The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1901-09-09
BAD WEEK ON BOERSE
BERLIN STOCKS STAGNANT, WITH
LITTLE PROMISE OF I'M
PROVEMENT
INDUsTRIALs WILL GO LOWER
Heavy Reductions In Iron, Wire
Nail and Coal Markets and
Renewed Stringency
of Money.

BERLIN, Sept. S.-The boerse had an
exceedingly Stagnant week, irresponsible
to every influence whether favorable or
unfavorable. The boerse was inclined to
regard the stagnaion of the past few
weeks as a state of equilibrium fore
running improvement, but the Frankfurt
ter Zeitung weekly review now says
that, On the contrary, the boerse has
grown still dulleI and the reserve more
intense and that a change for the bet
ter is by no means expected for the pres
ent; and the Vossische Zeitung expresses
the conviction that the depression has not
yet reached low water mark, and that
industrials must go lower 1t says this
view is nearly universal on the boerse,
but nevertheless claims that securities are
now in stronger hands, which are willing
to wait long before selling.
The tendency of the weeks quotations
vas slightly downward in al depart
ments, the heaviest declines being in in
Gustrials. Reports show that the iron
market is still weakening The wire nail
syndicate has made heavy reductions for
the fourth quarter and Germans are
heavily undertaking Belgian iron in Bel
GUM. The half finished goods syndicate
has reduced the price of wire stock 21b
marks per ton.
The Cologne Gazette reports the gen.
eral iron market situation duller, and
says 1t is impossible to get sufficient work
to keep busy through the winter, and
that no Improvement is expS cted before
spring.
Orders" the Cologne Gazette says,
are growing rarer, shut-downs are i'm
pending and prices are falling through
under bidding"
Slesia also reports the conditions as
growing worse. Notwithstanding the rel
atively better situation in the coal mar
ket, coal has fell more heavily this week
than iron securities through the an
nouncement that American coal has be-
gun reaching Germany again. and a fur
Their decline in ocean freights caused a.
renewed fall in coalers yesterday. while
the same cause depressed ocean trans
portation shares
Canadian Pacifcs were strong all the
week until Friday, responding to New
York, when they reached 10 but thew
P reacted yesterday to 1882 Northern Pa
enc lost 60 cents on the week. Although
the money market experienced no change
so far as the abundance of money is con-
cerned, the private rate of discount rose
TO ~ under the New York impulse The
changed New York situation also caused
rise in New York exchange OF one
pfennig on the week, closing at .2OB
Inc large balances of the United
states IN Europe" says the Vossische
Zeitung, render gold exports thther nos
sible at any moment"
1t is stated that the Reichsbank off,
Gals regard the ease of the money mar
ket as unhealthy, rejecting the unusuaIlv
stringent terms demanded by joint stock
banks making discounts. thus forcing
borrowers to get a convention at the
Relchsbank, hence the uncommonly
heavy outlay
me financial press now expect an adj
vance in the Reichsbank rate of discount
at an early day unless the next two re-
turns show decided recovery, which
is regarded as improbable.
Herr Moeller, Prussian minister of
commerce, has invited twenty bankers to
meet him Sept. 1S to discuss the boerse
law reform.