St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1891-11-02
FOREIGN FINANCES.
Condition Of Honey Markets
Across the Atlantic.

LONDON, Nov. There was a good de-
mand for discount during the past week at
3l4 for three months and pig for short. AL
though the rise in the Bank of England rate
has for the moment checked the drain OF
gold. further foreign demand is imminent
Withdrawals are being heard Oh account of
Buenos Ayres, Egypt, America and Germany,
while only small shipments are coming from
Brazil ami Australia. The Bank of England
is arranging TO take charge Of India council
money as means of steadying the mar
ket; but everything considered, an
advance of the bank rate to must be looked
for within Il month. The stock exchange
presented few noticeable features during the
week Dealings were on a very moderate
scale, ana speculation showed no decided
tendency except toward tlmidity. The con-
dition of the Paris bourse is chiefly RESPONSE
bic for this state of affairs. 1t is daily be-
coming more clear that French financial
houses are saddled with more Russian stocks
than they are able to carry, especially TOO
much of the new loan, 10 unload themselves
of which they are taking every quiet
method known. Spanish securities also
weigh down the foreign market.
The negotiations with the Paris Roths
childs undertaken by the Bank of Spain. TO
secure gold loan, hangs fire and the gold
premium at Madrid keeps high. An uneasy
feeling. therefore. prevails here regarding the
outcome of the approaching Paris settlement
Russian fours and Spanish and Portuguese
bonds show decline of Ia for the eek
and Brazilian bonds fall of ). This decline
in Brazilians was due to the fact that the
favorable effect produced by a cablegram
stating that the Brazilian chambers propose
to limit note circulation in the republic has
been cOunteracted by report that the min
lister Of finance proposes to use up the gold
reserves. The news of the trouble between
Chilli and the United States knocked Gillian
bonds down al one time SI4, butthey recovered
ia yesterday on the strength of the report of
the recall of United States Minister Egan
making the weeks fall >. This showing
would have been worse but for firm con
victiOn that war is a very remote possibility
Argentine securities gained Il ON the week
owing to advices Of improvement i'll the
financial situation at Buenos Ayres and q
sharp fall III the gOld premium there In
American railway securities dealings the
past week were limited and quotntions
nearly all around weaker. The public, it is
thought will await New Years initiative 20
resume buying. Business yesterday was es-
pecialy stagnant. The approach of to-mor-
rows holiday on the London stock exchange
and of Tuesday, holiday in Wall street has
activity, however, is expected after the cleo
TONS Meantime the bulk of the business
done here is in options Operators calculate
on considerable profits to result from rise
at the opening of the new year. Variations
for the week in prices of American railway
securities include the following: Decreases
Ohio & Mississippi ordinary, I; Atchison,
Norfolk q Western preferred, Wabash pre-
ferred and Wabash debentuTes, "a each; Cen
trail Pacific shares, Denver and Rio Grande
common, Lake Shore, New York Ontario &
Western. New York, Pennsylvania 4 Ohio
first mortgage and Northern Pacific, y EACH
ncreases-Union Pacific shares Louisville d
Nashville and ST. Paul common, y each
Erie 2ds. Il.
Canadian railway securities were weak /;
holders are evidently not sharing the hope
full views to which Sir Henry Tyler give cx-
preston al the Grand Trunk shai eh JlderS