St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1892-03-14
FOREIGN FINANCES.
Condition of the Money Market
Across the Briny.

LONDON, March 13.-Discount during the
past week was quoted at ia for three montns
and l2 for short. There was no demand.
The position OF the Bank of England con-
tinues To improve through revenue payments.
some arrival of gold. and an absence OF
foreign bullion orders. IL is now estimated
that the AustrO- Hungarian government Will
need & 5000, 900 in gold instead OF III. O0O.OU
as at first estimated to resume specie pay
ments. This will be raised by loan not i'm
plying an immediate drain, the proceeds OF the
loan being invested in English bills The sill
yer market was dull during the week. On the
stock exchange business was rather more
animated, and dealings throughout the week
showed healthier tendency. Better pollt-
ical and financial news from the Argentine
republic helped to give tone TO things gener-
ally At the half yearly Bank of England
meeting on the nth inst. it is expected tfat
proposal will be maoe to transfer the uIl-
realized assets of the Earrings to new trust,
which will raise funds to repay t6.0J0,O0O ad-
vanced by the Bank of England for the llqul-
dation. 1t is hoped that such Il proposal will
be carried, as its adoption would greatly
help to restore business to its normal con-
dition. Argentine Nationals were i'll strong
request and rose 4l2. British railway Secur-
titles were dull, especially those of lines with
in coal strike areas. which fell ll2 for the
week. American railway securities were II
regular. They were largely sold early IN tne
week. becoming firm towards the end. Yes
terday's announcement of New Jerseys leg
isative sanction of the Reading coal com
binatiOn gave fill to dealings OF all kinds
Reading. Lake Shore and New YORK CentraI
securities were especially bought. Tine week
variations in prices of American railway Sc
curities are as follows: IncreaSes-Louisville
Il Nashville and Lake Shore. l each; Denver
& Rio Grande preferred Mexican Central
Missouri, Kansas Il Texas and Norfolk u
Western preferred, l2 eacn; Reading. SO.
Decreases-St Paul common. pa: New York
Central. "a Union Pacific, "a Atchison.
Central Pacific shares New York, Ontario "
Western, Northern Pacific, Ohio d MISSES
sippi o! binary and Wabash, EACH Canadi-
an railway securities were steady Grand
Trunk first preferred advanced 3 for the
week, and do second and third preferred
both ,. Among miscellaneous securities D.
Il p Coates dropped ~ on the announce
ment that there would te no divi-
dend on ordinary Stock Rio Tlnto
gained ~, and Elmore Copper A..
The institute of bankers recently sent Cir
cular to banks inquiring whether they were
in favor of or against Mr.. & oschen S currency
scheme. Out of 100 responses twofifths gave
unqualified support. but the majority de-
clared against the scheme According 10
experts analysis the national balance
sheet for the year ending March
81 will show surplus OF JOe,-
900. Mr.. GOscheD's coming budget
according to completed estimates for the en-
suing fiscal year. will show deficit OF
Z
which the conservative government has ell
joyed has obviously ended.
PARIS March Bon the bOurSe during the
week prices were irregular. A good tendency
at the opening of the week was followed by
movement backward. During The week 3
per cent rentes fell Zoe, Credit Foncier IF
and Bank of France 1jf while Rio Tinto
rose 1tf. In Panama canal securities, what
were originally 50C-franc shares, are now
quoted nominally at 10, the lowest price re-
corded.
BERLIN, March b. - Generally speaking,
business on the Doerse was fairly active dur
ing the week past and prices were steady.
Home funds. however. were weak. Bank.
iron, coal and industrial securities were
fraction better. The closing quotations of
yesterday include: Prussan fours, 1O6-40:
Mexican 6s $3.50; Deulsche bank. 1880;
Bochumers. 1910; Harpeners, 1873; Roubles,
20675 short exchange on London, 20. 40;
long do 20 32l2 private discount, 1l2.
FRANKFORT, March 13.-The past week was
a dull one on the bourse, but except for the
weakness of Spanish and Portuguese bonds,
prices were steady. The final quotations
yesterday include: Hungarian gold rentes.
81; Italian IS. So 10; Portuguese bonds, so;
Spanish As IS. 20; Russian As. 3d. 90: short ex-
change on London, 2040; private discount,