The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1901-10-14
BAD WEEK ON BOERSE
COMPLETE DEsPONDENCY AND DE-
PRECISION PREVAILS IN BIER
LIN FINANCIAL CIRCLES
NO IMPROVEMENT IS SEEN
Reports of Iron Companies Express
Gloomy Views and Declare That
Crisis Has Not Been
Reached.

BERLIN, Oct 1S.-"After the brief re-
v1val which marked the week previous -
begins the Frankfurter Zeitung'S boerse
representative, there followed last week
complete depression and dependency
worse than had been thought possible
The optimistic hopes which many had
begun to cherish again proved deceptive
Neither in industry nor anywhere else
was the slightest trace of permanent i'm
proSement perceptible. On the contrary,
such strikingly bad news came that
there is absolutely no cause for wonder
that universal desponency is increasing. -
The bad news referred to was the re-
duction of dividends or the passing Of
the same by many first-class companies
IN the iron trade. Such instances are
multiplying. Moreover, the annual re-
ports of the iron companies express
gloomy views as to the situation, declar-
ing that the crisis has not yet been
reached. The strongest point of declining
consumption is supplied by each days
events. The home market places but very
few orders, and the companies are there
fore compelled to work on foreign orders
at Improbable prices. The Rotne and
Erde iron works passed the dividend as
compared with a declaration of IL per
cent last year. The Huldeschinsky iron
works declared a dividend of per cent
and Gustahl iron works declared 1914
per cent, as against l6 2-3 per cent last
year The latter reports orders on hand
for 1900 tons, as compared with orders
for $4,000 tons at the same time in 1860
Iron shares fell heavily upon these an
nouncementS, and there was considerab bic
short selling.
Coal shares were weak on the arrival
of American coal at Hamburg and the
TlTnC Ant of II 4
shares. 1t is believed that the forthcom-
ing arrival of American anthracite coal
at Stettin, partly for Berlin wiz prove
the forerunner of good business. A large
Berlin dealer went to New Yori: few
days ago, intending to order from 100000
to 100000 tons of anthracite c3al
Transatlantic securities were generally
neglected, with the exception or Cana
dians and Nor.hern Pacifics. The tenden-
cy for the first half of the week was
downward, upon heavy realizat;ons, es-
pecially in Canadians But strong re-
action in both ella sses of shares. occurred
Friday, and this was maintained yester-
day, Canadians closing at 109S7 and
Northern Pacifics at 9S
Domestic loans were weak upon runors
o. new imperial loans and a private sale
OF SS5,0 600 of-3 per cents already sane
toned.
~Germap loans may be expected next
spring
The Russian railway loan issued Thurs
day was great success, and is already
quoted well above the Issue price. Other
Russian securities were sold in exchange
for it.
The meeting of creditors of the Meek
lenburg-Strelitz Mortgage bank resulted
in decision which is equivalent to grad
ual liquidation by the holders of the OBJ
legations
The production of raw sugar during
September was GIBBS tons, as compared
with 3S,1S3 in September, 1900, and that of
refined sugar was 4S,537 TONS as com
pared with $500 in September of last
year. The Central Blatt Fuer die Fucker
Industrie estimates Europe's production
as follows:
Germany, 2,125, o,coo tons; Austria,
1,225, 100000 tons; France /, 1870, 900 600 tons:
Russia 100000 coo; Belgium, $50. 600, 0c0
tons; Holland, 200 ,O01,O00 tons, and other
countries 450,O0o,O0O ton; total, e,54O. 900 600
tons, as against $3.50 0OO GOO tons last year.
The improvement in the sugar market
continues
Dusseldorf will issue loan of 0,OOo, 600
marks.