The St. Louis Republic. [volume] (St. Louis, Mo.) 1888-1919, 1900-09-21
LONDON STOCK MARKET
HEAVY AND LOWER.
STRENGTH IN SOME OF THE
AMERICANS.
Liquidation Continued in New
York Market-B. IL q. Weak
Money Hardening.
REPUBLIC SPECIAL


New York. Sept. 1a-The London market.
was heavy and lower. cle-ing, however.
above the worst. Considerable strength ia
some American stocks was shown on The
g.reet, Berlin. In particular, buying about
A1ChisOn. Amsterdam was Il heavy
seller OF Canadian Pacific. There was no
change IN money or exchange, and the
Bank Of England did not alter its minimum
discount rate. Tie return was a good one
and showed a gain IN bullion. IN spite
Of withdrawals for Germany. Bar silver
continued 10 show considerable strength.
There vas no fresh news on the Chinese
question
In the local market the liquidation 0f
Wednesday continued. hut was rons.Iera-
bly, more specialized. and d good deal Of
strength was shown IN spots. Baltimore
and Ohio was very weak, on the belief
that the underwriting syndicate would be
saddled with the rev stocks. as the price
has now fallen below 90. the amount of the
;nstallment due october !.
Missouri Pacific was very weak on what
locked like pool selling, and there nas a
good deal Of pressure on Northern Pacific.
The weakest spot III the market. however.
was the steel stocks. Liquidation IN
Tennessee Coal aud iron was heavy, and il
was said that the earnings at present did
not show 3 per cent on the stock. There
seemed Ia be a weak bull account in Amer
lean Steel and Wire. and Federal Steel. al
SO, sold of.
There was a good deal OF pressure on
brooklyn Transit and the other fractions.
The selling in BROOKLYN was believed TO
come from the political element. Ameri-
can SGger met with good support on the
decline. IN spite Of the closing down Of
one refinery Of the National Sugar Com
pany for lack OF raw sugar. Money showed
! Il hardening tendency and looked likely 20
Ftay In the neiglbOFhood OF = per cent.
The close was very weak, ana practically
at the lowest of the day. The UEiy good
support In the market seemed 70 be IN
the grangers and trunks. II was said that
Inc old inside bull pool in Tennessee Goa!
ana Iron had broken up, and the days
hquiaat!on was the result of IT, Such pool
stocks as Missouri Pacific and Baltimore
and Ohio were very weak. The strike HEws
was considered uulayoSabIe. and there WAS
renewed pFessuds On Reading ard other
harG CO5lers.
Il is doubtful If the German demand for
We SURRENDER OF tnc authors OF me recent
1ltfaEc5 IN China can ce satisfied ana me
emperor lIS.stsuc- upon JndL cUna-IloA
tenCs 10 cOmplicate the situation. A. II
stands now. Germany and Great Britain ai-
Iedf 10 DE working together against me
stntr European foWcTs, and GnaIHnilA
seems a. tar of as ever. The news from
South Africa Is good and the war there may
De Regarded as over.
The market benefited to-day from good
suylnS IN The ~eTaIEcrs. and there Is every
reason 10 believe thar al the Big -Four
sIefLng yesterday was taken by the best m
roe interests. The room did not seem to
tale fof the Brooklyn Transit report, but. as
LnclbGes tie operation of subsidiary roads
- part OF the system, comparison Is out OF
~ question. The German loan recently
to1leq has been very well subscribed. There
ntlie fresh news from the strike district,
nut The men are apparently lev no means
unanimous The Colorado Southern report
aADNs q SGTn.lS- for ThP wear 4nrlnE Iitsl'A
OF S'06,S6S. The BUrdiR Steel CONF any
MI put in its furnaces Immediately. The
.Vnon report shows 4 surplus after charges
81 soesSl, against S274TE. Passenger rates
= me West are being well maintained ana
4 nssesnt rates are fair. although they fiuctu-
~ signify. While there has been a good
Ea,A OF liquidation on the break in the mar
co,.i Is also certain that there has been
yoasslaerable short selling as well. The bor-
citr IS demand indicates considerable scar
on, IN the grangerS-Surar. Baltimore and
ana Tennessee Coal and Iron. The
ms-Ineat seems to he more bearish on the
vE6idSSei, position than on the vaiue Of stocks
"Hea look cheap.