The San Francisco call. [volume] (San Francisco [Calif.]) 1895-1913, 1901-11-04
LONDON MARKET
SHOWS NO LIFE
Rise in Bank Of England
Rates Fails to I'm
prove Trade.
Berlin Boerse Remains in a
Sluggish and Depressed
Condition.

LONDON, New. S.-Conditions on the
Stock Exchange last week may be fairly
described as moribund. Money was the
dormant factor. The long predicted rise
in the Bank of England rate came just
when many had ceased to expect It, but
it had little effect in the sluggish state
of trading. Most of the professionals who
had no business to transact made the
Homecoming of the Duke and Duchess Of
Cornwall and York good excuse for pre-
tending not to do business.
Consols continued to fall with the force
Of habit Any recurrence of the recent
regrettable incidents in South Africa
would be likely to bring them to 81 or
lower. 1t is interesting to consider upon
what terms the government will be able
to place the next loan, which is surely
due before long, one ne expert has sug-
gested So for EGO, 100000, but the issue,
when it comes, will certainly be for a
much larger amount.
In the meanwhile experts are flgurlng
whether the rise in the bank rate Will
check the flow of British gold TO Paris
The general impression is that it will,
thus forcing New York to liquidate its
own Indebtedness to Paris, which is be-
lieved to be enormous by shipping Amer
lean gold Some dissent from this view
however, maintaining that Wall street is
concealing several trump cards which it
will play when the game warrants. Chief
among these Is the sui unSOlVSQ NORTH
ern Pacific puzzle. Until an authorize
tive announcement is made no one here
will be able to estimate how America s
continental borrowings compare with her
immense trade balance.
Thus speculation without the main
facts, though interesting, is useless.
BERLIN, Nov. 2.-The Boerse last
siognomy displayed during several weeks
previous. at is nearly a lifeless body
said the Vossische Zeitung, land no
longer able to respond to outside infiu-
enceS."
Business has grown so stagnant that
many first class shares could not be
quoted at the rirst make up list on some
DAYS 1t is significant that an effort is
being made to close the boerSe at 2
p. M daily, the usual hour of Saturday
closing.
News from the various industries con-
tinues unfavorable. A number Of meet
ings of stockholders of coal and iron
companies were held during the week
depression had not reached low water
mark In spite of the discouraging pros
poets, however, quotations were fairly
we'll maintained, spectators asserting
that the present quotations sufficiently
discount the situation. The only depart
ment which showed life was American
rails, Northern Pacific shares leading.
Ocean transportation shares weakened
upon the rumor of q war of rates and of
a continued decline in the spring bust
ness 1t is asserted that the harbor of
Hamburg is Iull OIL lule Vessels. w nile
the week brought no news of industrial
disaster, the unhealthy condition of the
companies is still reflected by the daily
publication in the Reichsanzeiger of the
names of directors who have resigned
from various companies.
The monthly settlement has passed
very easily, money being abundant and
cheap. The advance in the rate of the
Bank of England produced scarcely any
effect here. but the Frankfurter Zeitung
says that Germany sooner or later must
reconcile herself to higher rates.
A complete cessation of gold imports
from London has occurred.