The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1901-01-07
FOREIGN STOCK MARKET
-EERLIN REPORTS A FAVORABLE
CONDITION WITH AN ALUM
DANCE OF MONEY
: BANK OF ENGLAND's RATE
The RefehSbank's Rate of Discount
VIII Not Be Affected by Lon
don as 1t Has in
Times Past.

BERLIN. jan 6.-The fears of the
London and New York money markets
have left Berlin comparatively I'm
touched The new year opened with a
remarkable plethora of money Al
though Brussels and Paris have discon-
unued discounting. here, the mortgage
banks have resumed lending, their po-
sition having been immensely strength
ened by the meeting week aeo of the
russian Hypotheken Alztien bank and
the Peutsehe Grundchuld bank The
public is row regaining confidence in
these Institutions and the return of then.
obllgauons has almost ceased. On the
other hand the demand for mortgage
bank obligations is beginning afresh
The effect of the advance in The Bank
OF EnSland's rate was unusually Sight
Hitherto the ReichsbanK had always
answered to the Bank of England adj
vance. IN the present case however
Notwithstanding the unprecedented pres
sure after Dec. 81 the Reichsbank rate
of discount viii be maintained.
The market considers this a certainty
owing to the rapid recovery since Jan
]. The private rate. of discount fell
rapidly to 3si per cent, but rose again
TO per cent, in consequence Of the Else
In the Rank of England's rate Cali
money. however. was abundant at per
cent. The market believes the Reichs-
bank viii maintain the present official
sA'ate until the Bank of England reduces
It's rate. Otherwise the Reichsbank could
make a reduction sooner. English ex-
change rose in consequence of the rise
In the Bank of England rate
The bourse followed New York's boom
In railways unwillingly, Berlin believing
the thing to be overdue.
Among transatlantic securities Cana
dian Pacifics took the lead.
IndustrialS encountered more unfavor-
able influences, among them tee decision
OF the coke syndicate to reduce produc-
ton per cent Other depressing in
huences were the reduction in the price
of rolled goods in South Germany, the
restriction in output by the SiegerIaad
Iron syndicate. and the attempt of the
sheet mills to get reduced prices for the
materials under contract
The Cologne Gazette asserts that price
reductions Affect nearly all finished goods
and it paints the general iron situation
black The Haif-hnished Goods assoCia-
ton has fixed the terms of export, the
bcunties being reduced on plates TO Ill
marks. 'zz--i
The B@umenfeldts, a coal firm in Ham
burg, in the course of their yearly re-
port, say. that their American Shipments
gave the greatest satisfaction, but that
the high European freights prevent reg
NldI AthpVI ID tiNItS.
The lower Rhine silk velvet market
treport says that American orders remafn
scarce. and that the manufacturers re-
gard the American market as permanent
ly lost
The weavers of Westphalta and the
Rhine have resolved to reduce their
output and to advance prices.
Last years exports from the North
German coHsuIates aggregated SCI. 94S. 61T.
or an increase of Sic, Tg3, 7g6. Magdeberg.
Stettin. Hamburg, Chemhitz and Plau in
creasiag mere than 8, o00,o0 each. IS
The Frankfurter Zeitung says the price
of the Eavarian loan viii be 1e31A. the
subscription being fixed for Jan il.
In consequence of Germany,s growing
interest in American markets, number
Of the Berlin papers have arranged to
get the New York and Chica 90 quota
ton cabled for their morning editions.
instead Of the afternoon editions as here
tofore
The lFambwerke. Of sHoehst, VIII
Issue loan of 1O000,O09 marks at ~.
per cent.