St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1891-11-16
FOREIGN FINANCES.
Condition of Money Markets
Across the Atlantic.

LONDON, Nov. 15.-During the past week
discount was quoted alta for three months and
pig for short. There was no demand
Money is plentiful, the Bank of England
having received the week 81, l27. 900 in bull
ion, partly gold from Brazil and partly re-
payments from the provinces. There is
&25O,O06 still to come from Brazil, and the
large shipments are reported from Au-
stralia. Unless the export demands for gold
develop greater strength than at present ap-
pears likely no advance of the bank rate
is probable this year. The condition of
the money market here in the immediate
future depends chiefly on the financial situa-
ton in Paris. Financial houses there are
overloaded with stocks upon which it is i'm
possible TO realize. The troubles in Berlin
on the surface give no uneaSlness here COM
pared with the apDTehensions of a collapse
affecting big French institutions. The stock
exchange during the week-had an appear
ance of severe depression, chiefly due to the
situation i'll Paris. All stocks in which the
London stock exchange has a common in
terest with Paris were badly shaken. Russian,
Spanish and Portuguese securities relapsed
per cent. In Brazilian securities there
was an absolute panic, the decline in the
various issues ranging from 10 to Il per cent.
The developments of the next fortnight in
Madrid and Paris are anXiously awaited. The
Bank of Spain has renewed negotiations
with the Rothschilds for a loan. In the
meantime the bank will proceed with fur
fher issue of paper money.
American railroad securities suffered under
the all pervading gloom, the prospect of diff
ficultes here leading TO realiZationS. But
generally considering how blocks of Amer
lean railway securities held until the begin
ming of the week on the continent
have been thrown on the London
market during the week to be absorbed
partly here and partly in New York
pric have Kept their ground well. There
were symptoms yesterday of a reaction
There was rise Of most kinds offered, find
ing ready takers. At the same time brokers
reported an influx OF buying orders, and the
days dealings altogether had q greater ap-
pearance of strength than i'll some time past.
The weeks variations in prices of American
railway securities included the following /:
Inereases-Union Pacific shares, ia Atchi-
son. 1Ia, Lake Shore, l.. & n. and Norfolk d.
Western preferred, Illinois Central and
New York Central, IL each; Erie ordinary
and st. Paul common, each; Reading, Il
Decreases-Wabash debentures, 214; d. & R
G. preferred IA; o. d NJ. ord, ia; Central
Pacific shares, d. IL r. G. common, Mexican
Central n. Up. q o., 1st mortgage, and Wa
bash ordinary, u each. Canadian securities
were quiet excepting Canada Pacific. in
which there was considerable speculation
! being sold largely on Berlin account. Cana
! dian Pacific dropped early in the week 3
| points, then rallied, again relapsed, and
! closed Yesterday a higher in the week
| Grand Trunk ordinary I'd and Sd preferred
lost , each. Among miscellaneous securities
| Rio Tinto and Bells Asbestos declined I2
| and AllsOpps pa. Among the weeks issues
the amount Of 590,C00 pounds
| PARIS. Nov 15.-PriceS on the bourse were
| unsteady during the week, closing yesterday
| with marked depression with rush of indis-
/ criminate selling. Shares of several banks
were offered a prices distinctly indicating a
| panicky feeling. Compton d'Escom pte
| dropped p francs, making week 5 fall of
| 90 fraucs. An illustration of the present po-
| sition may be obtained from a comparison
/ of Yesterdays prices of shares of some OF the
/ great banks with tine prices CT the same
| shares a fortnight ago. Credit Fonciers.
then 1850, is now HIP; Bank of Paris, then
| 756. now $50; Banque d'Esccmpte, then
| 40 now 395; Compton National Escompte
/ then $40 now 495. The Brazilian troubles
especially affect the Banque de Paris Other
! banks here owe their difficulties to over spec
uIation in Russian and Spanish securities,
and unless the Haute Banque is able 10 sup
! port the coming liquidation a big panic
seems inevitable. Besides the speculative
| collapse, a bad harvest and depression in
! general trade make the situation notably dis
| comforting. Three per cent rentes decline
| 75f on the week; Bank of France shares 40f,
and Rio Tintos 4S4f.
! BERLIN. Nov. 15.-PTices were weak on the
| bourse here during the past week. The pre-
| vailing depression was increased yesterday
| by the receipt of unfavorable advices from
| Paris ana forced sales for Vienna account,
/ owing 10 the failure of a large Speculation
| Russian securities fell 1ss per cent for the
| day, while Hungarian gold rentes fell ia per