The Birmingham age-herald., 1903-04-27
BERLIN BOERSE
 HAS A DULL WEEK
SLIGHT VOLUME OF TRADING RE- SUITED IN GENERALLY LOWER
 VALUES COAL SHARES SUE TERED ON ACCOUNT EARNINGS.

Berlin, April 26.-Although the appre- hension in regard to the American situa- tion has disappeared, the Boerse had a dull week last week, and a slight volume of trading resulted in generally lower values.
 The political situation in Macedonia and
 Morocco begins to be taken into more serious consideration here, not because important international complications are feared, but because of speculative devel- | opments in the immediate future are rem dered uncertain. Another bear factor was | the recurrence of the rumor that Ameri- ! cans are trying to cancel their orders for | German iron; this report, however, was
 not confirmed Nevertheless, in connec-
 ton with the decline in Scotch iror. | through the slackenlng of the American | demand, it caused a pretty heavy selling
 of iron shares in Berlin. quotations break
 ing from to points. This department
 of the market is less able to withstand | an attack than any other because of the existence of large bull engagements. | Coal shares suffered last week because | the March earnings of the large com
 panies did no realize the expectations of the market.
 General industrials were mostly lower, Government bonds constituted the strongest feature of the market last
 week. nevertheless German IS broke 30
 pigs, upon the heavy selling of specula- | tive subscriptions to the new issue. Among | foreign government securities Argentine $ were the strongest upon the improving | | upon the rise in silver, and Spaniards | were firmer on favorable crop reports and | Paris orders.
 Chinese developed some interest be- | cause of the interest of German interests
 in China to the organization of the Ger | man Chinese Railway company This
 company plans the expenditure of 100, 000
 GOO marks in the building of railroads.
 Money rates have a higher tendency.
 Short term loans reached per cent yes
 terday and the private rate of discount | was 27s, The reason for this is because cash is being raised for the first payments tomorrow on the new German joan. For eign exchange rates were not uniform,
 New York dropped D pigs. during the
 week. the London rate was easier and
 the Vienna and Paris rates were higher. | The fFranlxfurter Zeitung believes 1t | scarcely probable sfat 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, ss76, GOO. an increase over the
 corresponding period of last year of $3g,-
 500 1000: exports. $3Ol. .25Oo0O. an increase of | S31, 25e,000
 The export of raw sugar to the United | States for the three months was only
 c721 tons, as against 22,749 tons in 1902
 end 2,SS2 in 1Sal.
 The crop report fer all of Germany dated April 10, shows an average Of
 PHO, the poorest for the past ten years
 with the exception of 1902. he condition
 lest year was ? 2-10 Rye averages ? 9-l0
 as against ? , 10 last year Crops have suffered severely owing to the severe cold
 of the early winter, and cold rains of March and April
 | The Lokal Anzeiger says that the Ger
 man government has decided upon the | imposition of retaliatory duties on Can adian products, equal to the extra duties 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.