The St. Louis Republic. [volume] (St. Louis, Mo.) 1888-1919, 1900-07-11
AMERICANS CLOSED FIRM
IN LONDON MARKET.
CONSOLS ADVANCED ON
CHINESE NEWS.
Trading in New York Marked by
Considerable Rally at the Ex-
pense of Shorts.
REPUBLIC SPECIAL.

New York July I0-fordon was occupied
with the ARRANGEMENTS OF the fortniShtly
settlement this morning, but after that
was completed American stocks showed
fair strength and closed firm Consols ad-
vanced a little on better news from China.
but receded later In the issue OF new To-
cal loan. Money was d little iirmer in Lon
don on the proximity Of another INSTALL
rnent Of the war loan. There was no change
in money or exchange in Paris or Befhn.
The Chinese news was indefinite, but, upon
the whole, better.
In the local market the trading in the
earlier part CT the day was marked by a
considerable rally at the expense of snort
interest Brooklyn Transit was rapidly bid
I'D some points or more. but when the
shorts had covered, reacted quite little
No official contradiction was issued or the
figures published yesterday, and the street
was inclined to accept them as being sub
stantialIy correct. Pool buying was report
ed in b. & o. common. but little dehnite
news was forthcoming on the dividend The
room was pretty confident on the question
OF the Louisville dividend most OF the day.
and there were at all times more who Ia
vcred per cent fat than II: per cent eN-
ira 1t was understood that important in
side interests favored a per cent rate IN
Illinois Central. and the strength IN that
stock was very well maintained. Sugar was
advanced on purchases said to ne Tor
trade pool. and 1t was currently reported
in the room that the company was making
! SCI 900 a day on the difference between raw
and refined sugars. This would be equal TO
q, per cent on the stock The declaration
of per cent on Louisville semlannuaiiy
helped to strengthen the market, and the
rff,.sft N~ ha-r
close was firm In all departments. material
ly assisted by the covering of the shorts
around the room The borrowing demand
still indicated a market to some extent
oyersold, although Il. * y. common was
more plentiful.
but 1t seems to ilold out some nope for he
ENJOYS at present imprisoned In Pekin.
There seems to be considerable unanimlty
among the Powers, and it Is probable that
the unsettled state OF the Russian financial
position has a good deal to do with the
peaceful attitude Of that country. 1t Is no.
ticeable, however, that consois do not ma
terially recover, and doubt the reward
the japanese will claim after the occupa-
fion of Pekin will be a very ticklish ques-
ton for the Powers to settle.
The Government crop report, published to-
DAY, was considerably more encouraging "a
the market on both winter and sprins
wheat. Wabash earnings showed an in
crease of Sl4,sI4 for the first week in July
Good buying was 'eported in glucose. and
IL said that the trade conditions al
present were remarkably favorable. Pres
ident Hill talks very hopefully of the pros
poets of his line when his Pacific steam
ships are completed and forecasts an in.
creasing Japanese and Chinese demand
after the present trouble is over. A dead
lock il reported between the Chicago ulu
nicipaiity and the Ogden Gas Company
Tho company is unwilling TO grant the con
cessions demanded by the city. The aver,
age condition of cotton at 75.GS announced
to-day is the lowest for many years Lon
don bought probably some 10.oeo shares or
s balance during the day. Some difficulties
Ssare reported between the employees of thf
x3ersey Central and the company. Labor
3roubles are also reported on Montana Cen
Aral. but the Great Northern anticipates nt
adificulty in dealing with them.