St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1891-08-10
FOREIGN FINANCES.
Condition of Money the other
Side the Atlantic.

LONDON, Aug. 9-There was plethora of
money during the past week Discount was
quoted at IL for three months and u for
short, with no demand. A small drain ofgold
continues toward Germany. There is moth
ing to indicate large immediate Withdrawals
from the Bank of England from any quarter
Though discount houses are obliged TO work
at absurdly low rates for short bills, six
months drafts are not regarded with favor
On the stock exchange during the week bust
ness was exceedingly quiet yet prices be-
came firm toward the end OF the week and
the tone became more cheerful. The public
are beginning to think that things have
now reached their lowest level
small stream OF investments makes
business slightly more active in spite of the
holidays. In foreign securities the chief
feature was a recovery of . to 3 per cent in
Argentine nationals OH rumOrs that the
British government is about to interpose in
the Argentine financial arrangements i'll a
few of the enormous British interests in
vowed. Nothing definite Is known, how
ever, confirming the rumOrS. Brazilian
securities advanced 2S4 ana Gillian per
cent. due to speculative rebuying. English
railway securities were dull, owing to poor
holiday traffic. American railroads were al
together better, excepting Union Pacific,
which was actively sold on adverse rumors;
and the latter has not quite recovered since
the official denial of these rumors. The
course of dealings since Wednesday en-
courages the hope that the tide has turned in
this department The upward movement is
likely to be kept within moderate compass,
yet a steady rise is assured.
Variations for the week in prices of Amer
lean railroad securities include the follow
ing: Demonstration Pacific shares, PIP:
Pennsylvania, Is. Increases-Lake Shore,
1l2; Norfolk d Western preferred, III:
Northern Pacific and Wabash preferred, 1
each; Denver q Rio Grande common, Erie
ordinary, Louisville d Nashville, Mexican
Central, Wabash debentures. New York. On
tario & Western and Central Pacific shares,
" each; Illinois Central 1; st. Paul common,
1S4.
Canadian railway securities became slightly
frmer on the receipt of cabiegrams setting
forth Sir Henry TyIer's views regarding
friendly relations between the Grand Trunk
and the Canadian Pacific system shares and
Grand Trunk first and second preferences,
all advanced 2 on the week. The securities
of the Mexican railway were dull, and frsts
and seconds fell IA each on the week.
Among the miscellaneous securities PRINT
tivea Nltrates gained Is on the week; Bells
Asbestos, a, and Eastman's and Rio Tintos,
ls each. Trusts continue on the decrease.
PARIS, Aug, 9.-On the bourse during the
week business was at standstill. Three per
cent renteS rose % cenumeS during the week,
due to buying for saving banks now averag-
ing 1000, 900 francs daily. Credit Foncier rose
Is francs, and Rio Tinto IA francs; Bank of
France lost 5s4 francs, and Panama Canal
lost pa francs at q nominal quotation of
the Credit Lyonnais authority to establish q
branch at odessa
BERLIN, Aug. Con the boerse during the
past week business was dull and prices
weak. Russian securities dropped So per
cent yesterday on the announcement or the
prohibition of the expectation of corn. The
final quotations include the following: Prus-
sian fours, 1880: Deutsche bank, 142. % ::
Mexican skies, $3.50; roubles. 1885, Bochu-
mer, no: Harpener, 164; short exchange on
N
1927; private discount, 3ls.
FRANKFoRT, Aug. 9.-9here was a general
decline i'll foreign securities yesterday, aver
aging y per cent. The final quotations IN
clude the following: Italians, 80; Portuguese,
81; Spanish, 30; short exchange on Lon
don % ~. 1nriuntn discount aga