The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1903-04-27
Dull Week on Boerse.

BERLIN. April 26.-Although the APP
prehension with regard to the American
financial situation has disappeared me
boerSe had dull week last Week lne
slight volume of trading resulting IN
generally lower values.
The political situation in Macedonia
and Morocco begins to be taken into
more serious consideration here, not be-
cause important international compllca-
lions are feared, but because speculative
developments in the immediate future are
rendered uncertain. Another bear fac
tor was the recurrence of the rumor that
Americans are trying to cancel their or
ders for German iron; this report. how
ever, was not confirmed. Nevertheless
in connection with the decline in Scotch
iron through the slaclxening of the Amer
lean demand, it caused a pretty heavy
selling of iron shares in Berlin, quota
lions breaking from 8 to points. This
department of the market is less able to
withstand attack than any other be
cause of the existence of large bull en-
gagementS.
Coal shares suffered last week because
the March earnings of the large COM
panies did not realize the expectations
of the market. General induStrialS We're
mostly lower.
Government bonds constituted the
strongest feature Of the market last
week; nevertheless German IS broke so
pigs upon the heavy selling of Specula-
Among foreign securities Argentines We're
the strongest upon the improving bust
ness situation. MeXicans were firmer
upon the rise in silver and SpaniardS
were frmer upon favorable crop reports
and Paris orders. Chinese developed some
interest because of the increase of Ger
man interests in China to the organiza-
ton of the German Chinese Railway
company. This company plans the ex-
penditure of 100000 600 marks in the
building of railroads.
Money rates have a higher tendency.
Short term loans reached 4 per cent yes
terday, and the private rate of discount
was 2A. The reason for this is be-
cause cash is being raised for the first
payments tomorrow on the new German
loan. Foreign exchange rates were not
uniform New York dropped rs pigs dur
ing the week, the London rate was easier
and the Vienna and Paris rates We're
higher. The Frankfurter Zeitung believes
it scarcely probable that the easy money
market of March will return soon.
The foreign trade of Germany for the
first three months of this year was as
follows:
Imports. $376.5OOO 900. an increase over
the corresponding. period of last year of
SS2 800 600; "a, exports SI $SO1,25O,Oo0. an in
=, The export of raw sugar to the United
States for the three months was only
1,721 tons, as against 22,749 tons in the
year 1902 and 42,8S2 tons in 1901
The crop report for all of Germany.
dated April Is, shows an average of
3 2-1O. the poorest for the. past ten years,
with the exception of 1901. The condi-
2 80, as against 2-1O last year. Crops
have suffered severely owing to the Sc
we're cold of the early winter and the
cold rains of March and April.
The Lokal AnZeiger says that the Ger
man government has decided upon the
imposition of retaliatory duties on Ca
which Canada is enforcing against Ger
man goods. This measure is intended to
prevent other British colonies from levy
ing discriminating duties against Ger
many.