The St. Louis Republic. [volume] (St. Louis, Mo.) 1888-1919, 1900-10-03
CVMCET Illustrated
OONoHA Booklet Free
UULD Chronicle Building
-v~vH4 San Francisco
AVAaASAf\O Profits Ample
LONDON STOCK MARKET
INACTIVE, BUT STEADY.
TONE GOOD ON NEW YORK
Decline In American Exchange
Caused Anxiety in London and
Berlin-Money Active.


1EfCBLIC SPECIAL
New York, Oct THE London market
was inactive, but fairly steady. closing
drm. Their was no present sign of any In
creased demand for money. but the decline
in American exchange was causing anxiety
in financial circles. both In Germany ana IN
London. Money rates in Berlin and London
were slightly easier, and exchange in Paris
and Berlin unchanged. There was no fresa
news on the Chinese question. The returns
to hand so far indicate that the present
ministry in England would be reelected by
q considerable majority.
In the local market the tone generally
was good with conspicuous strength In the
Vanderbilt stocks. There seems no doubt
that New York Central will take over Big
Four. although the terms OF the purchase
are merely conjectural at the present. Inc
belief that Lake Erie and Western would De
the next property TO be absorbed caused "A
marked advance In the stock Idnauh
Southern was also firm for similar reasons.
London trading was comparatively light, not
amounting TO more than 5000 shares: Ar
bitrage houses were. however. cGnapictous
sellers of Baltimore and OHIO. There was
a little pressure noticeable in the fractions
possibly coming from the political element.
but good resistance was evident.
The uncertainty Of the position IN raw
sugar caused a little weakness, ana from
the nature of the selling shorts had some
thing TO 90 With lne lower hShitS- 800
ern Pacific was firmer. and is now probably
the heavily oversold stock IN the market
Union Pacific showed signs of a fairly con-
siderable new account. Money was IN active
demand and showed some signs or going
harder.
In the absence of news from China, II is
difficult to say anything new OF the posi-
ton in the Far East. but. to judge 10y Der
lin advices. the German intentions are per
haps less warlike. South Africa Is :api!!y
becoming more tranquil. and. as the English
general election points to the return OF the
present Government to power. the Boefs
are not likely to be encouraged TO prolong
their resistance. The general election, how
ever. is decidedly checking business IN The
London market. and may continue TO 10 SO
until the middle of the month, when the
result will be known and discounted. The
return of the Liberals to power would, be
q rather serious bear factor just now. but
this is very unlikely.
Although the strike still dragS Its SLOW
length along, there are signs of disinteSra-
ton. and most of the authorities believe II
Will be over by the end of the week. 1t
Is satisfactory to know that the Transcon-
tinental Association has been formed ana
the market anticipates a stability in rates
which will materially help Atchison, South
ern Pacific and Union Pacific.
Toward the close of the market to-day
Tennessee Coal and Iron was corSpicuously
weak and adverse rumors were current as
to the dividend meeting on the 18th. but
We're unconiirmed. The market generally
showed a tendency to sag from profit
taking. and proba biy short sales by room
more than a natural reaction after the re-
cent advance. The borrowing demand
showed very little short interest in the
market.