The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1899-12-25
MONEY RATES Still high.
GERMAN BANKS TRYING TO PRE-
VENT EXPORTS OF GOLD.
Business Outlook IL Excellent ana
Hampered Only ~ the Fact %
Dear Money Germans Have
Bought British Line of Steamers.

BERLIN, Dec. M.-Ths advance in the
reichsbank rate to z per cent. had great
effect on the securities market. Values
declined only moderately. There was moth
ing In the nature Of a panic as occurred
In New York and London. Notwithstand-
ing the fact that the advance in London
exchange continued, reaching yesterday I
pfennings above the gold point. gold ex-
ports have hitherto been but moderate
The Berlin Joint stock banks are doing all
in their power to prevent exports.
The correspondent OF the Associated
Press was informed today, by persons In
the highest banking circles that the con-
tinued rise In London exchange ID due to
the fact that New York has sent large
ameynts Of three months money billie
here for discount, taking, in return. Lon
don exchange. A further cause assigned
Is the heavy purchases Of American rail-
way securities by Germany. payment for
which 10 now due in London. These shares
are chiefly Canadian and Northern Pa
cifc
Private discount ID declining. Call
money is rising. The outlook for business
seems excellent, excepting that Of dear
money. 1t Ii impossible to raise money on
mortgages. owing to the decline in house
building. which is expected eventually to
react upon the iron trade
Western Germany's car shortage,
the coai trade. Nevertheless, the bourse
takes an optimistic view OF coal prospects
As q result OF this, coal shares are firm
Exports to the United States are brisk
United States Consul General Mason pre-
diets an increase Of 100000 at the Berlin
consulate for this quarter. Chemnitz
manufacturers report heavy American or
ders and bright prospects for yarns at
rising prices.
Experiments with Russian petroleum
are causing increasing imports OF that
article. Sixty-nine thousand tons were
imported during the first nine months Of
the current year, as against 1000 for the
corresponding period last year
The Hamburg American Steamship
Company has bought out the Scottish ORR
entail Steamship Company's steamers, four
teen in number. and will continue the SER
vice to Hongkong and Singapore with In
creased saiings, This Is the second in
stance of the purchase Of a British by a
German line within few months.
Today Berlin has had ideal winter
weather with a slight snow fall toward
dusk. 9e
This afternoon Emperor William left
New Palace, following his custom for
several years, his pockets filled With gold
and silver, and strolled through the park
at Potsdam and the poorer quarters dis
tributing Christmas gifts to the needy.
This evening gifts were distributed among
the employees In the royal factories, those
of the higher rank receiving 100 marks
each.
Next Saturday the ceremony of mailing
new colors for a number Of regiments will
be performed in Berlin in the emperors
presence.
1t is asserted In well-informed circles
that the Russian government will soon
create new ministry Of commerce and
industry, which is significant ~ bearing
upon the phenomenal rise of Russian in
dustry.
On New Years day direct telephone
communication win be opened between
Berlin and Paris