The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1901-08-12
EASY MONEY IN LONDON.
i Was One Of ihe Reasons for tlle
Better Feeling Which Prevailed.
MANCHESTER CLOTH MARKET wASDuLL
Berlin Boerse Was Without Any Striking
Feature During the Week-Gereral
Tone Was Improved.

London, August li,--Lord Kitchcners proc
lhmaiion at Pretoria had comforting ef.
feet last week on the stock exchange.
Whetner the more hopeful spirit with
which It was received was due to sentiment
or to wcl grounded reason. the future must
determine; hut the Immediate eject was
to improve prices somewhat, Another help
full factor was decidedly easy money. Not
only in London, but In New York aud on
the continent did this condition prevail
and on the continent the principal bourse
rates were all under ~ per cent. Enough
gold Is afoat and coming in from the pro-
vinces to raise the reserve of The bank Of
England well over 2S,OOO,0UO pounds. New
York exchange was high aud Is likely to
remain SO. Naturally there is some caution
In distant circles In View Of New Iork's
probable demand for gold for the autumn
crop movements, but 1t is not believed that
TINS drain will be sufficient to raise London
rates materially.
'Lhe week Witnessed the unusual spectacle
OF an Improvement in home rails and dc.
cline In Americans. This arose on the one
mana from renewed apprehension regarding
the steel strike, while on the other the fact
that British railroad siHres had descended
TO about the lowest possible figures caused
reaction. The outlook for home traffic
IS exceedingly, gloomy. The hoil yearly
in and they show serious falling Off in the
gers confess that they see no prospect OF
the tremendously Increased working cost
materially reduces dividends Tho mana
gers ocufess that they see no prospect Of
Improvement FOR years aheadi aud there
Is a general cry for retrcuchment.
Retrenchment, however seems to mean
only cheese pairing and the cutting of wages
without any genuine reform in the anti
aGdI'V nle'r ~ ~, vnulni',"'i thn o,,,,in
Wiue nelu ZOE .smpr3tNeulen' ~ luu eVuiip-
nn,.i,,cnts ond tbiS faet urnnlHSd With tbo
present low pricd Of stocks, seems to Offer
70 az ~ fo The sgenm roado What ii Is already
doing for the tranlway lines
SO tar rs the steel strike Is concerned
r,,Srg !" WIN u'reLstuoe coub VIZ ~
mon and the employers. but conviction
that the strike Is certain to have a disas-
cgts ConseoIiontlv the outlook for business
In thp American section Of the stock OK
chanre is NOT nronijsinr
uANCutsa1,np ~ oTu
49, , -, ~ r
Manchester, England. August LINE
holiday feeling throughout most Of last
.,,..t. ~ dnoa,,;u,+ to,,1.n.s ia cottot,.
VIZ GU" w ,.,.,,,'Sa -, tt,o ,tott
Impaired an air or lhsSlthae 10 Inc cio'h
mtrket The turnover was below the aver.
age More cheerful conditions at the end
Of the week resulted In little increase df
directions. ana a moderate business was
booked FOR the leading smaller outlets al
though many proposais we're declined, ow-
ing 10 thc narrow margins
China Inquiry WIS stimulated by reports
regarding The increlsu OF the tariff aud
th6rc were some transactions where de-
livery could be promised for September A
very prominent feature Of the market was
The wide dtifereT~.e between the yarn and
cloth sections, The former was generally
dun, the business executed being Insult.
rlent 10 fnrtify the position materially aud
frequently haiug due A. the nceentance OF
10
BERLIN BoERSE,
ptt 1. r+ ot., t.