The St. Louis Republic. [volume] (St. Louis, Mo.) 1888-1919, 1900-07-17
C0NS0LS DECLINED
IN LONDON MARKET.
AFFECTED BY CHINESE SIT.
UATION.
Union Pacific Exhibited Strength
on Anticipation of Four Per
Cent Dividend.
REPUBLIC SPECIAL

New York, July 1s-The decline In Eng
ii.h consols amounting 20 some three-e!shths
per cent or the day and bringing the price
near to the lowest figure within ten years,
showed the anxiety OF the European mar.
ksts OF the Chinese question and tended to
make business dull The general market
was heavy # consequence, but the strength
IN Union Pacific helped American stocks In
the London market There was distinc;
tendecy toward dsarer money IN London,
and tire reduction OF the bank rate in Ber-
In did no; seem TO help the position much
there. Exchange tended lower in Paris and
the movements in New York indicated the
possibility OF gold shipments.
II the local market the strength exhibited
In Union Pacific on the anticipated per
cent dividend on the common WAS the fea-
ture Of the day. London bought some io."l
shares and conmiss.oa-houses also seemed
10 have quite a considerable number OF or
Gers. Baltimore and Ohio advanced OF buy
Ing Of not quite so good a character and
rather gave the idea that the stock was
being manipulated to unload some Of the
purchases maze on the issue of the new
stock little while back. The report of
hea-y and general rains IN the corn belt
l caused quite a rally IN the Granger stocks,
with considerable covering OF shorts for Chi
eago. B. p. 7. was lower ana the belief
was current that considerable amount OF
stock had been Bqulda;sd in the past
month Tor an interest closely connected
with the company. Sugar advanced on a 10
point rise IN the price Of refined sugar. The
close was firm and within q fraction Of the
eest HSures OF the day IN most railroad
ing IN all 10
was good and the soft coalers were strong
On the expectation that the Chinese wsr
"ou4o increase the demand for this class OF
coal 3. r. T. was the only weak spot In
the market. and the selling there seemed TO
De very good. II looks as IL the bears would
make DEAD set against this property.
Ine Chinese situation continues very serf-
Gus and its effect upon the European mar
kets Is being severely felt. Possibly the Of
hc'al confirmation OF the death OF the Ers-
Foys IN Pekin may mark the limit Of its
present erect upon American stocks. but
the feature Of European complications. on
the DINER hand Is evidently general and
genuine. A special session OF Congress may
pc held TO deal with the matter. Rains
caused the sharp break in the price Of corn.
ana the nor wave is apparently travelling
eastward from the corn districts.
re advance In the price of refined sugar
eifer allowing for rebate makes the net
price so@- This ia reckoned to mean a
pront daily Of SIS. COO TO the American ST.
gar Henning Company. English advices to
naho indicate the continued scarcity Of coal
there, AMI this is creating a disturbance
N all manufacturing centers. 1t is ascribed
IN a great measure to the demands of the
iacofers. who wish the price kept UP in or
Ger 10 get higher wages. 1T is an i'll wind
mat blows nobody any good" and the re-
ports rom the soft-coai districts indicate
s saa AnieI1ca Is taking full advantage OF
the opportunity. The upward movement in
demand sterling. together with the low ex-
c Sass,,st IN faTs. begins to point to the pos
roiuty o! gold shipmsnts. especially II the
Bank OF France will hold out sufficient in
oucements IN the way of interest and price
o. 9oio eagles, II will make il worth while.
higher levels.