The St. Louis Republic. [volume] (St. Louis, Mo.) 1888-1919, 1901-03-13
LONDON STOCK MARKET
RULED IRREGULAR.
AMERICANS WERE SLIGHTLY
HIGHER.
Prices Were Well Maintained in
\ New York Despite Proft-Taking
Tobacco and Sugar Strong.
REPUBLIC REC1Ah

6EPUBIIC HREClAh
New York, March 1.-THE London mar
ket was irregular within narrow limits. but
the trading In all departments was light and
there were no significant changes on the
day. American stocks advanced moderate
" with New York prices and closed firm.
Consols were rather heavy at 9sas. There
was no feature In money or exchange in any
Of the European centers. The Chinese
news was somewhat disquieting, but the po-
siton In South Africa seemed to be tnprov-
ING.
In the local marke. the opening was firm,
and In spite of a good deal of scattering
profit taking prices were we'll maintained.
There was notably good buying of Pennsyl-
vania in spite OF q heavy tone In the coal
stocks due to the uncertainties Of the labor
situation. Missouri Pacific advanced on
the annual report and there were confident
predictions of a dividend at the rate of .
Der cent Some importance was attached
to the rumors Of the road having secured
control Of Denver and Rio Grande and Rio
Grande Western.
Tobacco stocks showed considerable
strength and insiders claimed that the
whole Of the reduction In the internal reve-
nue. duty would go into the pockets Of the
stockholders.
Sugar was hard in spite of considerable
sansu:ne Of q settlement Of the outside COM
petition. The Steel stocks were dull and
rather neglected and some disappointment
wa expressed that the Steel and Wire
stockholders were not to get the dividend
declared on the common stock There was
very fair buying in the fractions.
The close was frm In all departments al
though not quite at the best Of the day.
The rise In American Tobacco was well
maintained and the other Industrial stocks
showed q rather better tone There was
good buying OF the grangers at the close.
II advance In Chesapeake and Ohio seem
ed to be purely on speculative pool buying
and the earnings as the reports of a lease
by Pennsylvania were authoritatively de-
MED. Money was easy all day at IN per
cent. There was quite a little demand for
stock in the loan crowd. The volume CT
trading was fairly large but somewhat pro-
The Missouri Pacific annual report shows
6h per cent earned. In these circumstances
the room seems justified in expecting a lib
eral dividend declaration and 5 per cent
especially. In view of the inside char
acter Of the recent buying. London has been
q very trtfiing trader and commission house
business is limited, but the tone of the mar
ket was generally good and the big interests
seem to be still heavily committed to the
bull side. Although some of the buying
seemed. to have come from a pool, the adj
vance In Louisville seemed to be justified.
BY. the purchase Of Denver and Rio Grande
and Rio Grande Western by Missouri Pa
ctnc, tho only alternative Pacific connection
for q number of railroads not directly allied
with Missouri Pacific would be formed. Bur-
lington and Rock Island are the principal of
these. The terms existing between Union
Pacific and Missouri Pacific are extremely
friendly. and the arrangement is one which i
would make peace throughout the West.
An Important meeting Of the various an
thracite interests on the labor side is in
session at Hazelton. President Mitchell. the
leader Of the miners. is generally believed to
be opposed to any strike and would accept
tho terms offered by the operators.