New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1890-11-17
ON FOREIGN EXCHANGES.
THE SITUATION DURING THE WEEK IN LON
Don, PARIS, BERLIN AND FRANKFORT.

THE SITUATION DURING THE WEEK IN LON
DoN PARIS, BERLIN AND FRANKFORT.
TENSION RELIEVED BY THE SUCCESS OF
i THE PLAN TO AID THE BARINGs-How
AMERICAN SECURITIES WERE
AFFECTED IN ENGLAND.
London, Nov. l6.-Busness in discount during
the week was limited, owing TO the unse''e"
state of finarcial affairs, brokers declining " w
ANYTHING under the Rank of England's minimum
rate. The Stock Exchange throughout the weeS
was in a condition of extreme tension "iion
was only relieved yesterday when 1t became k"om" o
that financial crisis had been averteo' In.
proprcss of the settlement without any Important
failure and the influx of gold into the bahs VI
England caused brief snrface Improvement aoooo
the middle of the week. but an undercurrch0 III
rumors associating great fnancia MUS VIZ"
impending disaster checked all tendency !" oo''
fdence in the future. Even peiore ,ne 0eo".
ment the critical position OF TINS nrn' 'nrousn
tremendous losses connected with the Argentine
md Irrur,avan Rerublics was well known. Those
who best knew of the firms affairs expected that
the crisis would become acute on Monday The
frm was then NEGOTIATING for assistance in every
likely quarter.
The alarm did not reach the public until the
eve of the success of the negotiations, when the
Rank of England in conjunction with the Roths
childs and Others had determined to interfere to
prevent the catastrophe. The arrangements were
completed on Thursday. The wave Of depression
then prevailing continued until the opening yeser-
day. when the public announcement that a great
collapsc had been averted relieved the tension,
though it did not dispel distrust.
The general feeling is that it is still too early
20 conclude that all is right. 1t is known that
a number of minor firms have been under heavy
strain 1t is also improbable that confidence will
be restored until the position of the Barings
toward Argentine financial matters becomes
clearer.
Dr. Plaza. the Argentine expert, who is now
in London is treating with the Barings and other
firms regarding immense operations, involving
loan of "a 900, ,oOO besides the settlement of the
national, provincial and cedula loans DR.. Plaza
has not yet formulated proposals acceptable to
the hnanciers.
The rally of yesterday was largely due to re-
buying by bears. The rise left Argentines to
r per cont down on the week, while Uruguay
showed decline of to 1-2 per cent. English
railway securities lost l to Ia per cent Amer
lean railway securities fiuctuated widely, gen
orally shrinking in value The weeks variations
include the following Decreases Northern Pa
cifc preferred, g. Louisville aud Nashville, IA:
Denver and Rio Grande preferred. and Norfolk
and Western preferred, each Wabash, ST. Louis
and gecific preferred 1.2; Erie, 5-S; do. seconds,
"a; St Paul common, Ia; Pennsylvania, 1-2;
BEADING, 1-2. Increases-Union Pacific shares.
/ 1-2; New-York Ontario and Western, Mexican
Central, and New-York, Pennsylvania and Ohio,
/ each Lake Shore and Michigan Southern, l-2
Vor1r frol
dian railway securities were firm. Grand Trunk
first preference rose IA: do, guaranteed, do
third preference. L. Mexican Railway was weak,
ordinary lost 1-2 seconds declined ! Pre'veries
were in better demand Guinness gained 81 New
York advanced 1-2. Nitrates were weak; Priml-
twas dropped / 3-4. Rupee paper was steady.
The weeks shipments of silver for India amounted
10 over 100000. Among the new companies
whose stock was placed on the market during the
week were the Colorado and BernadO silver mines
The Chemical Bank, which does the prlnclpal
business with the West Indies, where IL mas
numerous branches, is about to establish branch
in New-York The reason it assigns for this step
is the large and increasing business between tic
West Indies and the United States.
Paris. Nov. l6-On the Bourse this week, eX-
cepting in foreign securities, prices were steaoy
Foreign securities were unsteady owing to the
adverse movements in London, and yesterday they
closed at the lowest prices of the week. There
was a general Offering of stock on foreign &C ac-
count. Three per cent rentes show fall ior the '
weeI, of 32 centimes Credit Fonciei shares Ial
of IA francs, and Rio Tintos fall OF lo francs
Berlin, Nov. 16.-Prices were extremely uh-
settled on the Boerse the week past owing 10 the
intelligence of financial troubles in London, ana
the reported arrangement Of dificuities there lSeu
IN restore confidence. Foreign securities yester-
day fell 1-2 per cent. The closing quotations. Vi
Yesterday include: Prussian consols, lo4'eo' :
Deutsche Bank, 1850; Mexican sNes' 'o.oo'
roubles. 247; short exchange on London
2o.4o1-4: long exchange on London 2oIi' pr'-
yate discount Ia aD. z;+
ST. Petersburg dispatch to the Borsen Aelt-
ungn s4ys that the Bank of England is negotiating
with the Imperial Bank for 91,5oo,oo goid'
FRANKFORT. Nov. 16.-During the week past thc
business ON the Boerse limited. Prices were
weak Operators were awaiting further news OF
tho London difficulties, and would not engage In
,rarsactions. Yesterdays closing quotations IN
e,nde. Hungarian gold rentes, $500; Italian hves
90 S0 Spanish fours, rs; Austrian credit 2oo !:
e.r;an silver rntes .7s: short exchange on
1ondon. 20. .46; private discount, IA.