The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1900-01-08
BERLIN MONEY MARKET
VERY WEAK ON ACCOUNT OF SOUTH
AFRICAN SITUATION.
Russian Army Movements Have nm
spectators story Denied.

BERLIN. Jan. THE money market
grew steady and easier throughout all of
last week. private discount reaching 61s
yesterday. The ease of the market Is ex-
planned by the annual dividend payments,
which holders hesitate to reinvest i'm Sc
curities owing to the uncertainties of the
situation. The Deutsche Oekonomist, how
ever, regards the falling Of discount as
an artificial maneuver, designed to
strengthen confidence. AS confirming this
view. it points out that the great Ger
man banks, which usually lend call money
at this date, are now seeking the same
end at from to per cent. The recovery
movement of the Reichsbank last week
was normal, while. owing to the high rates
for new discounts, loans were only mod
crate. "A reduction of rate is expected at
the bank during the latter half of this
month If nothing political intervenes. The
gold export to England has ceased, al
though exchange remains above the gold
point. Export to Holland, however, con-
tinues in small amounts. 1t is rumored
that considerable Russian money has been
placed here. The borse throughout the
week was irregular and nervous. 1t started
bullish. but weakened upon the report of
the seizure of the BundeZrath and intelli-
gence regarding the movements of Russian
troops. The bears took advantage of both
incidents to beat down values. The de-
clines, however, were not heavy, and the
general tendency remains rather firm.
Americans sold freely. but the undertone
or the market as affecting them remains
decidedly strong.
The financial press points out that Berlin
stood the recent Situation better than
LONDON and New York. Although much
German money was lost at the London
settlement, this did not cause failures or
embarrassments here.
The heavy advance in gold mine taxes in
the Transvaal causes very unfavorable
comment In the financial press. Even the
pro-Boer organs say the action is confis-
catory. IL is reported that the German
and French consuls in Pretoria have al
ready protested on behalf of their respec-
tive governments.
A stakeholder of the North German, IJovd
steamship Company wrote to the Frank
tort Gazette last week that the company
would require Sc,000,0OO marks of new can't
lai 10 pay for the ships recently ordered.
The letter attracted much attention on the
borse and caused a fall in the shares
The Increase OF steerage passage to New
York by the Hamburg-American line has
been followed by the North German Lloyd
line, the future rate being 100 marks by
express steamers and 80 by mail steamers
The statistics of ocean shipping at Ham,
burg for 1899 show 1882 arrivals, an in
crease or IS9 over the previous year: and
IL. $50 clearances. an increase of S04 over 1895
A section of the Berlin electric elevated
railway now in process of construction
will be exhibited at the Paris exposition.
The report of a concession to American
electricians for a road at Chemnitz has
not been confirmed
With reference to the reported omission
OF war exhibits at the Paris exposition. i'm
Difference TO the request of the Car. the
statement is now published that it has been
already decided TO place all such exhibits
upon an exclusively private footing.