Omaha daily bee., 1902-11-03
Foreign

LONDON, Nov. 1.-THE plentifulness Of
money which characterized the October
ditions compelling heavy borrowing from
the bank at 4 per cent in order to meet
Stock exchange settlements and month
end obligations. An increase In govern
ment disbursements is anticipated this
week; this will enable borrowers to liqui-
date some of their Indebtedness. The bank,
meanwhile, has regained control of the
money market and the hardening of Lon
don discount rates has not affected conti-
mental exchange. That there will be any
considerable shipments of gold from New
York in connection with the purchases Of
the Shipping combine, or b tGr other ib m reesons,
the mercantile balances favor the United
States, and 1t Is considered likely that
these will provide sufficient exchange for
Tn siuggishness of the Stock exchange
was relieved for a couple of days by spurts
British railway shares. The dealings were
mostly professional. The more cheerful
tone prevailing did not induce the public
BERLIN, Nov. 2.-The Bourse began the
week under the influence of the gloomy re-
marks of Herr Barre, director of the Bo-
chum Gusstahl mpa who at the an
nual meeting OF the company, held Oc-
tober %, said the German IRON INDUSTRY
existence and that there existed danger of
the dissolution of the steel. rail syndicate,
war between everybody in the business.
These ~utterances Of Herr Barre depressed
all Industrial shares this week ana partlc-
ularly irons. This decline, however. was
partly checked Wednesday by remarks of
a Silesian magnate, who was more cheer
full regarding iron prospects. The annual
meeting of the great Dortmund Iron COM
pany, however, brought out discouraging
facts and representatives OF other iron
companies also expressed dismal views OF
the situation. Yesterday brought strong
recovery on strong prospects OF the re-
newal of the pig iron and steel rail SYM
dicates In the Rhine country. shares OF
uniform tendency during the week. Those
of the S%chuckert Electrical company of
Nuremberg dropped to 90 on Friday but
nouncement that the company had secured
a contract to build a suspension electrical
railway in England. The weeks drop of
higher. Quotations upon the Alderman
Electrical company of Merlin rose on the
This Company paid Z dividend of Il per
cent last year. The newspapers. however.
point out that this years dividend would
fact that the c%ompany's tax has been re-
funded. Indications are that the retail
industry is in a bad way with no prospect
of Improvement. All negotiations for an
electrical trust have apparently failed. A
number Of American electricians are re-
signing their positions IN German COM
panies and returning TO the United States.
The money market showed a greater de-
mand for the monthly settlement than was
expected. Considerable demand still ex-
listed yesterday, call money reaching Az
per cent. but later relapsed to 4 per cent,
German 3s and Prussian consols were
slightly lower during the week and there
of the North German Lloyd and Hamburg
American steamship companies continue "a
be weak; hoyering just above par.
Bank of Spain for the week ended yester.
day shows the following: Gold i'm hand
increase Sa = So pesetss: sIEer IN hana, IN
ton. decreased 2.7OS, 900 pesetas.