The St. Louis Republic., 1901-02-26
FINANCIAL. ss'- Z -:
n. W. HARRIS & COMPANY
4 BANK ERS
CHICAGO NEW YORK eoeToH
FINANCIAL.
LONDON STOCK MARKET
GENERALLY STRONG.
AMERICANS RULED FAIRLY
FIRM.
Steel MonopoIized Attention in
New York-Grangers Were
Noticeably Strong.
REPUBLrc SPECIAL.

AEPUBLlC SPEClAL.
New York, Feb. 25.-Helped by the I'M
proving situation in South Africa and tne
SECURITY felt IN the money market the
London market was generally strong. Con-
sols were firm at g7lz and American stocks'
although not specially active. were gen.
orally Z to ~ per cent above parity. Money
wns in good demand In the open market In
London and Berlin. Paris exchange was
rather easier and there seemed to be some
falling on in the tendency Of gold from the
Continent to London Rand shares were
strcns on the expected early termination OF
:, the Boer resistance.
In the local market the steel STOCKS
nonopoIixed attention and were very strong,
with those companies known to be included
IN the new combination the most conspicu-
ous features. Tin plate advanced some 10
points bur reacted sharply on pront-taking
. ~ Insiders. 1t was generally believed that
fh1s company and National Tube would get
exoeptionally favorable terms. The fnciu-
ezon Of Steel Hoop was a surprise. and the
nerinan Bridge Company was dropped
tfher to the disappointment Of outside
: bulls On the stock There was r,Imor cur
fent Of Republic Iron and Steel extending
It's urovince to the manufacture OF steel
hoop.
s The granger stocks were noticeably frm
and there seemed to be q determined move
to put q better tone upon the market IN
( view of the success Of the steel combina-
uon. Morgan brokers were conspicuous
buyer. Of Southern Railway issues and 1t
was naturally taken that more peaceful
conditions IN Seaboard would benefit them
IN the not far distant future Tobacco
STOCKS advanced on pool buying and re-
ports OF excellent earnings Inside buying
was reported in Manhattan There was a
reaction later in the day in all depart
ments. the steel stocks suffering quite lit
ue- reliable estimate of the basis of the
prices predicted In this mornings Republic
s.ve sse the new common stock of the United
eeetes oteel company value OF Il and the
pteterred the value Of 81. In the circum-
ncsS the buying Of the common stocks
ee 20 switch over to the preferred.
me close was heavy, although not quite
~ "west' and the terms Of the steel deal
conesnot not sufhciently understood TO give
shares. The persistent realizing IN These
tsaoeQ 70 orag the rest of the market down
Tohscae SSs ssrengtn & was shown in places : The
the American Tobacco Comnanv vas tmv.
in8 up the Havana company. Money con-
in9eo easy at per cent. The volume of
fsseso1s. WIS tairiy large and rather pro-
There y some show Of plausibirty I'm the
yveG ~ GA dpMors 4Ss concerning con Burlington. and
OF more or less intimate community af
Interests. embracing B. & o. NortherT. Pa IA
!; enc. Great Northern and C. B. 8 @. There
Bere ru1nors that insiders have been sffered
very long price for their holdings Chi-
8ego and Eastern Illinois declared the regu-
~ quarterly dividend Of " per cent on
ze preferred stock There has been good
yestment buying for St. Paul recently. and
ctal advfces show that the mercha n
movement u ahead Of last year and
kely to improve all through the sprinE.
z1le the speculative account Is NOT IarEe
- has been consistently good iuyesf-
pf buying In such stocks as LouisyiIie.
- Pacific and the grangers.
g1r II little neglected and suffers from