St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1891-07-27
FOREIGN MARKETS.

LONDON, July 26.-Money was more plenti-
full during the past week, and discount was
easy at ia for three months and "a for short.
Since The opening of the week. when dis
count rates touched the official minimum
and an advance of the Bank of England rate
appeared imminent the monetary outlook
has RAPIDLY changed. Wednesday Russia re-
turned t750, Geo of gold to the Bank of En-
gland, with the prospect or sending more.
This sudden reversal of action of the Rus
sian treasury is mainly due to the failure Of
the crops in Russia. Being unable to
pay her debts abroad by sending wheat
and rye. she must remit bull
ion. The general continental drain
of gold VIII lessen the autumn Shipments TO
New York. Altogether the renewed abun-
dance of loanable capital with the conse-
quent easier rates, promises to stimulate
business In the meantime the stock ex-
change shows little revival. Dealings are at
the lowest ebb, even securities of undoubted
stability being i'll many cases unmarketable
Cheap money is of no avail when the public
is so pervaded with sense OF dislrust that it
will not touch good investment securities
Consols improved slightly, gaining So OH the
week. In the foreign securities department.
the feature of the week was the depreciation
in South American bonds. Uruguayans
nouncements that Dellauri, the Uru-
guayan envoy, had effected a new
financial arrangement. The crisis in Monte
Yideo in the affairs of the national bank,
causing the Uruguayan government to de-
cree weeks suspension of business, appears
to be the prelude TO reputation of part OF
the republics debt with reduction in the
interest on the remainder. The London rep
resentatives of the River Plate bank interest
protested vaiuly against the enforced closure
of banks under the decree. Argentine securi-
ties declined Big on the week: Portuguese
bonds, 3S+; Brazilians, lS4; Chilians, 1l2, and
MeXicans pa British railway securities were
irregular In American railway securities
DEALINGS pYtrpmnlU limifp6 tho
those in New York. Variations for
the week in prices of American railway
securities include the following: Decreases:
Mexican Central. IA; Lake Shore, l: North
ern Pacific and Union Pacific shares, "a each;
Denver & Rio Grande common and New
York, Pennsylvania d Ohio first mortgage.
"A each St. Paul common, *. Increases:
Denver Rio Grande preferred, 1 per cent;
Norfolk d Western preferred, 81: Central
Pacific shares and Louisville Il Nashville y
each. Canadian railway securities were
strong, owing to prospects of large harvests
and good amount of traffic in the autumn.
Grand Trunk first and second preferred rose
each PIG on the week. and Grand Trunk third
preferred 1S4. The securities of the Next
can railways were firm, ordinary showing an
advance of 1l2 on the week, and seconds au
advance of a.
Among the miscellaneous securities Bells
Asbestos advanced "a and Guinness 54,
while Eastman's declined 1s and London
River Plate bank shares "a. Trusts gener-
ally have deteriarated, owing to the public
fears that they are concerned in recent fail
ures.
PARIS, July 26.-The week past was a quiet
one on the bOurse. Prices were firm Three
per cent rentes show an advance of 20 CEN
times for the week, and the Bank of France
shares an advance of 54 francs while Credit
Foncier shares declined pa francs and Rio
Tintos 1l2f.
BERLIN, July 26-Business on the boerse
was dull last week ana there was general
decline in home, foreign and industrial Sc.
curities. Prospects of a poor harvest and
the doubtful monetary situation combine to
depress values. The closing prices of yes
terday include: Prussian tours 1870;
Deutsche bank. 150 Mexican skies, $40;
Bochumers, 104; Harper ers, 1888; short ex-
change on London, 20.33A; Long exchange
on London, 20.23A private discount, 3I2.
The Reichsbank committee yesterday de-
cided not TO change the present discount
rate.
FRANKFORT, July 26.-On the bOerse prices
were weak during the week past, especially
in the foreign securities department. The
closing quotations of Yesterday include:
Portuguese bonds, 1925; Italians, 90. 50; Rus
slams, $500: Spanish As, 71.S0; short ex-
change on London, 20.33; private discount
331