The Birmingham age-herald., 1903-03-09
MARKET REVIEW
 FOR LAST WEEK Stocks Were FeatureIeSS Except
 for Grand Trunks, CLOTH WAS UNSETTLED Absence of Confidence Prevailed. Events in Wall Street Received Un. usual Attention and Great Re
 serve Was Shown.
CLOTH WAS UNSETTLED

London, March s.-The stock market last week was absolutely featureless ex- cept for Grand Trunk, the January re- port of which caused a quick realization 1 by the bulls, who had beer booming them for some weeks. This furry affected the general trading which continued dull. l though there was still some evidence that the general public was coming Into the market. Consols which rallied last Mon day on the dividend declared dropped when the advance induced holders to sell and continued depressing during the re- meinder of the week.
 American were dull the list generally showing the closing prices to be below those of the previous week. This, more over, was true of all the departments with few exceptions. The scarcity of money. the extreme captlousness dis played by outsiders and the depression on Wall street were tributary causes of the unfavorable conditions prevailing here.
 The Cloth Market. Manchester, March S-The cloth mar ket was in an unsettled condition last week owing to the fluctuations in cotton and an absence of confidence prevailed. Manufacturers find it impossible to com- init themselves for even a few hours
 There were a fair number Of ffers for certain descriptions of cloth, but they were mostly impracticable. Some trans actions in China staples were made where makers did not hold out for extreme rates. The India trade was mt LTis'k and was chiefly confined to the lower grades of the lighter fabrics The valu,s were much too high to permit of any freedom in the operations. There was a minor eastern demand for misc ellaneous goods, but the purchases were limited Business in yarns was difficult to ar range.
 The buyers operated very moderat aly and the spinners showed no aGSiety tc sell.
 In the Boerse.
 Berlin, March S.-The events in Wall street received unusual attention on the boerse here last week, and caused spec ulators to show great reserve which was increased by the rising money rates. The domestic and government bonds lost frac- tionally and most foreign rents were weaker.
 Canadian Pacific was sold heavily ow-
  weeks drop being 5.37. The influence of Wall street operators, however, was felt here chiefly as a borrower of money for which they were offering per cent and above.
 Much was taken for New York yes- terday, but several of the largest Berlin houses having New York connections showed manifest disincllnation to place money there now, believing that the ex- isting rates of exchange would not con tinue. and that they might incur loss upon the withdrawal of the loans. A fur ther reason for not lending to Wall street was that Germany has lent immense sums to London and Paris, which must later re- verse the present high rates of exchange when the loans are repaid These con alterations and the American demand raised the private rate of discount %.
 The industrial market showed an ir- regular tendency last week. Coal shares were higher, while irons were lower, al- though the iron market reports remain favorable.