St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1891-11-30
FOREIGN FINANCES.
Condition of Trade on the Other
Side of the Atlantic.

LONDON, Nov. 29-There was a fair de.
mand for discount last week, the quotations
being for three months and 212 for short
The value of money fuctuated during the
week. Stock exchange dealers borrowed
heavily during the settlement and the pay
ment of an installment OF the New South
Wales loan further diminished supplies
However, the strength displayed by the Bank
of England reserve. coupled with the entire
cessation Of the foreign demand for bullion
finally caused rates to become steady at
about the level of the previous weeks The
condition of the money market is now con-
sidered the best that it has been for a year
past. The autumn requirements have been
met and the expected unusual drain of gold
has not occurred. The Bank of England re-
serve is 900. and there is certainty that
1t will be increased by &3.000.000 during the
first quarter of the new year. In fact the
situation is such as to lead to the hope of
reduction of the Bank OF England rate before
long.
On the stock exchange business showed
signs of improvement, without any marked
revival Of activity. Fears as to the financial
situation on the continent have subsidized.
Yet operators are disinclined to increase their
commitments. ana unless some unforeseen
influence again excites the markets, the end
of the year will be period OF general qui-
escence. The chief incident of the week in
foreigners was the rebound of Brazilian As
on the fall of FonSeca and the appointment
of reliable finance minister; after being
bought higher at 64l2, they closed yester-
day at 60l2, weeks rise of s. Other
Brazilian securities rose to 10. Russian
advanced lis, chiefly under Paris specula-
ton. The report circulated on foreign
bourses that Russia intended resuming specie
payments in silver met with no credence
here The report probably originated in the
Rothschllds' buying silver for Spaiu. Spanish
and Gillian securities gained IA The
cabled terms OF the settlement of the Vir-
ginia state debt were at first received with
general satisfaction and sent the price from
40 to 80, but afterward less favorable view
was taken, and the quotation returned to 40
American railroads were quiet and fairly
well supp )rted. Speculation was dull,
but there were numerous country
orders to buy, chiefly low-priced
securities. Dealers are hopeful that New
York will initiate boom early next year that
will give a fresh start to business on the Lon
don stock exchange and all round. Varia-
railway securities include the following in
creases: Wabash debentures, liz; Ohio 4
Mississippi ordinary and Union PACING
shares, IL each; New York, Ontario & West
ern. Lake Shore and Northern Pacific, each;
Erie ordinary and New York, Pennsylvania
& Ohio first mortgage, u each; Denver & Rio
Grande common, l.. d N, Norfolk & West
ern preferred. Wabash preferred. Erie Sec
onds and St Paul common. each.
Canadian railway securities were in de-
mand. Grand Trunk second preferred rose
on the week; Grand Trunk first preferred.
1s4; Grand Trunk third preferred, 1l2, and
dTAIQ anu Ordinary STOCK
l each. The securities of the Mexican rail-
way were weak. Ordinary declined IL and
firsl 81. Amongst the miscellaneous securi-
ties Bells Asbestos was heavy declining lis,
while Rio Tintos lost Y, partly owing TO the
death of the chairman of the company.
Primitive nitrates gained ss on the week
Alsopps Pig; EaStman's Meat company. y.
An organization known as the London Ship
ping exchange has been formed. I. L. Field,
of the Atlantic Transport line, has been ap-
pointed honorary treasurer. The member
ship of the executive committee includes
the Atlantic Transport line: Mr.. Tweedy, of
the Atlantic Trident and other heads of At
lantic transportation companies.
BERLIN, Nov. 29.-The outlook On the
boerse is now brighter. and, though dealings
during the week were limited confidence is
returning, and bank and industrial securities
are rising. The final quotations include:
Prussian fours, 105. 50; Mexican SKIES IS. 70;
Deutsche Bank, 1850: Bochumer, lis; Har-
pener. J52; short exchange on London,
2034; long DO, 1923; private discount, 27B.
FRANKFORT, Nov. 29.-On the boerse dur
ing the past week good feeling prevailed,
and yesterday foreigners were strong. The
final quotations include the following: Ital-
ians, 81; Portuguese, $3.50; Russian, 9l.s0:
Spanish. IS. 40; snort exchange on London,
2033; private discount. 3ss.
PARIS, Nov. 20.-On the bourse during the
week business was quiet with slightly bet
ter tendency. The weeks increases in
clude: Three per cent rentes. zoe; Credit
Foncier, 1Af; Russian securities; IL per
cent; Spanish. 1l2 per cent Rio Tinto
dropped 15f. An agent of the Russian finance
minister, Vishnegradski, has had interviews
with the directors of the Bank of France
Credit Foncier and others on proposal to
pledge the unissued part of the recent loan
ers free to unload the bonds when they
choose The negotiations hang fire.