The Birmingham age-herald., 1910-10-30

The Czar Is evidently determined to rebuild the Russian navy as fast as the finances of the country will allow. The navy estimates for the coming year, which the duma will be asked to sanc- ton, provide for ordinary expenditure of GOO roubles (about s56. 800 000) or 23746,000 troubles more than last year There is an increase of 2,174000 roubles on ship building, of 2,T5000 roubles on rearmament, of 2,174000 roubles for navi- gation, of 1.448,000 roubles for repairs and the maintenance of ports, and 402,000 rou- bles for the upkeep of crews grant of 3,026,000 roubles is asked for the equip- men of the admiralty ship building yards and 90,000 troubles for secret expenditure. The estimate for the construction of new battleships is 2S,000,000 roubles as against last years estimate of 9507,00O roubles.
 During 1911 the battleships Adrein Per vozanny Imperator Pavel and Yevstafy (Eustaphius), the armoured criuser Grom- oboi and the cruisers Pallada and Bay ann will be placed In commission, while the cruisers Asia, Admiral Kornloff and Grozyashchy, and the gunboats Ardagam and Kars will be withdrawn from the active feet
 The extraordinary expenditure Is esti- mated at 10,303,000 roubles, including sums towards the liquidation of the Russo Japanese war, as, for instance, 1,735,000 roubles compensation for privately owned vessels sunk by Russian warships and 431 ,000 roubles in prize money.
 Germans are showing manifest de- termination not to invest their savings in German government bonds, with the result that these securities are continu- ally going down in price. A prominent Berlin financier whom asked for an explanation of this told me that the main reason lies in the fact that small capitalists and pensioners are no longer content with low rate of interest.
 Tn view of the rise in the price of pro- visions and the general increase In the cost of living" he said, ''innumerable small capitalists are no longer content to be satisfied with the interest on German consols. This Is also true of the innum- erable pensioners possessing small private means. These classes, who previously in- veted in government bonds, are now driven to place their capital in stocks bearing higher interest"
 ''This growth of investment in indus trial securities is a real danger, for theso small investors are always the first in time of crisis to throw their holdings on the market and in case an industrial set back comes our situation here will be more than alarming"
 The agitation in favor of Introducing Argentine meat into Austria Is spreading throughout the empire. The decision to permit the importation of 25 tons of frozen meat as an experiment has only increased the determination of the social ists and the anti-agrarian parties to press for an unlimited supply. A large number of public meetings are held every day in the chief Austrian centres attended by from 4OO0 to 5000 people in each locality
 A telegram from St. Petersburg states that the police. in searching the house of Moulgarlgarski, who is accused of having forged the will of Count Oginski. dlsccv- cred a historical document, the text of which was written in blood It Is con tract between M. Bosobrasoff, secretary of state, and Abasa Moulgarlkarski, re- lating to forest concession in the Yel- low river which was one of the causes of the war with Japan.