St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1891-07-20
FOREIGN FINANCES.
Condition Of the Markets on
the Other Side the Is riny.

LONDON. July 19.-During the past week
there was good demand for discount with
money less abundant. Discount was quoted
at ls4 for three months, and u for snort.
The total amount of gold Withdrawn from
the Bank of England for the week was 81, 1Oo,-
900 including 4S)5. 900 which went 10 Russia.
The Bank of England's reserve is now less
than el6,000,001. About 33,0N.000 will be
wanted for home purposes during the
autumn. This drain, besides contingent
shipments of gold TO the United States, gives
certainty Of dearer money: The English
River Plate bank failure left the stock eX-
change yesterday IN condition OF
general depression. The collapse did no
surprise people in a position 10 know the
facts. by whom it has been for some time rec
ogniZed as an almost inevitable incident III
the progress of the period OF liquidation
often mentioned in these dispatches as not
vet completed, though approaching an end.
The suspension Of the River Plate bank will
be followed by other Wlndlng-ups betoTettne
way is thoroughly cleared for sound bust
ness. Prominent among expected South
American defaults IS that of Uruguay
The omission of the republics agent,
DR.. Ellawa, in trying 10 arrange
loans proves a dead failure London aud
continental financial houses apparently con-
sidering the Uruguayan government as bank
rupt beyond hope. The pervading sense OF
insecurity IS affecting the best secuIstles.
COnsols fell p per cent on the week, rupee
paper "a and India threes lss. Among the
foreign securities Argentine lost ll2 10 per
cent Uruguay bonds ga. Portuguese bonds
ia and Chilians ll2. English railway secu-
rites were weak The dividends were disap-
pointing. The dividend of the Southeastern
was 2I2 against 3l4, that of the Great East
ern 1l2 against q previous per cent. and
that of the Brighton ga against previous
Al, the result being an average fall for the
week Of from TO 3i4. American railway Sc
curities were deadly dull, with a general rec
ord of falls in prices. They closed at the
lowest quotations yesterday and the street
he Of the week Tho
week variations in prices include the fol-
lowing decreases: Denver d Rio Grande
preferred. 51; Norfolk & Western preferred,
3I2; Union Pacific and Denver ordinary, 1l2
each; Louisville & Nashville and Northern
Pacific. ia each; Central Pacific, Mexican
Central and New York, Ontario and Western,
1I2 each. Increases: Lake Shore, 1l2; Wa
bash debentures, PIP. Canadian securities
ferred dropped ls4; Grand Trunk Sd pre-
ferred. 1l2; Grand Trunk guaranteed per
cent; Mexican railways were pressed for
sale; seconds lost 54; trsts, Ala and
ordinary, 27s. In bank securities London
River Plate dropped Z per cent; English
River Plate go shares. which were quoted
at - last week, were offered yesterday
gratis. with bonus of g. but there were no
takers. The liabilities of the bank are esti-
mated at 100000. and the visible assets at
92,000001, with about e3 100000 of doubtful
bills due in South America. Among miseel-
laneous securities, Guinness dropped /, ALI
sOpps :, anu NitIateS II NH44S DS-4 AsOeSIOs
gained 1l2.
PARIS July 19.-The bourse was quiet dur
ing the week and closed heavy yesterday,
owing TO The depression in London. The
declines of the week include: per cent
rentes. 10 cendmes; Credit Foncier, 51sf;
Bank Of France 20f
BERLIN, July l9.-Dealings on the boerse
were limited during the past week, but the
tone OF the market was firm. weakened by
reports of London and Argentine failures.
The closing quotations of yesterday include:
Prussian As 1898; Mexican 6s. $3.50; Deutsch
Bank, l52: roubles, 222.5 50; Bochumers. i'll;
Harpeners, IS4; short exchange on London.
2J.34; long dom, 20.254; private dis
count 3ss.
FRASKFoRT. Juiy 19.-The past week was
dull one on the bOerse. Prices were steady,
however, except those of foreign securities,
! which declined Il per cent yesterday. The
| closing quotations show: Portuguese bonds.
65.10; Russians, $3.50; Spanish IS. RIO; short
exchange on London, 20.3i; private dis
| count 3A.