St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1890-06-23
Trend of Trade OH the BourSes
of Europe.

PARIS, June 22.-The Temps publishes a
report on the Credit Foncier, which, after
recalling the fact that the institution was es-
tablished with the object of conducting GER
tain special and limited operations, declares
that the original spirit of the undertaking
has been somewhat lost sight Of The insti-
tuition was committed TO operations of bank
character. In statutory operations requisite
precautions were not strictly observed. Still,
its financial soundness is beyond question,
as it offers everv security; but its credit
would be higher if it were freed from defects
of administration.
LONDON June 22-There was a good de-
mand for discount during the past week
at 3@2I2. On the stock exchange business
was dull throughout the week. There was
dearth of speculation and general tendency
to realize, which limited fresh buying. All
stocks were lower English railway securities
relapsed "a per cent; foreign securities de-
clined, Spanish, Russian and Turkish falling
one per cent Egyptian preference declined
1l2 in spite of the success of the conversion
loan, on which there will be extensive realiza-
lions as soon as the stock is allotted Amer
lean railroad securities continue depressed,
the uncertainty of the silver legislation par
alyzing speculation. The weeks variations
in prices include the following decreases:
Mexican Central ordinary, 352; Wabash
Louisville & Nashville, each Lake
Shore. ia: Norfoli, preferred and
Wabash ordinary l12 each: New York. On
tario d Western, Erie preferred, Northern
Pacific and Mexican Central mortgage,
each; Central Pacific. Denver common. Ohio
q Mississippi, Mexican National and n. T.,
P & O.. I5 each. Canadian securities shared
in the dizziness, Grand Trunk first and sec
ond preference relapsede2 each. and third
railway seconds dropped 2I2, and ordinary
liz. Brewery shares were steady; Allsopps
ordinary advanced 4. The boom in copper
abated, and there was slig hit reaction under
sales yesterday. Rio Tlnto fell "A. The
weeks issues include the London d New
York Investment corporation, the London
Scottish American trust, the Mexican Quick
silver Mines and the Sequah Patent Medicine
company; also 100000 OF gold bonds OF
the Tennessee 4 Georgia and Richmond Il
formed to construct a harbor at BREAKDOWN,
on the Bristol channel, for American liners,
the port to be linked with London by the
Greatwestern railway
past dealings were limited. Prices were weak.
The report of the inspectors who lnvestl-
gated the affairs of the Credit Foncier
proved SO unfavorable that the government
has postponed its publication until M.
Christophle, the governor of the institution,
has had time to frame reply. The inspect
ors accuse NJ ChrIstophle of having made
imprudent and unauthorized advances.
When an inkling Of the nature of the in
spectors' report was made known yesterday
AFTERNOON, Credit Foncier shares fell 35f. AT
the same time per cent rentes declined Toe,
making a fall for the week OF 1lf 35c.
Copper was weaker Rio Tintos show
a decline for the week of 20f. In connection
with the Credit Foncier investigation LIE
Paix to-day stated that NJ. Christophle had
rendered his resignation of the governorship,
but that Minister of Finance Ronvier had de-
clined to accept it till he could consult the
rest of the cabinet. Panama shares are
quoted nominally at 46f. Lieutenant Wyse,
who was sent to Colombia to arrange for the
extension of the Panama canal concession,
cables that he has received assurance that
the Colombian government will support him
in his mission. The French submarine
cable company offers in the market H.
OOo shares at $40 francs par. Its purpose
is to lay cable lines to the West Iddies and
South America.
BERLIN. June 22.-Dealings on the Boerse
were restricted during the week past.
Prices showed weak tendency, owing TO
speculative sales, induced by adverse rumors
from Paris. Government bonds were dull
OWING to expectation of the issue OF new
imperial loan. Yesterdays closing quota
lions include: Prussian eonsolS, LOG. 10;
Deutsehe bank. 1870; Handles Gesell-
schaft, 1851; Mexican SKIES, $3.50;
Laura mine 1872; short exchange Oh
London, 2o.32; long do, 20.1942; private
discount, 3%.
FRANKFORT, June 22.-The Boerse was
very quiet last week Yesterdays closing
prices include the following - Italian IS,
1890; Russian 4s, 40; Spanish As,
ST. 40; Austrian credit, 1858; Austrian silver
rente, 1920; short exchange on London,
90. 81; private discount, 3A.