New-York tribune., 1901-09-16
GERMAN FINANCE AND TRADE.
A WEEK OF BAD NEWS FROM BANKING
AND INDUSTRIAL CENTRES.

AND INDUSTRIAL CENTRES.
Berlin. Sept I5-The announcement of the death
of Mr.. Mckinley did not exercise any depressing
influence upon the German boerses 1t being be-
ueyed that Mr. Roosevelt would pursue the same
policy as his predecessor and also that the efforts
of New-York fnanciers to prevent crash wouid
succeed. Canadian Pacific and Northern Pacific
shares fell OFF somewhat Friday. but both partly
recovered yesterday
The Boerse however suffered Independently Of
the death of Mr. Mckinley from variety of un-
toward events. The week began with the an
nouncement that the Allgemeine kleinbahn Geseil-
schaft would lose half its capital through recent
financial troubles Later came the announcement
that the Mecklenburg- -Strelitz Hypotheken Bank
would lose half its capital owing to the difficulties
Of last spring Next came the statement that the
report of the investigating committee regarding
the affairs OF the Pomeranian Hypotheken Bank
would be much more unfavorable than had been
expected Friday brought news or eInbezzlemehts
amounting more than 4nO.0 900 marks by the man.
ager Of the Breslau United Shipping Company. in
yoving a number of Berlin and Hamburg banks In
losses This followed by news OF his suicide
Yesterday brought a upon the Hebron
Gewerbe Bank. causing suspension The same day
witnessed also q reduction by the rolled wire syn
dicate OF 10 marks a ton in the price of wire and
a reduction by the wire nail syndicate OF marks
per metric hundredweight. In addition TO the fore
going depressing circumstances. numerous annual
reports published. showing very disappointing
results Moreover the reports from industrial cen
firms at Romscheid, the great hardware centre, are
in difficulties. Some factories there have reduced
| wages 10 per cent. and many workmen have been
| discharged
The coal situation grows worse Ihe coal syridl-
| cate is carrying a sharp struggle with British
coal in Northern ports and is reducing prices there
fifteen per cent. 1t announced during the week
that the syndicate would meet soon to consider a
general reduction.
These conditions made the week one of the worst
of the summer Quotations OF industrlals
fell generally, heavily. Ocean transportation
shares continued to weaken upon declining freight
Domestic loans weakened upon the expectation
of advance In the Reichsbank rate OF discount
The papers expect advance soon. arguing that
conditions IN New-York will chiefly bring II about
The announcement that German banks Will take
the Russian railway loan of S0.0O.o0c marks has
made excellent impression on the Boerse, as
showing confidence IN the financial situation, but
it could not impart any strength to quotations ~
Is believed the loan will be heavily oversubscrbed
owing the present preference for interest bearing
securities shares.
The sale Of shares of the Hamburg American
New-York causes the ''KreuZ Zeitung' TO raise a
IS trying 20 get control Of the German lines. The
paper argues that this is quite possible adding:
THE factors that make II possible the i'm
mense financial resources of the Americans, the
cheapness of German transportation shares and
the fact that both the great lines must very soon
raise capital. which the German market is not
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