St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1891-10-26
FOREIGN FINANCES.
Condition of the Money Markets
Across the Wafer.

LONDON. Oct. 25.-During the past week
discount was easy and money plentiful, but
without demand, the quotations being PA for
three months and for short. The decline
in rates has revived the demand for export
gold and there is q rumor of remittances
going to America and the continent The
Bank OF England directors apparently attach
no importance TO the demand, seeing that
they have made a further reduction in the
selling price of eagles. A shipment of ESQ.,
600 in gold from Brazil is due here
Nov z which, with 100000 coming
from Australia, promises to keep the market
easy TO meet any probable decline to Amer
lea. The payment yesterday of l,250, 900
pounds in treasury bills added 10 the float
ing supplies. Silver. was weak. The low
money rates lii India restrict the demand for
remittances, and continental inquiry is also
limited: Rupee paper fell l. on the week
Inactivity prevailed on the stock exchange.
There was no marked movement of prices in
any department. American railway secur-
tiles presented the best market throughout
the week. though even these operations
lacked vitality. and initiative. The
dominent tendency to sell is the
most cheering indication of future adj
vance, this being readiness in New York to
take all stock offered. Dividend paying
lines continued to be firmly held, especially
the Vanderbilt lines Toward the end of the
week the renewal of reports that Russia was
about to prohibit the expectation of all
cereals helped to harden prices. In spite of
the sluggish condition of business dealers
are cOiudcilL VI an curry OF The
upward movement Opinions differ, how
ever, as to when it will set III. Variations for
the week i'll prices OF railway securities in
clude the following: Increases-Atchison,
Lake Shore, Wabash debenture. Chesapeake IL
Ohio. Erie seconds and Illinois Central
y each; st. Paul common and PENNSYLVANIA.
a each; New York Central II2 each. De-
creases: Rio Grande preferred, Northern
Pacific preferred and Ohio d Mississippi. /
each; Rio Grande aud Norfolk & Western
preferred, "a each; Louisville q Nashville
Ontario d Western, Union Pacific & Wabash
preferred. l2 each: Canadian Railway securi-
ties were fiat. In foreign government securi-
ties the principal feature of the week was
the selling of Spanish bonds. The financial
situation of Spain is regarded with intense
uneasiness. The Bank of Spain. which has
been trying to obtain a gold loan of
94.l0J, 900 from Paris houses, got the promise
of $4,000, 600, while the loans already procured
from Rothschild and the Banque du paw
Bas, and payable early in 1892, are to be con-
crisis, but the outlook is gloomy The bad
state of Spanish trade, the doubtful opera
tion of the new tariff regulations, increasing
deficits and the depreciation of the national
Spanish bonds which had dropped 2l5. re-
covered under the prospect of an arrange
ment being made, and closed Yesterday at
6ces, week fall of Il2. In South American
Brazil pa, Gillian 1l2, Argentine 2l5:
Mexican railway firm, firsts gained
Ia and seconds a. The copper market was
agitated Rio Tinto fell 1l2 on the week nm
der the reopening of the Anaconda and the
fall in the price of copper from G 30 to e47
per ton. The tendency became rather better
toward the end of the week. though there is
general eXpectance that the price of metal
will settle down at Els. Among miscellane-
Gus securities, Commercial Cable has further
risen 6. while Bells Asbestos has lost IL and
Eastman SO. Melville, Fickus IL Co an
nounce the issue of $4,000 Ej shares of the
Herman Timber Company of Evansville,
Ind
PARIS, Oct 25.-During the past week bust.
ness on the bourse was inactive and prices
were weak There was general tendency to
sell until yesterday, when symptoms of
strengthening of the market appeared The
weeks declines include: Three per cent
rentes, 30 centimes; Credit Foncier, IA francs:
Rio Tinto, 81 francs; Bank of France. o.
francs: Suez Canal 95 francs. The Russian
evening stronger Rio Tinto had risen 2G5
francs and Spanish As 4 per cent above the
official close.
The sale of the Societe des Metaux works
has been postponed till Dec. 2.
BERLIN. Oct. 25.-Although the past week
was quiet one OH the Boerse quotations
were well maintained. Industrial and min
ing securities especially were better sup
ported, owing to the receipt of reports show
ing improvement in the business of Bochum
Union, Koenig and Laura works The clos
ing quotations of Saturday include the fol-
lowing: Prussian As, 10540; Deutsche bank.
1879; Mexican sizes, $50: Harpeners, ls4:
Roubles, 2l3.40; short exchange on London.
26.3!; long do, 20.23A; private discount. 3.
FRANKFoRT, Oct. 25.-Prices were steady
on the bOerse the past week. Italian bonds
closed at $3.50; Portuguese bonds at So rs;
short exchange on London at 20.52 ard pri-
Vate discount at 35s.