St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1891-05-25
FOREIGN FINANCES.
Conditions of Money Across the
BrinY Deep.

LONDON, May 24.-Discount was easy dur
ing the past week at for three months and
3 for sight The influx of gold into the Bank
of England during the week amounted to
81, 10000 in value. Another million is COM
Ing from Australia and two millions from
America. Although the New York ship
ments of gold are thought TO be nearly ended,
the Bank of England yesterday made further
purchases of gold eagles at a premium. The
bank reserve promises TO exceed 417,-
100000 early in June, and money will
be easy until July, when the issue
OF the new Queensland loan and the payment
of 91,5000OO i'll treasury bills, held in Rus
STA, are likely to enhance rates Of course
unforeseen contingencies may arise from GER
tain ugly features in the financial position
abroad, and may intervene and stiffen the
market. A rapid fall of discount rates being
against the policy of the Bank Of England
the governor of that institution iustigated
the London and Westminster bank Friday
last 10 call q private meeting of representa-
yves of joint stock banks with view of com
bining TO support rates, but the banks de-
clined to combine on the ground that an at
tempt to uphold rates would have
only momentary success, and was
bound to be short-liyed. On the stock
exchange, although only a moderate
amount of business was transacted during the
week. there was a general recovery of values
British funds moved up "a owing to easier
money. Among the foreign securities Por-
tuguese bonds constantly fluctuated, closing
Yesterday at an advance of SS on the week
Spanish bonds show an advance of OH the
week, while Argentine nationals have risen
Gillian T. railway shares were maintained at
par. Brighton dropped, showing fall of pa
Oh the week. American railway securities
were fairly active. There is general eX-
pectance of boom IN this department OF the
market Immediately after the gold shipments
cease. Meantime dealings are largely confined
TO professional operators VINO are snatching
the first chance for profits. Yesterdays
ba SIT
ant opening was succeeded by a reaction
and at the official close everything was down.
Subsequently the knowledge of New York
prices led to considerable street buying
when prices mounted rapidly up and closed
at the top of the advance. Variations for
the week in prices of American railway Sc
curities include the following: Increases
Ohio d Mississippi preferred 6; Louisville &
Nashville mortgage. 2l2; Ohio q Mississippi
ordinary, 1s4; Lake Shore Northern Pacific
Union Pacific and Wabash preferred. 1 each :
New York, Pennsylvania & Ohio firsts ana
Erie, 11s each; st. Paul common, pa
Decrease-Denver d Rio Grande preferred
ia; Mexican Central and Norfolk & West
ern gold, l each; Alabama Great Southern
and Mexican Central mortgage ~ each. Can
adam railway securities were weak. Grand
Trunk suffered relapse. Grand Trunk
first and second preferred and guaranteed
stock declined 1I2 each on the week. and
Grand Trunk ordinary "a. OF the miscel-
laneous securities, Eastmans gained 184 on
the week, the Frank Jones and New York
Breweries 1, and Rio tintos ". Anglo-Ameri-
canTelegraph.prefer lost 1I5 and Primitive
Nitrates Y. Among securities just issued
are those of the Mexican Refugio mining
concessions.
PARIS, May 24.-On the bourse during the
past week business was quiet and prices were
firm. The Importation OF gold from America
has increased the Bank of France reserve
S7.5000O0 since the beginning of the month
and caused a fractional reduction of the
bullion premium with these variations in
prices, include the following decreases. Three
per cent rentes. Csc; Credit Foncier, 4si
francs; Bank OF France, Is francs The cable
company will issue debentures to the amount
of Il, 100000 francs for a cable to connect the
Transatlantic line with the West Indies
The negotiations for treaty of commerce
with Spain has been suspended pending an