St. Paul daily globe., 1891-06-29
FOREIGN FINANCES.
Condition of Money at the Eu-
FOpean Centers.

LONDON, June 2S.-MOney was abundant
during the week and there was no demand
for discount, which was quoted at II2Q01s4
The stock exchange continues lethargic
Apart from the steady current of investment
buying of high class stocks nothing is doing
Dealers concur in the opinion that specula-
tive business is at its lowest ebb Never be-
fore has such prolonged period of lnaction
been experienced. The dullness is partly
attributed to the protracted settlement of The
financial troubles of Barring Brothers, Muri-
etas and others. Hitherto such embarass-
ments on attaining crisis have ended in
sharp collapse. After the climax of panic,
with rapid fall oil values, the public has
begun to buy, tempted by low prices, specu-
latlon has been resumed, and business has
soon recuperated. The new system of max
ing series of arrangements prolonging
liquidation has substituted slow and pro-
longed dwindling of prices instead of sud-
den drop. Dealers now have no hope of a
recovery before the end of the holiday sea-
son. The feature of the week was the re-
lapse in English railways on adverse rumors
in regard to the working condition of GER
tain lines. Chatham "a stock de-
clined 3, Great Eastern 31s, Southeast
ern 312, and others an average of
IL. In foreigners Brazilian was bought
to some extent and rose Ia; Spanish rose S8 I;
Chilian relapsed "a. Stagnation was espe-
cially noticeable in American railroads. No
department SO disappoints spectators. With
no signs of animation here, with an entire
absence of.support from New York, and with
the renewal of gold shipments. the expected
revival appears likely to be long delayed
The weeks variations in prices include the
following decreases: Denver g. Rio Grande
preferred, 3l2; Louisville d Nashville 8;
Northern Pacific preferred, 3; Wabash de-
bentures, 1s4; Union Pacific, 112: Norfolk d
Western preferred, IA; Ohio & Mississippi
and Lake Shore. 1 each: Central Pacific.
Denver ordinary and New York, Pennsyluan-
in & Ohio, 81 each. Canadian securities
were stead; Grand Trunk first. second and
third preference rose "a each. Mexican rail-
way was sold 10 some extent, second dropped
2l2 and ordinary 1la. Among miscellaneous
securities, Guinness lost 5, Bells Asbestos
1ls, Eastmans l2, and Primitiva Nitrate "A
Sir John Pender has withdrawn from the
board of the trustees corporation on account
of colleagues suing him for the recovery of
$4,000 invested on his guarantee in a
coal mining company. The trial is expected
to lead to important disclosures.
BERLIN, une 2S.-Business ON the bOerse was
quiet during the week. Mines were specially
weak. The final quotations include: Prus
sian tours, 1850; Deutsche bank, 1875:
Mexican skies, 50; Bochumer, 113; Harpener.
1S5; short exchange ou London, 20 36; long
ditto, 20.27A: private discount 35s. AT a
meeting of the B ichsbank directors the pres
ident declared mat the discount rate could
not be reduced before next week. since the
banks reserve might be weakened by extra
ordinary demands, including the withdrawal
OF government balances.
PARIS. June 2S.-On the Bourse during the
p past week business was dull and prices were
for the week. RIO Tintos lost Ala francs,
Bank OF France 35 francs, Panama Canal 41A
francs and SueZ Canal 27 francs.
FRANKFORT. June 2S.-During the past
week business on the boerse was dull and
prices were weak. Tho final quotations in
clude: Italians, 91.90; Portuguese, 6s. 90; Span.
1sh, 1890; short exchange on London, 2034
private discount, 35s.