NO MONEY FOR WAR.

Poverty Bay Herald, Volume XXXX, Issue 13071, 10 May 1913, Page 9

NO MONEY FOR WAR.

FRESH "SLUMP" IN BERLIN. BERLIN, March 18. There was .a "slump" on the Berlin Stock Exchange to-day m consequence of the growing uneasiness over the political situation and the continued stringency of the money market. Ihe Cologne Gazette's warning of the "inevitability" of trouble with France was the primary cause of the nervousness. Standard, stocks -fell: 'sharply, Canadian Pacific - Railway shares — which Germans are disposing of both* at home and abroad m lots calculable only m thousands— dropped another t_ points, closing at 225^. The most remarkable decline of the day was m the shares of the Vulcan Shipbuilding Company, which fell from J 169 to 133 m consequence of the reduction of .the dividend from 11 to 6 per cent, Shares of the company, which operated last year at a loss of £100,000 on account of the building of German Dreadnoughts at a loss, were offered to the number of 100,000. General electric shares fell 6 points, and Deutsche Bank, Phoenix, Irons, and other staple issues from 2 to 3 points. Government bonds also declined. The gold famine shows no sign of abating. Messrs Lizard Brothers, of London, are said to have £500,000 worth of gold m transit from New York to Paris "for a Berlin destination. Money continues inordinately dear. The banks are extending credit with the utmost reluctance. To-day's stock market strengthened and recovered fractionally towajds the close on a rumor that the Russian troops on the Austrian frontier will be demobilised to-morrow. The Kaiser, according to the Tage-blat-t, will contribute to the war taxes for*\the Army a sum of £296,000. The statement is based On figures from Herr Rudolf Martin's "Almanac of Millionaires," which estimates the Emperor's fortune at £7,400,000. consisting of £6,400,000 of urban property and country estates, including fort castles, and £1,000,000 m cash 'on deposits m the banks. The Kaiser's annual income includes £875,000 from the Prussian Civil List. Frau Krupp's tax, according to the same estimate, will be £586,000 on a fortune of £14,650,000, while Prince Henckel von Dorinersmarck, the next richest person m the Empire, will pay £508,000 on £12,7C0,000J The German Crown Prince will pay' £11,100. and Admiral Prince Henry of Prussia £4000.