The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1903-03-16
New York and London
Markets Affected German
Money Rates-Business on
Manchester Cloth Market
Was Hard to Negotiate
London Opened With an
Uncomfortable Feeling.

BERLIN, March 15.-AU the yeaL,Iv
financial reviews point out the fntenss
interest of the boerse here last week
IN the financial situation in New York
The opinion apparently predominates
that conditions on Wall street have be-
come more favorable; at least German
apprehensions were less pronounced.
New York did not appear as a borrow
er in Berlin last week, but the New
York and London markets continue to
effect the German money rates. priyate
discount rising 3-S on the week. Never
theless there was scarcely any change
IN the abundance of money. The rates
or foreign exchange varied but slight
W the exchange on most European
centers being fractionally lower, and
on New York trifie higher than a
week ago.
The stock market continued rather
firm, with a light volume of transact
lions. Wall street did not seriously
affect the trading. except in causing
considerable selling. Canadians and
domestic threes developed a good de-
mand. Other denominations were ne
elected. Foreign rentes attracted less
attention. Industrials manifested con-
siderable activity, the tendency of the
u.
Irons and coalers were particularly
strong upon the favorable market re-
ports. The Koelnische Zeitung states
that the American demand for iron
has developed surprisingly during ths
past fortnight. A considerable number
of American contracts were taken dur
ing the last few days for the Septem-
Der quarter. The coal trade shows an
tn1nTOVinQr
gun to buy coal shares here.
Ocean transportation developed great
strength upon the publication of the
Hamburg American companys report,
stating that the freight market had
passed its worst point The report Of
the North German Lloyd, published
this morning, shows net profits of So
821,28O, after deducting payments of
interest. The company will write off
S3,152,50O, against $2,957 $50 last year,
and will carry the remainder to the
reserves and special funds. The re-
port states that business has improved
since the new year.
London Uncomfortable.
LONDON, March Is. - The stock
market opened with an uncomfortable
feeling last week and prices contin-
terday, when there were some evil
denceS Of strengthening. Wall street
held the center Of the stage and re-
ports regarding the fin nciaI situation
there caused apprehension and a rush
to realize, but the later reassuring re-
ports brought a return of confidence
and prices recovered slightly, although
almost all the American list showed a
decline. This furry affected the whole
market and attested to the extent OF
Wall streets influence on the stock
market here.
One Of the features of the week was
the fact that cOnSOls receded to a low
er point than they had reached since
1870. This fall was due mainly to the
continued tightness of money and the
approaching reduction in their inter-
est. There was not much doing in
other directions, investors playing a
waiting game. MeXicans and Central
and South Americans showed q decid-
ed Improvement, and South Africans
were also regarded more favorably.
Copper shares aroused a shOrt-liVed
interest because Of the advance in the
price Of the metal, but the later de-
cline in the price sent tintos back
| sharply.
Inquiry Becoming More Active.
MANCHESTER, March Is. - Bust
ness on the cloth market last week
was exceedingly hard to negotiate.
The violent fluctuations on the Liver
pool market were detrimental to any
operations of magnitude. Later in the
week, however, the inquiry became
somewhat more active. Offers from
India for shirtings proved generally
! impracticable, though there were oc-
casional transactions for China. The
trade in all departments was Of hand
to-mouth character. The inquiry for
yarns was limited, operations being
confined chiefly to those qualities re-
quired for immediate USE