The St. Louis Republic., 1900-06-16
STOCKS RULED DULL
IN LONDON MARKET.
FOREIGN BOURSES WERE
HEAVY.
Transactions in the New York Mar.
ket Were the Smallest
Since 1898.
RFPuHiC SPECIAL.

REPUBLIC SPECIAL.
New York June 15.-In London to-day
prices were steady. but quite inactive. the
dullpess extending to all stocks. The move
ments in Americans on the day were mere
ly nominal and the close at about Ne"
York parity. Consols were fairly hrln at
10lss. and money continued cheap at ~
Der cent in the open discount market There
was a further decline in the Paris excnshee
on London. bringing 1t TO price where goio
can be proiitably exported to that center.
Unless something happens TO modify .he
situation further exports of gold from New
York may be expected. Foreign pocrses
were heavy and money was very tight in
Berlin at SIS per cent. The chinese STUD"
ZION continued serious, but the news from
South Africa was satisfactory. Ihere was
an absolute lack of interest IN the market
The days transactions in the local mar
ket were smallest since the fall of 1888.
Movements were almost nominal 1FuHH
stocks and the grangers held fairly wen
during the day and seni-ofiicial assurance
that the dividend on Northern Pacifc wcuio
he 1 per cent and per cent extra Kept that
mock steady. There was liquidation IN MIS-
souri, Pacific, and considerable weakness
was developed IN the steel stocks py the -
cut in price of structural iron.
was probably covering by shorts TO save
the 1s per cent dividend coming OF on the
18th fractions were neglected ana SusE
was firm on traders operations Lohuoh aio
not do more than 500 shares on the oaS
.na commission houses did rothinS- fropd-
bIy 50 per cent of the trading was hy room
cnerators The crop reports were connecting
and failed to excite any interest. IdoneS
continued easy. -.
In the last hour there was sudoeh at-
tack on the market, said TO have peeh III
snired by consolidated exchange ana ohi.
caso operators working on the bear sue %
the market The attack was accompanied
~, assertions that no extra dividend would
<be declared on the common stock ny tne
Northern Pacific directors at sne hieetiiis
then in session special orlre mas i.ssS,i n,aT1
on Northern Pacific which was suceessiui
in reaching many stop orders Inc ASST
fions proved true, the directors of North
ern Pacific declaring oniy l per cent d'i-
dend and nothing extra.
The grangers all sold of In sympathy and
traders had no difficulty in hndlng soiI sol,
Wormser following The iron situation
continued to cause liquidation.
The Powers appear to be cooperating
smicably in China and IL only Japan and
Russia can be prevented from coming 10
blows the trouble there should blow over
Mr. J. p. Morgan, who has just returned
from Europe. ridicules the idea OF Warilke
Developments. Rain is reported in western
Nebraska. Crop advfces from North Dako-
Ia are unfavorable. The Fall City chain
works have been closed down by the
chain trust.
President Mellen of Northern Pacific de-
nies that there is any friction between his
road and the Oregon Railway and Navi-
CATION. The reduction in Southern iron has
resulted in some sales, but they are not
heavy as yet. The prevailing opinion in
the trade is that there Is plenty of business
in sight. but that prices will have to meet
it. Trunk line consolidation rumors have
been revived and now take the form of a
New York Central control of Erie and Le-
high Valley. Lake Erie and Western has
been bought in the belief that Lake Shore
win guarantee a per cent dividend on the
preferred stock The expectations of coal
from the United States continue to make
} satisfactory increase. 1t is not expected
that Louisville will pay more than per
cent next month and no confirmation Is
Forthcoming, for the stories about an IN
crease in the Lake Shore dividend. The
chances are that it will remain at per
cent.