The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1899-12-25
Decline Did Net Have Nature Of a
Panic.
: CALL MONEY IS RISING
COAL TRADE DULLED By CAR
SHORTAGE.
Exports to the United States Are
Brisk, An Increase of S25O,OOO
Being Predicted By American Con-
sui neutrality-suspicious. With
Petroleum Cause Imports.

Berlin. Dec. 24-The Advance in the
Reichsbank rate TO per cent had great
effect upon the securities market. Values
declined only moderately. There was
nothing in the nature OF a panic, as Oc-
CURED in New York and London. Not
witnStandinS the fact that the advance in
London exchange continued reaching yes
terday pfennigs above the gold point,
gold exports have hitherto been but mod
crate. The Berlin joint stock banks are
ooing all in their power TO prevent ex-
ports
The correspondent of the Associated
Press was informed today by persons in
the highest banking circles that the con-
unued rise in London exchange is due 10
the ract that New York has sent large
amounts OF three months money bills
here for discount. taking in return Lon
don exchange. further cause assigned
Is the heavy purchases Of American rail-
way securities oy Germany, payment for
which Is now due in London These
shares are chiefly Canadian and Northern
Pacific.
Private Discount Declines.
Private discount is declining. Call mon-
ey IS rising The outlook for business
seems excellent excepting that of dear
money. 1t is Impossible 20 raise money
on mortgages. owing to the decline in
house building. which is expected event.
ually to react upon the iron trade
Western Germanys car shortage,
amounting to 5000 cars daily. is obstruct-
ing the coal trade. Nevertheless. the
bourse takes an optimistic view of coal
prospects. As a result of this coal shares
are firm.
Exports to The United States are brisk
United States Consul General Mason pre-
diets an increase of $4,000 at the Berlin
consulate for this quarter. ChemnitZ man
ufacturers report heavy American orders
and bright prospects for yarns at rising
prices.
Experiments with Russian petroleum
aatr cfnc si,,-r INN Of hot
tic.e. Sixty-nine Thousand tons were i'm
ported during the first nine months OF the
current year. as against $1,000 for the cor
responding period last year.
company will introduce crude petroleum
from Bcrneo as fuel for its East Asian
steamers.
Deal In Steamships.
The North German Lloyd Steamship
company has bought out the Scottish
Oriental Steamship cornpany's steamers.
fourteen in number, and will continue the
service to Honskong and Singapore with
Increased sailings. This is the second in
stance OF the purchase OF British by a
German line within a few months.
Today Berlin has had ideal winter
weather. with slight snowfall toward
dusk.
This afternoon Emperor William left
New Palace following his custom for
several years. his pockets filed with gold
and silver. and stroiled through the parks
1t Potsdam and the poorer quarters, dis
-ributing Christmas gifts TO the needy.
This evening gifts were distributed
lmong the employees in the royal factor
es. those of the higher rank receiving 100
marks each
Next Saturday the ceremony of mailing
lew colOrS from a number of regiments
Will be performed in Berlin in the emper-i
'rS presence.
1t IS asserted in we'll informed circles
hat the Russian government will soon
.reate a new ministry of commerce and
Industry, which is significant as bearing
lpon the phenomenal rise Of Russian in
lustry-
On New Years day direct telephone
.r-T,r7rr'i"" ill be opened between
Berlin and Paris. a.sA