The St. Louis Republic. [volume] (St. Louis, Mo.) 1888-1919, 1900-05-24
C0NS0lS DECLINED
IN LONDON MARKET.
GENERAL MARKET RULED
HEAVY.
Shorts in Sugar Were Successfully
Raided in New York Mar
ket-MOney Easy.
EEPTRT.IC SPECIAL.

lsEEt Hsi| SIE'lAf&
New York. May 23-The most noticeable
movement in the London market to-day was
the decline of y point in con-ols on the IN
~ticipation that the Government would find Il
necessary t. float a new war loan. Money,
however. continued easy ana American
stocks showed considerable strength on
rather limited transactions. The substau-
tiai advance Of !. 70 = per cent WIS record
ed in the money to-day. The general mar
ket was heavy and neglected qnd from the
movements in the mining stocks II looked
as II the bull account was rather premature
in View u; the possibilities of the South .hf-
rican campaign. There was nc s,riAirg
feature of the foreign bourses and the finau-
ciaI and political conditions in Europe we're
unaItered.
In the local market successful raids upon
the shorts were made In Sugar transactions
and in a less degree in Tennessee Coal and
Iron. Sugar was helped by a t1-crnt ad-
vance in the price of the refined product.
but Mr.. Havemeyer was at the trouble e.:
officially contradicting trade Settlement ru-
mors. Probably some of the advance in the
general list Of yesterday and today Was
due to the fact that Jacob Field and ".
Oliver, who had recently operated on tie
bear side, had covered shorts prior to their
departure for Europe. Thu railroad stocks
s'A' ~ lv 1 btA -.lJNfF fFF =
siderable strength, and Seemed IN most in
stances well held. The demand for bonds
continues good and reflects itself allcady IN
some degree In the paying stocks. IL 1: were
not for the uncertainties of the presidential
campaign and its sentimental afrer: lron
the market an Upward movement in the
railroad stocks at any rate might he pre-
dicted from the present condition Of oiIsi-
ness.
The close all around was distinctly weak.
and. the covering Of the short interest be
ing concluded, there was a sharp reaction
all around. Sugar receded > points from it's
highest price and the whole list showed a
fractional decline. Money continued easy
all day.
The British advance on Pretoria continues
and In spite Of the successive stands
which Boey sympathizers have predicted ar
Winhurg. Kroonstad. Vet River, Vaal
River, and so on, the British seem 10 be
within thirty-five miles of johannesburg.
The serious part of the news is that some
defense may be made at Johannesburg, and
some irresponsible followers may wilitully
Inquire the mining property there. This con-
tinsency is disturbing the London market.
especially I'm view of the willful destruction
OF c~oal-rnlninG plants by the Beers in
Natal. The campaign, In any ease, should
settle itself IN a very short time
The borrowing demand begins TO indicate
mat the short interest. which has served
TO rally the market in the last few weeks.
mas been materially reduced. The most
plausible rumor current about Sugar is
that the recent advances in the prices of
The refined product are a part of a scheme
OF settlement, based on the maintenance
OF a proftable rate of prices for a year.
Gold continues to be exported to Paris.
About N.25i,p5 will go by to-marrow's
steamer. Money continues very easy a,5
an indications at home and abroad poiDt
TO a continuance Of this state of thinvs
IT is hardly likely that the Bank of Eng
land will lower it's rate. however.
New York Stock QuOtat lions.
Ihe following shows the opening. highest. low
and closing quotations on the New York S:ock