The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1903-02-02
UPWARD MOvEME NT
ON BERLIN STOCK
EXCHANGE
Almost All the Departments
Score Rises During the
|Week-Business in Lon
don Confined to PROBES
siOnal Dealings - Strong
Tone OH Stock Market.

BERLIN, Feb. 1.-The upward move
ment on the stock exchange gained in
strength and volume during the past
week. almost all the departments scor-
ing rises. The public has evidently
begun buying again, in some depart
ments. The principal causes for the
rising tendency are the abundance of
money the large government loan OPP
erations TO be carried through in the
near future. and in lesser degree, the
improved tone of the iron market,
which last week made further prog
reSs
The announcement of the transform
alton of the Krupp works into joint
stock company scarcely affected the
market, since all the shares will re-
main in the possession of Bertha
Krupp. The shares will not be listed on
the boerse and it is even expected
that the transformation will be carried
through without the Instrumentation of
any bank. Nevertheless, DreSdner
bank stock rose upon the banks per-
sOnal relations with the Krupp firm
other bank stocks rose strongly on
prospects of large earnings through
the forthcoming loans, and Disconto
Gesellschaft advanced through pros
poets of a settlement of the Venezuela
an claims, in which the bank is heavily
interested.
The domestic government securities
recorded an advance and all foreign
rentes were very strong, especially
AuStrO- HungarianS, ArgentineS, Chi
neSe, Portuguese and ROumanlanS.
Mexican silver threes were heavily
bought on the Frankfort stock ex-
change because of President Roose-
velt's message regarding the proposed
silver conference. Foreign railways
We're mostly higher, especially Austri-
ID
pOrtatiOn securities further advanced
Hamburg American reaching 103.75
and North German Lloyd $40. Ham
burg capitalists bought actively OF
Hamburg American securities.
Coal and iron shares were moderate
iy higher and most of the other indus
trials were strong, especially electric
ais.
The uncommon abundance of money
continues to affect the foreign ex-
change. Small amounts of gold were
sent to Austria and England, which
renders it probable that the Reichs-
banks rate will remain at per cent
for a week or two longer.
Private advices from Hamburg state
that the complaints made regarding
the classification of American grain
referred to the early shipments of corn
particularly from Baltimore, which
were not sufficiently dried for trans
portatiOn and arrived in a damaged
condition. The complaints have now
wholly ceased.
Public Lacks Confidence.
LONDON, Feb. business on the
stock exchange last week was con-
fined to professional dealings, the pub
lie continuing to show a lack of con-
Hdence. Americans were listless, though
continuing to display firmness. A
squirt in Canadians relieved the mo-
notOny Crank Trunks and Canadian
Pacifics advancing sharply.
The proposed conference of the Unit
ed States, Mexico and China regard
ing the silver question had a good eff
feet on the price of that metal an6
also on the market for Mexican rail
ways. Some evidence was shown g
returning confidence in South Afri-
can mines, as a promise is held ou
of solution of the labor difficulties il
South Africa.
There was a lively demand fol
money as a consequence of the col
lection of taxes and the borrowings a
the bank amounted to about 100000.
600.
Cloth Market Strong.
MANCHESTER, Feb. IA strons
tone was displayed on the cloth mar.
ket throughout last week, although tn,
closing was somewhat quieter. A Sd
amount of business was transacted
despite the fact that the continued
advance in the price of cotton imped
ed negotiations, foreign buyers not re
spending readily to the terms offered
The general expectation points to
period of comparative inactivity Their
has been diminution of offers from
India and transactions on Chinese &C
count were on a smaller scale, China
being well supplied with most de
scriptions. Meanwhile a daily mis-
cellaneous business, reaching Iarg
proportions was done. Yarns eX.
hlbited considerable strength. Support
ed by the buoyancy of the market, tn,
manufacturers are maintaining TIL
daily advances. Although the trans
actions done in yarns during the weel
were not large, several important line
are quoted at increased rates.