The San Francisco call., 1901-11-25
BERLIN BOERSE
SHOWS STRENGTH
Considerable Activity Is
Shown in Iron and
Bank Shares.
Business in the London Stock
Exchange Remains Al
most Lifeless.

BERLIN Nov. A-The improvement on
the Boerse continues, all the departments
showing gains for the past week. The
fact is again in evidence that many short
engagements existed. causing a strong
movement to cover, as result OF Wnlch
valuations rose. Last weeks uad1ng
strengthens the impression that the mar
ket is gradually regaining confidence In
financial circles great Importance was at
tached to the statement of President
Koch of the Imperial Bank of Germany
to the effect that there was reason to be-
lieye the worst was now over. The recent
financial crisis has been worse in Saxony.
and there especially strong 1eenng Oh
confidence prevails.
Another factor favorable to the week 5
improvement was the reduction III the
price of coke, amounting to z marks a
ton for furnaces and to 41s MARKS d3,an a ton in
coke created a considerable demand Ior
iron shares, which were the strongest 1ea-
ture of the weeks trading. Iron snareS
rose more than 10 points during the week,
and after a long period of neglect mach1n-
cry securities also rose
1t is significant that the Lorraine and
LuXberg furnaces suffered reduction In
the price of coke with a further restric-
ton Of their output so per cent
Bank stocks were the second strongest
/ feature during the week and were AMI
mated on the prospect of improving busi-
ness on the Boerse. This caused much
short covering
Another feature was the resumption of
purchases in the iron and coal shares Tor
foreign account and the prospect OF
American coal being imported into Ger
many were discussed from various points
of view. A wholesale coal dealer, Herr
Schulz, who has just returned from the ne
United States, where he ordered 100000
tons of anthracite coal, says that no dan
ger threatens Germany from American
coal. The Frankfurter Zeitung does not
agree with Herr Schulz and says that
Germany must sooner or later expect a
strong competition-from American coal as
well as from American iron products. This
paper advises the coal and iron men of
Germany to get together in time to meet
! this expected competition.
| The general introduction of the Govern
ments report, explaining the new tariff
| bill, has appeared. 1t is aSSailed by the
| Liberal press with arguments pronounc-
| ing 1t weak and contradictory. The Ber-
! liner Tageblatt says this introduction
| shows the lack of business reasons fol
| the increase of duties introduced by the
bill and that the Government has been
merely moved in this action by it's desire
to please the Agrarians.
! LONDON, Nov. A-Business on the
Stock Exchange has been, so nearly dead
during the last week that the develop
| mentS are hardly worth recording. Money
has been alternately scarce and plentiful
owing to the fitful Government disburse-
ments and to large payments on account
of various colonial loans. The Bank OF
| England has managed to impOund most
of the available gold. The open market
| rate of discount closed firmer, but still
below the bank rate. American securities
alone displayed a suggestion of activity
on the Exchange
A general feeling of apprehension fol
the future prevented real business anC
] quotations are largely nominal. Home
rails declined q shade in spite of the i'm
proved traffic reports. Mines were stag
| Qant.