St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1891-02-16
FINANCES.
Condition Of the Money Market
Across the Atlantic.

condition of the Money Market
Across the Atlantic.
LONDON, Feb. 15.-During the week
past there was a fair demand for dis
count. which was quoted at 2I for three
months and 2 for short. Money stiff
ness resulted from a foreign drain OF
gold. Besides two-thirdS of the Bank
OF France bullion loan being returned,
some amounts have been withdrawn
from the Bank of England for shipment
to South America. The stock of gold
would thus have been reduced below a
healthy point, but for a continued influx
OF com from the provinces. AT the same
ulne the Bank of England borrowed a
mllilon from the market. chiefly
win the object of attracting gold
Tor some time has been higher, now
touches a rate at which shipments OF
bullion to London may be expected.
Silver was unsteady throughout the
week, and yesterday there were buyers
at 46d, which quotation marked a fall Of
70 on the week. New York selling
orders remain on hand, and if pressed
further q sharp decline is inevitable.
On the stock exchange business was
stagnant with the tendency dOwnwards.
The public still limited their attention
to high class Investments. The house
was closed yesterday in order to intro
duce an electric light plant. Dealers
were Respondent. There seems to be
no outlook for a revival of business for
weeks to come. In the foreign
department there was a col
lapse in Argentine provincial loans.
Entire Rios railway declined 20 and Ro-
sario municipal bonds 81, while other
Argentine city issues declined from 10
to 20, Gillian bonds dropped pa and
Costa RIcaS 515. GiiatemalanS improved
owing to the receiptO of %reaSsuring cable
grams. The depression in silver
brought about a decliue i'm rupee paper
of "a. British railway securities were
irregular. American railway securities
were uncertain, the balance of move
ments being adverse, The public hold
aloof, only buying high-class bonds.
Inc bulk OF the business done was for
holders. selling in order to reduce COM
mltmentS. The stock offerings from
this side continues to be readily alb
rage houses send large parcels Of
shares to New York. The weeks
variations in prices include the follow
ing: Decentralization Topeka &
Santa Fe income bonds. 81; do shares,
24; Union Pacific 10; Louisville Il
Nashville, "a; Lake Shore, /; Northern
Pacific, |; Denver X Rio Grande pre-
ferred, q; Denver common, Central
Pacific, New York, Ontario ~ Western,
Norfolk Il Western preferred. Ohio IL
Mississippi, Wabash preferred and Mex
lean Central t~irsts, . each. Canadians
were weak; Grand Trunk second pref
erence lost u; do first preferred, !; do
guaranteed. =; Mexican Railway Ordi.
nary fell 24, and do seconds 2. Among
miscellaneous securities, Bellies Ashes
t0s dropped "a, owing to the disap-
pointing dividend. Eastmans lost
"a; Alsophs, owing to notitica-
ton of no dividend OH ordi-
nary, lost 81. HanSards printing
union dropped "a OF the announcement
that it was in difficulty and that its bus
mess had been placed i'm the hands OF a
receiver. Its stock was quoted at 81,
u it is %. The union owns Galign-
ants Messenger and other Anglo-COn-
tinrntal papers, and it reports and
prints the debates in parliament. The
directors state that the affairs will be
arranged, and that the company will
o 90 into liquidation.
PARIS, Feb. 15.-Business on the
bourse during the week was inactive,
but the prices were firm. The weeks
VARIATIONS III prices lICiuue the IOIiOW-
ing: lncreases-Three per cent rentes,
l5c; French cable. 15f. Decreases
Bank of France, 15f; Rio Unto, 4@5c;
Panama canal, Of SOC.
BERLIN, Feb. l5.-On the bOurse dur
ing the past week business was fairly
active. The leading feature was the
new imperial and Prussian loans. the
issue price of each being "a marks 40
%pfennlgs. Yesterday they were quoted
at $3.50. in order to attract small in
vestOrs 200 mark subscriptions are re-
ceiyed. The first patent is due march
3. Abroad coupons are payable i'm Lon
don, Amsterdam and other cities. The
deutschland National bank has de-
clartd a dividend of 8 per cent, which
has had the effect of making the
banks values firm. This bank has
engaged with Kuhn, Loeb u CO., of
New York. To sell $4,000, 600 worth Of
Norfolk q Western railroad gold bonds.
The following quotations include Prus-
sian Is, LOG; Mexican 6s, 93.40; Deutsche
Bank, 1850; BOchumer, 1916; ROubles,
230; short exchange OH London, 2O.36;
long exchange on London, 20.264; pri-
waite discount, 213.
FRANKFORT. Feb. 15.-On the bOurse
during the week business was active,
and prices were firm. The final quota
tons include Italian IS, 94.3O; Russian
So, $3.50; Spanish As. 1880: Austrian
silver rente. 7l.90; short exchange on
London. 1916; private discount, 2X.