The St. Louis Republic. [volume] (St. Louis, Mo.) 1888-1919, 1903-01-23
WALL STREET is LISTLESS
AND BUSINESS IS LIMITED.
ROOM TRADERS WHIMS THE
ONLY INFLUENCE.
Bombardment of San Carlos Tends
to Disturb Stock Market With
Fears Of Complications.

New York. Jam. 22-The drift Of prices In
to-day stock market was still ~listless and
hesitating and reflected nothing more than
tho shifting whims or hopes Of the room
traders. whose operations absorbed the to-
tai dealings. Yesterdays late advance met
rather a positive check this morning in the
news from Venezuela of a renewed attack
upon the fort at San Carlos by German
war vessels. 1t is believed the least conse-
quence Of this must be to obstruct the
progress of the settlement OF the dispute
between Venezuela and the Powers. which
has been a source OF uneasiness In the Sc
curfties markets ever since it became acute.
The reports from Washington of a positive
attitude Of ~dfsapproval OF this latest step
on the part Of the American Government
offered the possibility to the imagination OF
wi part in the quarrel. 1t was evident.
however, that a more serious view OF the
situation in its effect upon American be-
curities was taken in London than here and
the declines effected there in American
stocks induced an active arbitrage selling
here at the opening.
LONDON SELLING.
The London selling was not entirely
checked. even when prices receded to be-
low the London parity. 1t was not until
after the close Of the London day Of trad
recovery. The London selling of stocks Gre
ated a demand for exchange which stinene
the prices Of bankers bills and reawakened
the gold export question. There was also
a fractional reaction In the price Of sterling
at Paris but London discounts and money
went lower and the favorable Bank of Eng
land return aroused discussion OF a prob
able decline in the bank rate at an early
DAY. The Bank of France also reflected a
gain OF about q million dollars In gold for
the week. and a large contraction of note
issues and repayment OF loans. Export de-
mand for grain meantime continues large In
spite of a rise in price of wheat and az
fords a good supply of exchange bills. The
price OF American eagles also fell a fraction
in the London market to-day.
WEAKNESS SHOWN.
some special weakness was shown by the
New York public utilities, owing to the
me dinerenee of opinion disclosed as to
the application Of the adverse judicial de-
cision Of the law as a whole. The declines
from last night ran from / to IL in the
speculative leaders during the morning
weakness The late recovery in prices was
largely connected with the authorization az
Q dividend increase on Northern Securities.
the directors Of which went into session
early in the afternoon. Active buytng and
q sharp advance in Northern Securities on
the curb and a three-point rise In Great
Northern in the board room were taken an
corroborative evidence. The three-point. adj
vance in St Louis and San Francjsco
though unexplained by news, was a sustain.
Ing influence on the market. There were
rumors that the road was to pass TO the
control of the Southern Railway. The nroo
fessed expectations on the Northern Secnri-
ties dividend ran from a yearly rate Of AZ
per cent to B Der cent or a lump extra.
dividend. The declaration OF the IL divi-
dend was not announced until after the
market closed. The closing was steady, but
Bonds were dull and Irregular. Total sa,e,.
Iar value, $2.S70,00o. United States bonds
were unchanged on call.
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