer plant at Waukegan,
with q capacity Of loo tons a day. The
cost is estimated at $4,000 and should be
an important factor in the structural steel
business.
Peoples Gas has commenced cutting rates
against the Ogden people, and the dividend
forecasts are not cheerful. So narrow a
margin was shown after the declaration Of
= per cent that, even II a continuance at
tnat rate were possible. 1t does not look pol
iuc. The Manhattan annual report shows
g surplus for the year before dividends of
Eeoz.5l6. Outside operators showed a dis
tinct inclination TO hold off pending the re-
SUIT OF the Vermont election. The most re-
nenie forecasts indicated the expectation
mat The Republican majority would be re-
Guced by some 1900. 1t is believed that
tIe party managers would be content to see
some such result II It would only stir the
.oneWnat apathetio feeling of the Repub-
hcan voters elsewhere. Money very easy.
BOND SALES AT NEW YORK.