The St. Louis Republic. [volume] (St. Louis, Mo.) 1888-1919, 1901-01-11
LONDON STOCK MARKET
CLOSED MUCH LOWER.
EXCHANGE HARDER IN
PARIS AND BERLIN.
Break in st. Paul Caused a Change
Over Whole List in New
York Market.
REPUBLIC SPECIAL

hrFObLiC SPEClAI
New York. jan. 1o.-Ths London stock
market was heavy to-day and closed sub
stantially lower. In spite Of supporting or
.ders in the American stocks from New
York, there was very persistent realizing for
local interests and Berlin was also a consid-
cradle seller.
Exchange tended harder in Paris and Ber-
lin and the Bank OF England return showed
that the high bank rate had been affected
in drawing gold from the Continent.
In the local market a break in St. Paul
caused a change over the whole list. The
4 selling I'm this and In Northern Pacific was
not considered good" but the market was
evidently honeycombed with stop orders.
The tobacco stocks were active and higher
on buying. said TO be based on snticipa-
ton OF further large deals calculated to
give effective control OF the cigar market.
Tennessee Coal and Iron advanced on buy
ang. said TO be for insiders. and showed some
sign Of having been recently oversold
There was noticeable strength in the
Gould properties, particularly the South
western roads. Louisville and Nashville
showed some strength on the anticipated
advance in the dividend. Delaware and
Hudson was also firm. and It was expected
that the dividend would be advanced at the
meeting this week.
Sugar showed some strength and trade in
terests were apparently bullish on II. The
Close was rather heavy and ii looked as II
The large interests Of the street were not IN
willing that some Of the rather unwieldy
bull account should be sacrificed. A rumor
was current that the Western Union had
acquired the Postal Telegraph Company,
but II was not credited in well Informed
circles.
The absence of a prominent bull operator
understood to be a victim of grip, was be-
lieved to have had a good deal TO do with
the weakness Of to-day's market.
Ihsre seems TO be no fresh news on the
Shlnese difficulty. but London thinks il
likely that some success may be achieved
IN the peace negotiations now pending in
south Africa. With this question disposed
soI the London market would OCCUPY a very
Knerent position and We should hear very
I'VE NOR OF the periodic money crises.
from the tendency OF demand sterling II is
OBVIOUS that some gold will 20 TO London
IN the near future. Bankers however are
u opinion that the market can easily lose
%SIsat zeal OF gold without the money po-
sluon being seriously affected.
Inc Carnegie competition il the mos, i'm
pySlant FACTOR at present affecting the steel
sI.uauon ana rather offsets the markets
sangulhe expectations on the Federal Steel
% orrn 30 Tar National Tube is the only
trOupdny aHected, but should the Carnegie
rohcy include wire. the market would feel
'.r eject very appreciably.
me political element is credibIy reported
ana oe very oullish on the traction stocks
1mH lnere is reason to believe that a law in
s1nsutution. called the Ford franchisa tax |
I'll De passed and should make an import
iirnt eiHerence to such companies as Brook |
gu irahslt; Metropolitan, Manhattan and
We ated Sas. The volume of trading
mos, Sonsioerably smaller. Call money ruled
A"Oeuy al SL2 per cent.