New-York tribune., 1901-02-04
GERMAN FINANCE AND TRADE.

Berlin Feb 3-The most striking features Of the
Berlin Boerse last week were the continued I'm
proyernent in fixed interest bearing securities and
the decline Industrial shares The former showed
great activity. prices advancing. The Ba-
varan A. recently subscribed at l")il reached l02
bid Yesterday -York's sales OF c, rman Treas
ury IS readily absorbed at rising prices
These. however. ceased upon the discontinuance
OF New-York offerings. though prices continued
rising and reached 1920 yesterday. The market
showed considerable interest for foreign rentes.
particularly Italians and Argentines. The demand
for foreign railroad obligations continued strong.
especially for Russians Italians and Anatolians.
Interest IN American railroad shares declined
markedly, but Swiss railroad shares continued
strong upon Swiss buying
The weakest spot in the market coal shares
which lost heavily during the week upon unfavor-
able market reports. on Friday the "Kolnsche
Zeitung' printed pessimstic statement, showing
the growing difficulty tho mines have 10 sell their
full output The statement also emphasized the
fact that the trade Is taking the smallest hand-to-
mouth quantities. expecting lower prices later.
Some grades for the Dutch market have already
been sold 3 guldens per ten tons below the
regular prices. The coal market further de
pressed in consequence Of the continuing decline
in the iron business where the prospects OF in
provement no longer exist
So far as iron is concerned. the exact opposite
Of Improvement confronts the dealers. the stua-
ton growing worse daily. The South German
Rolling Mills Association has voted not TO take
orders at the present prices beyond Is and
then TO restrict production II improvement I'm
the situation Price cutting between the
Silesian and West German prOduo continues
Yesterday the former announced another reduction
OF 10 marks Westphalian establishment has
captured "A contract tor bard iron at li9 marks as
against l3J marks. which is the associations bot
tom price. Pig iron. which hitherto has scarcely,
been affected. shows signs Of weakening and
the syndicate has given its establishments per
mission TO reduce their output The blowing out
Of the Belgian furnaces last week also made "A
bad impression here. and these various factors
combined 10 depTess iron shares
Money continues abn' finally abundant. Much
left from the monthly settlement for
which there is denl-id Trade and industry
show a phenomenally slight demand for money.
The advance Of foreign exchange caused by
the investment Of supeTfluous funds therein. New
York is buying exchange here and with
drawing balances, owing to the low interest IN
Germany. Private discount has reached per cent
and the Reichsbank is only waiting for a reduction
by the Bank of England before reducing its own
1 per cent. The market expects the reduc-
ton this week.
The German Levant Line Will add 2OOOOoO marks
TO its capital for new ships The German East
African Line has declared a dividend of per
cent as against per cent upon its increased
capital The German Australian Line has declared
a dividend Of y cent upon 9.0a0t00 marks. as
against 10 per cent upon 100000 marks, and the
company will also add 100000 marks to its capital
for vessels.