St. Paul daily globe., 1891-05-18
FOREIGN FINANCES.
Condition of Money Across tlae
IsPiny Deep.

LONDON, May 17.-Discount was a shade
easier Yesterday being quoted at 494 for three
months and 4A for short High rates are
certain to prevail for several weeks. Gold to
the amount of 9l.500,G GOO, it is expected will
be drawn by the Russian government during
the present week, partly from here and partly
from Paris, with further GRAIN of G2,5OO,-
600 during June. RemittanCeS from the
United States provide only temporary sup
ply OF gold, as part of it will flow back to the
United States i'll the autumn. i'll payment of
grain imports. The Reichsbanks raising
its rate on Friday and the prob
ability that the Bank of France will
raise its rate, are also among the factors for
keeping money dear. The stock exchange
has experienced an exciting week, recurrent
rUmors Of failing firms, threatening bourse
crisis, and rapidly flucIuating values keeping
affairs lively. The relapse after Monday was
general. British funds show fall of $5 for
he week, and rupee paper fall of 5s. In
foreign securities, Portuguese dropped 35s, and
Spanish 3l4. Among South Americans. Ar
gentine treasury fell 7L2, Colombian Z. and
Costa Kican 6l2. In English railway secnr-
tiles, Brighton A stock continues to be raided,
in spite OF official denials OF rumors that the
company must eXpend q large sum to
rebuild bridges; the fall for the
week was 37s. American railroads fiat
under the influence of the monetary
situation. In view of the heavy shipments
of gold from New York the reaction was
trihing. Dealers here state that a quiet
feeling of confidence prevades the market, in
spite of the apparent dullness. An unusual
~ small amount of stock exists mere, and as
soon as the gold drain ceases and Wall street
shows a revival prices will boom. The
weeks variations in the prices of American
railroad securities include the following:
Decreases-Denver q Rio Grande preferred,
2!2; Louisville q Nashville ana Northern Pa
clfic preferred, , each: Norfolk & Western
preferred, New York, Pennsylvania q Ohio
and Northern Pacific mortgage, 1 EACH
New York, Ontario d Western. "a;
Central Pacific, Denver & Rio Grande
common and Mexican Central. I5 each.
Increase-Ohio & Mississippi preferred, 2
Canadian railway securities were depressed.
Grand Trunk first and second preferences
both lost , on the week, and Grand Trunk
guaranteed stock /. The securities of the
Mexican railway were largely sold; firsts and
seconds both show fall of 6I2 for the week,
and ordinary fall of 3l2. Among the mis-
cellaneous securities Rio Tinto declined 1ss
on the week; Angio-AmeTican Telegraph
preferred, 1l2. and Bells Asbestos Primitive
Nitrates and Eastman each.
PARIS, May 17.-On the bourse the settle
ment in the foreign department was proceed
ing yesterday. Contangoes were moderate
Prices have been weak since the beginning
or the prevalent uneasiness. 1t is felt that a
crisis is postponed, not really averted and
this feeling continues to check business.
Decreases for the week include: Three per
cent rentes, 25 centmes; Rio Tintos, 81
francs; BanQue de Paris, IA francs, and Bank
of France, 54 francs. y
BERLIN, May lion the boerse during the
past week business was dull and prices de-
clined. The final quotations include the fol-.
lowing: Prussian As, 1850; Mexican skies,
$40; Deutsche bank, $50; roubles, 1890;
Bochumers, 12S; Harpeners. 161; short ex
change on London. 2o4S; long exchange on
London, 20.25; private discount, 3s4.
FRANKFORT, May T.-The boerse was de-
pressed during the past week. There was q
general decline in foreign securities yeSter-
day, Portuguese and Italian closing per cent
lower on the day. The final quotations in
clude: Italians, $3.50; Russian, $500;
Spanish, 6940: short exchange on London,
39.47; private discount, 3D.