The St. Louis Republic. [volume] (St. Louis, Mo.) 1888-1919, 1901-07-15

London, July 14-There Is but little en-
enlargement to be derived from q review Of
financial conditions in London at present.
These conditions may be fairly described as
bad; and the most optimistic are forced to
admit that the era Of recovery and pros
perity. SO often predicted. must now be
postponed to very indefinite future
What had seemed q promising outlook
has grown worse from the day Of the an
nouncement Of the failure Of the Leipxiger
Bank While at first this seemed an iso-
lated event, 1t now appears to have in
volyed Germany. Belgium and even Paris In
a severe depression Germany. anxious to
strengthen her financial position. threw So
curities recklessly on an unreceptive mar
ket. Every fresh effort to realize only ac-
centuated the downward movement. Fol-
lowing this Continental depression came
the Argentine finance bill riots. Next came
the most serious and most unexpected
blow of all-the bad break in New York
just when the disbursement of big crowd
of impending dividends, estimated at $780,
100000. led London to expect the strongest
American support. Naturally the bottom
dropped out of everything here. Consols
touched the lowest point since 1875. and
home railway securities fell on 20 to 30 per
cent from last years highest figures.
In the American section there was an I'M
mediate decline. the greatest being in. Chit
cago. Milwaukee and st. Paul, which fell
or II points, and Atchison, Topeka and San
ia Fe. which fell on 16 points. Union Pa
cific shares declined IA points. and other
Americans showed proportionate losses.
1t is now rumored here that the decline
in New York was the result Of precon-
certed plan by the leaders Of the market to
shake out the weak bull interest. Foftu-
nately, the local bull account Is COMPARE
lively small. one, but the moral effect on
trading has been decidedly depressing.
The amalgamation OF the Diamond Match
Company with the firm of Bryant & May
created more apparent ill-feeling than any
previous American coup.
The money outlook for the immediate flu
ture Is quiet and easier. barring disturb
ances in New York and Berlin.
PEssIMIsM IN BERLIN.
Berlin, July 1A-Last week ended with a
new low record of quotations In most In
dustrials, many showing violent falls. Com
niete pessimisn marked the trade of the
week. The news from the industrial centers
continues unfavorable. The iron reports had
a depressing effect, and so DID the coal re-
The newspapers generally concur In the
opinion that the downward movement has
not yet been exhausted. All describe the
tone Of the market as extremely depressed
and hopeless.
Many companies in the course Of the week
made discouragins reports, and the air was
thick with unfavorable rumOrs. Yesterdays
market was particularly depressed, owing
to the dividend announcement OF the
schuckert Electrical Company Of Nurem-
berg, after the yearly balance sheet, re-
Gently issued. had shown net profits Of more
dividend had been proposed. The shares Of
the company fell 81 points on the week.
Shares Of other electrical companies also
fell OF.
Among the coal shares, Consolidation fell
g3Is points, and among iron shares SchalkeS
fell AZ points. :.
Bank stocks suffered from the heavy on
ret that. Characterized the wee& TN