The St. Louis Republic. [volume] (St. Louis, Mo.) 1888-1919, 1900-08-15
LONDON STOCK MARKET
EXCEPTIONALLY STRONG.
AMERICAN STOCKS WERE
BULLISH.
Huntington's Death Had Little
Effect on Prices-Lead
Was Very Weak.
REPryBLrc

REPUBLIC SPECIAL
New York. Aug. A.-The London market
was exceptionally strong to-day in all de-
partnents. and the close. both Officially and
on the curb, was ct the best prices OF the
day. Consois advanced almost q per cent
on the belief that the allied forces had
reached Pekin. and the prospect Of easier
money continues. due to the arrival of
American gold. Paris exchange was strong
er. but still sufficiently low relative to New
York rates for gold. The tone Of the Lon
don market generally was considerably
more bulnsh. especially on American stocks.
The event In the local market Of most in
terest was the death of Mr.. G P. Hunt
ington, and II was curious to note what lit
tie effect It had upon prices. With any con-
siderable bull account open, such an event
would have seriously affected the whole
railroad list AS 1t was, even Southern Pa
cihc only suffered to the extent Of half e.
point or SO, while Atchison was nrmer. on
the removal Of Its most dangerous Compel
i.or. Tie strength Of the general market
seemed to have tempted the bull pool in B.
& o. common to realize part of its hold
ings. TIE stock broke rather easily on this
selling and pressure from traders. The pool
IN Sugar seemed willing to allow that stock
to react somewhat after its recent rise. but
the buying was very fair on the decline.
The best known OF the Consolidated Stock
Exchange operators was apparently respon-
sible for the strength shown In Brooklyn
Transit and Tennessee Coal. The excellent
Manhattan statement encouraged a little
buying in that stock and reflected some
strength In the other fractions.
The close was generally firm, with the ex-
ception OF Sugar and B. & o. common,
where pool support was conspdcuousiy abb
sent. E'uying in the grangers and the
trunks continued very fair. and the market
began to look as II the larger interests were
not unwilling to talk hold. Commission
houses did rather more business on the day
than for some little time.
There were no fresh developments In the
loan crowd: The Chinese news indicated
that the allies were at or near Pekin and
the strength In British consols showed how
important its effect was on European mar
kets. The only difficulty now remaining is
exact from China If the indemnity takes
the form. of concessions of territory there
Is stin plenty Of opportunity for a %sQuabble
to accept the German Commander-in-Chief,
however, 1t looks for the present as If they
were working IN accord London evidently
\end from the absence Of news it looks as
II the British War Office had something up
its sleeve. 1t is officially reported that Mr..
Huntington's affairs were left in excellent
shape. Lead was very weak. and it was
reported on fair authority that the company
has lost heavily selling futures. Although
there has been a little shading Of soft su-
gar the relations between the American
Sugar Company and the rest of the trade
continue anicable. 1t is generally anticipated
that there will be no change in the agree
ment with the Arbuckles, but the nearness
to the presidential election makes 1t unlike
ly that the company will increase its divi-
dends.
The banks are lending money at 3D. per
cent for three months on good mixed
collateral. and 1t is worth noticing that this
carries over the presidential election. The
market In its present position would stand
a very heavy drain from Europe without
appreciably tighter money.