The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1902-06-16
AREWATCHING AMERICA
Labor Conditions in the United
States Have Marked Effect
on European BouFSeS.

Berlin, June 15.-The bourse is still
under the influence Of the disappoint-
ment of the failure of the Kaffir mar
ket to rise. and this disappointment
mas caused the market 10 lapse into it's
previous stagnation. All departments
We're inactive last week and there were
Few transactions. The opera tons in
Kaffirs of Germans On the London mar
ket are also perceptibly shrinking, but
1t is believed that these operations have
exceeded the entire turnover on the
Berlin bourse. The present tendency of
German holders of KafIirs is 90 sell,
although a gradual advance in price is
expected later.
German banks are supporting the eff
forts Of the great Kaffir houses in Lon
don to weed out the weaker element in
order to prevent wild and reckless
speculation. Financial critics accept
the mining tax in South Africa as the
best thing which could be expected,
and believe it could be fully cOmpen-
stated for by the savings in freights on
dynamite and in wages.
Domestic loans were somewhat weak
er last week, German holders thereof
selling, while Paris and Brussels
bought, though in lesser amounts than
were offered.
Among the foreign rentes. Italians
were strong upon the fall in the pre-
MUM on gold Spanish rentes vacil-
lated, while Chinese and Argentines
were firm, but quiet
Canadian Pacific suffered from profit
taking. partly on New York account.
The situation IN the United States has
remained I'm the forefront of interest;
the uncertainty in America, however,
has paralyzed the speculative move
ment here The coal strike gives Ger
man b0urses increasing concern and II
is feared it might affect the general
situation in the United States and the
purchases from America Of iron IN
Germany. These have latteTiy declined,
but it is now expected that they Will
increase as a result of the rise in the
price of American pig iron. The shares
of German coal and iron companies
were slightly higher during the past
week.
The negotiations carried on by the
Prussian railroads for rails and steel
cross ties for the current year have
/ resulted in the making of contracts for
rails at 116 marks per ton and for cross
| ties at 100 marks, each two marks be-
| low the prices which were obtained on
! the other contract.
coal situation would reduce the restric-
I ton on the output, but Notwithstanding
/ expectations, the restriction remains at
( "A per cent Nevertheless, the decision
\ of the syndicate not to restrict has NOT
] affected quotations.
/ Other industrial shares were quite
neglected last week and the quotations
! on shares of the Hamburg American
and North German Lloyd lines were
| slightly lower.
] The general business situation shows
an improvement. which has been
checked. however. by the labor mar
/ ket returns for the month of May
/ These indicate an increase in the num-
Der of unemployed persons, especially
\ men.
] The Rhenish South German cotton
/ industry is reported TO be working on
/ fun schedule, but at unsatisfactory
| prices.
The sugar market has improved mod
erately upon the abolition of sugar
bounties and the reduction of the ex-
else tax.