St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1891-10-19
FOREIGN FINANCES.
Condition, OF Trade in Trasss-At-
lasntic Countries.

LONDON, Oct. 1S.-Diseount was quiet dur
ing the week past The quotations were "a
for three months and 1l2 for short. The
stock exchange rate Tor loans until next ac-
count ranged from 3 TO Gig. Money was
abundant. The drain of gold has lessened
aud promises TO continue moderate. II
money remains cheap in New York 1t Is evil
dent that heavy Withdrawals of gold from
Europe Will not be made, however enormous
may be American shipments of cereals.
Fears of dear money and sharp rise III
the Bank of England rate are, therefore,
for a time averled. \ new feature OF the
market has been the remittance of hail
million in bullion 70 Argentine, the money
being required against produce shipments,
for which bills cannot be negotiated in
Buenos Ayres. 1t is expected that two lIiiI-
ions will be dispatched-a proceeding which
ought TO have an important influence toward
Teyiving Argentine finance. On the stock
exchange the week was mainly one OF in
activity. There was a general tendency
downwards. The breakaSe of telegraph
wires, owing TO stormy weather and the
consequent stopping Of communications,
have greatly intere fered with deal
ings. Yesterday, however, transact
ions frightened owing 10 easy money. news
of Il recovery III prices from New York and
Paris. and Il more hopeful feeling as to Ar
gentines. American railway securities early
in the week were notably depressed Values
were then daily receding. but recovered
somewhat after Wednesday. The market
here initiated an advance, the public again
showing readineS To buy al comparatively
low prices The coed business OF the last
two days OF the week much modified the
previous decline, although dealings Sill
lacked the animation Oi q few weeks ago
Nearly every kind profted by fair
rise yesterday, yet the closing prices
of number of the securities
show decreases for the week. Variations
Tor the week of prices of American railway
securities include the following: Increases
Central Pacific shares, Northern Pacific, ID.
& r. G. common, Erie seconds. New York
Central and Reading u each; illinois Cen
trail, ia Pennsylvania, as. DecreaSes--N or
folk Il Western preferred, 1; Louisville u
Nashville u Denver d Rio GraEde pre-
ferred Lake Shore, Ohio u Mississippi ordi-
nary. Union Pacific shares and Wabash pre-
ferred, IL each. Canadian railway securities
we're heavy till the end of the week. closing
firm yesterday. Grand Trunk first and second
preferred declined each on the week; do
guaranteed STOCK ), and DO ordinary /. The
securities of the Mexican railroad continued
20 be sold. tirsts ana seconds declining 2l4
each on the week Among the foreigners
Argentine securities developed considerable
strength, advancing 1l2 to +. Spanish bonds
lost Up. owing 10 a sharp decline III eX-
change. European stocks generally were
weaker, owing 10 the large amount OF the
new Russian loan requiring 10 be taken up
by the syndicate, There was good feeling
i'll British railway securities, owing 70 i'm
proved traffic. Yesterday closing prices
advances for the week OF from u 10 lie
i'll this department. OF the miscellaneous
Big on the week. Gas company shares are
suffering seriously. owing TO the prospect OF
increased competition with electric light.
Within the week London Gas fell Ii and
South Metropolitan II. Australian Broken
HiH mining shares, which some time since
were rugged up 10 heavy premium, are now
quoted at 80 per cent discount.
PARIS Oct. Is business was active on the
bourse during the week. Prices were irregu-
lar most of the Neek, but closed firm yestsr-
day. Three per cent rentes advanced 4.c,
credit foncier 334f and Bank of France
shares'15f. while Rio Tinto declined iyf The
Russian loan is at So discount. representing
# per bond of 503f As banks receive 4 com
mission of If per bond. a. es Gt this nominal
discount still leave them . tangible profit.
BERLIN, Oct. 1S.-On the boerse during the
week business was quiet and prices were
steady. French orders buying Russian Sc
curites yesterday gave tone to the close.
The final quotations include: Prussian IS
1880: Mexican is. s7.25; Deutsche bank,
1850; Bochumer, 121; Uarnener. 1S5: short
exchange on London. 2).3!i4 long exchange
en- London 2)-2O14 p ivase discount. 81.
FRANKFORT. Oct. Robustness was very
quiet on the boerSe during the week. Prices
were firm. The final quotations include:
Italian. - 30; Portuguese, 5l.S0; Spanish,
Cs.3O; short exchange on London, 21.J3; phi