Green’s Dictionary of Slang

Queer Street n.

[queer adj. (1) + SE street]

[early 19C+] any difficult situation; usu. in phr. below.

In phrases

in Queer Street [Queer Street begins as a fig. ‘place’ where the only ‘dwellers’ are problems and difficulties; the financial aspect, now dominant, was added in mid-19C]

[early 19C+] in trouble, esp. financial.