St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1891-05-11
MINING STOCKS.
FOREIGN FINANCES.
Condition of Money Across the
Rriny EeeD.

LONDON, May 10-Discount was in demand
during the past week al for three months
and Big Tor short. a further rise of the Bank
of England rate is probable in view of the
falling off of reserve, combined with the
further drain of gold TO the continent.
About Ell, 900 in gold is coming from New
York, but 1t is expected that the whole will
be bought up III open market for Russia.
The Bank of England has raised the
purchasing price for foreign coin Iad per
ounce in order to retain American and other
remittances 1t is reported that the Russian
government has minated its intention to
withdraw part of the balances held by for
eign bankers. The Bank of England besides
holding portion of Finance Minister Wish
negradsKys deposits, must meet 81 80 600 of
their bonds given Russia in November dur
ing the crisis in exchange and gold. There
is every prospect, therefore, of money ruling
higher. Although the rumors of foreign
failures have ceased, prices on the stock
exchange closed weak yesterday without any
sign of -allying, The depression in foreign
securities owing to continued selling orders
from Berlin and Paris affected every depart
ment The heavy sales ofsPortuguese bonds
brought yesterdays closing price down to is,
the worst reached, making the week S fall
| 4l2. Among South American securities
| Buenos Ayres show a fall of 31a for the
week. Spanish and Russian bonds have de-
| clined 1S4. In the English railway depart
menL the chief feature OF the week was the
sharp decline in Brighton, a stock favorite
for speculation among French opera
tors 1t fell yesterday 2ss; for the
! week decline of 6. Although American
railway securities have fallen away under
! the depressing influences here and the lull
| in the bull movement in New York there
continues to be an undercurrent of strength.
! In dealings yesterday considerable blocks at
| reduced values were readily absorbed. The
| conviction is general that with the ces-
| sation of the gold movement the tone of the
market Will quietly recover. Variations for
| the week i'll prices of American railway Sc
curities include the following: Decreases
Union Pacific shares, 284; Wabash
| preferred and Denver d. Rio Grande Dre
ferred, 2 each; Louisville & Nashville
1s4: Lake Shore, Ohio & Mississippi
| ordinary, New York, Pennsylvania & Ohio
first mortgage, Erie seconds, Illinois Central
| Pennsylvania and Reading, EACH Erie
ordinary, 1873; st. Paul common, Il2; New
York, Ontario Il Western. "a Central Pacific
shares, Denver & Rio Grande common North
ern Pacific, Wabash ordinary and Next
| can Central mortgage, l2 each. Increases
| Norfolk " Western common and Northern
| Pacific mortgage each. Canadian Railway
| securities were quiet. Grand Trunk first
and third preferred lost , each ON the week
| OF the miscellaneous securities. Anglo
| American cable shares advanced 81, while
Bells Asbestos lost J.; Eastmans a. and
PRIMITIVE Nitrats Rio tintos and New York
| and Frank Jones brewerles - each.
PARIS May 10--1he boerse was less ex.
cited yesterday, but large amounts of Span
| lsh and Portuguese securities changed hands
Dlstrust IN regard to the position of several
| Dig DDdDcldl houses StIll affect business
| The weeks falls include: Three per cent
| rentes, ia francs; Credit Foncer Alp francs
| Rio 1intos, franc French cables SIP francs
on the Anglo American gaining its suit
! Transatlantic steamship Shares declined
3 francs under report of insufficient amortis-
| itation of the fleet
BERLIN, May 10.-On the boerse YESTERDAY
| there were symptoms of improvement to-
ward the close, partly due to S. Petersburg
houses buying Russian securities The days
advances in foreign securities averaged -
following: Prussian tours, 1850: Deutsch
bank, 153; Mexican skies, $3.50; short ex-
change on London, 20+5; long exchange on
| London, 1928; private discount, 27s.
FRANKFORT May 10-The recent depres-
| sion on the boerse is animating. Prices
| closed firm yesterday. The closing Quota
| tions Italians, 9? .10 Spanish. IA: Russian,
$3.50; short exchange on London, 20 46; pri-
| Vate discount. g.