The St. Louis Republic. [volume] (St. Louis, Mo.) 1888-1919, 1900-07-13
lEMERlCAN STOCKS STEADY
IN LONDON MARKET.
FOREIGN BOURSES INCLINED
TO WEAKNESS.
Stocks Still Affected by Chinese
Situation-Industrials Neg
lected-Money Easy.
REP-RIIC SPECTAL

New York, July Ie.-AIthough the general
list was heavy and consols lower. American
stocks IN London were steady all day and
closed firm and at best. Foreign bourses
were rather inclined to be weak and money
was dearer In Berlin There were no changes
On the current rates Of exchange and the
Bank OF England did not change its rate.
The bank return was not a strong one and
showed a rather low proportion OF reserve
10 liability and considerable outflow OF
gold to other centers. The Chinese position
was still exercising an adverse influence
On European markets.
In the local market at the opening trad
ers exerted a good deal of pressure. but
the buying In Union Pacific. Norfolk COM
mon and Chesapeake and Ohio on dividend
prospects soon rallied stocks. They became
\ dull and inactive later. bu: considerable
Arength was shown in places. New York
CsntraI was firm On the approval Of the
Boston and Albany lease by the Massachu-
sets Legislature and Union Pacific was at
nlI times well bought on the anticipated
declaration of 4 per cent dividend. Indus
trials and fractions were a good deal neg
lected, the interesting, for the most part. in
the railroad stocks. The return of Messrs.
Saloman and Bacon from Europe was not
displayed in B. & o. common. Opinion was
divided In the room on the question Of the
Norfolk dividend. and although II was
known that per cent surplus would be
shown II was doubtful If any dividend will
be paid. One per cent on Chesapeake and
Ohio was considered assured and the room
was inclined TO discount the possibility of
a small increase. Money was very easy.
The close was dull, but fairly hard at some
recovery on the lower prices of the after
noon.
profit-taking. and the buying was Of good
character. lndustrials and fractions were
neglected and inclined TO close heavy, with
the exception of Sugar, where trade buying
gave fair support. The borrowing demand
showed some reduction in the short interest
but the granger stocks were evidently over
sold.
The Chinese position continues serious.
and most authorities are inclined to regard
3ie official dispatch from the Chinese Gov
p<ynme1t as preparatory to admitting the
murder of the ENJOYS and regulating re- !
spcnsibility. The definite announcement of |
this Government and that of Japan that !
they will not countenance the dismember- |
ment of The Chinese Empire has had d |
somewhat rsassuring effect |
England. Japan and the United States are /
apparently acting unanimously IN this mat
ter 1t is lGle. however. to expect much |
public interest in Europe in the stock mar
kets until the question is settled one way
or another. The room seems fairly conil-
dent that the Illinois Central dividend will /
be advanced TO per cent. and there Is good /
reason for believing that Messrs. Hartman
and Fish are in favor Of such a course. |
dividend payments are the factors in the
market at present. and among other stories
OF a like character there Is one that Col
orado Fuel intends to pay the back divi-
Cends on preferred stock There seems 1T