The St. Louis Republic., 1900-06-13
CALIFORNIA
GOLD MINING
ILLUSTRATED
AMERICANS IN LONDON
CLOSED FAIRLY FIRM.
SAGGING TENDENCY IN NEW
YORK.
Chinese Situation Causing Anxiety
in European Markets Money
Continues Easy.
REFuBLIc SPECIAL.

New York, June 12-American stocks in
London, after opening rather heavy showed
more strength and closed fairly firm. This
being the first day of the fortnightly settle
ment, transactions were for the new ac-
count, a fact which generally stimulates
little buying. Consols We're firmer al 1914.
but the general market was inclined TO
sag from neglect. Berlin was steady, and
there was no renewal of the unsettled con-
dition of last week. but money there was
tight at 5 per cent. The position in China
continued disquie;ing. and the cables from
South Africa were less favorable. although
kthose emanating from Delagoa Bay did not
look very veracious.
In the local market the tendency was to
sag wherever support YVES Withdrawal.
Purchases by London to the extent Of l5.-
600 shares gave some strength in the morn
ing, but II was lost later. The Government
crop report was not favorable and grargerS
were heavy. As this report does not include
anything after June ]. 1t is scarcely a good
guide as to the position, particularly as
the worst part of the drought has occurred
since that date. Atchison preferred. how
ever. was well bought, and the declines
elsewhere were not very great. Missouri
Pacific was lower on continued liquidation.
and the steel stocks seemed to be the
tion IN Federal Seee! ana Tennessee
Coal and Iron was persistent. and ad-
verse dividend ruulors were current about
the latter. Sugar was firm. without any
special new developments. but the trac-
tons were weak. Railroad stocks closed
inactive. but fairly firm, with quite a little
covering Of shorts. Sugar was the strong
est spot in the market, although the trad
ing in 1t was mainly professional. The
steel stocks were weak, but above lowest.
Relatively to the small account open. the
borrowing demand indicated railroad stocks
rather oyersold. Money easy.
The strength In British consols IS the best
index to the position in China, but affairs
there aSe causing certain amount OK
anxiety in the European market. The best
kppinion, however. is that while there IS
1Apple material for quarrel .he fact that
all the Powers are represented will check
any outbreak The movement in exchange
IN Berlin and Paris is Interesting Just at
present, and indicates that gold may go
from London to Berlin, while the advance
here against the decline in Paris makes
gold shipments by Thursdays steamer ex
ceedingy likely. Street estimates SO far
put this outflow at $,vvo,Oo1.
Louisville earnings published to-day show
an increase of S,55s,olS from July L The
stock is earning about "a per cent, but II
may be taken as practically certain that
the dividend rate Will net be changed. The
Government crop report was disappointing,
as IL did not give the condition by states.
A further advance in the price of wheat
shows that the trade considers the crop out
look pretty bad. Manhattan declared the
usual dividend to-day of per cent quarter
ly. Western Union Will declare the regular
quarterly dividend of II. per cent ST. Paul
earnings showed a decrease and were a dis
appointment to the room. II is said tnat
American operators in London covered
shorts yesterday and to-day.