The St. Louis Republic., 1900-12-18
FINANCIAL.
N. W. HARRIS e. COMPANY
BH Frs
CHICAGO NEW YORK BOSTON
AMERICANS STRONG
IN LONDON MARKET.
STOCKS IN NEW YORK WERE
STRONG.
Market Fluctuated Wildly Near
, the Close, With fractions Strong
and Then Easing Of.
+ REPUBLIC SPECIAL.

tSf.ft SBEtlAI.-
New York. Dec. 1..-Americsn stocks
were the feature Of the London market to-
: Gay and showed great strength with ad-
rances extending in some cases to IL. per
cent. Reading frsts. Fries. Pennsylvania.
Northern Pacific and St. Paul were the
features.
The general market was firm and consols
ht s7ii.
South African news was unsatisfactory
and there seemed to be another hitch in
the peace negotiations in China
Discount rates were unchanged, but ex-
Change was lower in Paris and the Bank
Of England expected to lose gold to France
knd Germany.
In the local market trading in the first
hour was enormous and great strength was
ehown- London dealt in 10000 shares dur
Ing the day. buying at least 5000 on
balance. There seemed to be a contest be-
tween the professional element. which was
willing to take profits and even sell short,
and large public demand. After some re-
action due to the heavy realizing the close
was very strong. fractions We're especial
~ nrm on buying of good class ana ru-
snors Of closer relations between the COM
panies Northern Pacific recovered all lis
reaction and advanced on buying. said to
large public following St. Paul was the
noticeable feature in the other granger
I stocks and was well bought on any reces-
Oion Pennsylvania was strong and the
aging in the Vanderbilts was noticeable as
Indicating a sangIine forecast Of the divi-
: oends due this week. An increase WAS
talked of for Lake Shore and 1t was an
ucipated that Payment would be made on
Nickel Plate seconds Industrials were
relatively heavy. with considerable liquida-
non In the steel stocks.
The market fiuctuated wildly toward ;he
ciose. with fractions very strong, and then
easing off rapidly In few minutes. There
was heavy trading both ways in the rail-
road stocks. The uuGertone was distinctly
good, and the borrowing demand did not
show any scarcity of stock. except IN Erie
ISSUES and Atchison common. Humors OF
sh impending change i'm the personnel #
He Brooklyn Transit Board were current
an WeIi-lnformed quarters. The Close scn-
SSlaaiy showed a recovery from the loW.St
PI,its touched during the reaction.
~ Is generally expected IN London that
sne rank Of England rate will he advanced
T. IN inursday TO at least ar per cent. and
:. ausurS well for the strength OF that insti-
sueoh tnat the increase has been delayed
- - long. This will represent the standard
xaa money probably over The end OF :he
20 ana the last December settlement on
~ LONDON Stock Exchange, and does not
Eu~ Er~a state of things that need frIStten
MI;,SIpean markets without some serious
HlSchance elsewhere.
ssb .e market has made very little OF Brit
nllshaps in South Africa, and takes the
cantse ese difiiculty easily. There are, on the
evsn nnhG TO buy back American stocks.
ANsn He me higher levels. The position in
srr",nork so far as money is concerned, Is
Yers.tl lhan abroad. and the large bull in
strinsa,cah can DO great deal to prevent
pacsTe was was very large buying of Southern
yirianc uurins the day on a rumor of a di-
mon. III VI the stock into equal parts com
euch eha preferred. 1t would be possible in
a q nsr se 10 place the preferred stock on
: n 1o.,oent cent basis. and in the circumstances
isfs"tod be strong bull factor. 1t is sat
4 asa;S 10 notice that Northern Pacific
.inss sam beginning to show increased earn
~ st the Northwest has seen the worst Of
Soits of the crop failures.