St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1892-05-16
FOREIGN FINANCES.
Condition Of Money Across the
Br1ny Deep.

LONDON, May 15.-Discount was not in de-
| mand during the past week. The last quo
tations were S4c for three monthsand Ice for
| short. The plethora of money is such that
! large supplies remain unemployed. The DO
sItion of the Bank of England grows daily
| stronger. Gold accumulates, and there is no
| sign of coming drain from any quarter.
| The leading topic among bankers is an I'M
| pending amalgamation movement. Lloyd s
| bank is to absorb the old firm Of Twining d
Co.. and also the Bristol of West England
| bank, while the Alliance bank is negotiating
| for union with another bank. The motive
| for the arrangement in each case is to con-
centrate business to the advantage of the
shareholders.
The silver market was firm last week,
solely owing to the prospect of what may be
the outcome of the international confer
ence. Yesterdays quotation of 4G$sd for
Dor silver showed an advance of 12d on the
week, while Mexican dollars were quoted at
39Ad. Rupee paper advanced 11a OH the
week.
On the stock exchange the week was
fairly active one. and there was a decidedly
strong tone. The abundance of money CON
tinues 10 stimulate the demand for high
class investment stocks, but speculation is
still fiat. The recuperation of gen.
eral business, though slow extends
to second snd third rate invest
ment stocks. Operators look for an early
revival of speculative business. British funds
are in favor, and improved "a on the week.
market the closing of some bear accounts,
combined with buying on foreign bourses,
gave general impetus, Spanish advanced
2Ss, Argentine Nationals, 9; Mexican 6s ia !;
Brazilian, Il2 Gillian. l1s. English railways
were firm during the week, and show an av-
erage gain of "A to 81. American railroad Sc
curities are still disappointingly quiet. When
prices are put up here New York refuses to
support the LEAD; hence movements are IT.
regular, tending to flatness.
The weeks variations include the follow
ing: Increases-Denver preferred. "; L. d
N, 1: n. Y. P. & o.. "a Central Pacific, New
York, Ontario d Western and Mexican Gen.
trail, l2 each.
Decreases-Nortnern Pacific. pa. Union
PACING: gig; Atchison and Lake Shore each;
Norfolk preferred. "a; o. d NJ, Wabash pre-
ferred and NJ, X. d r.. l2 each.
Canadian securities were weak: Grand
Trunk firsts and second preference dropped
ia, and Grand Trunk third preference 3I9.
Under heavy sales the securities of the
Mexican railroad dropped considerably,
tirsts declining ia, seconds 2l2 ana ordi-
nary l.
Among the miscellaneous securities Peru
Wan debentures lost2A owing to adverse re-
ports concerning tie concession for the
Cereiropasca mines. SueZ Canal shares lost
y on the decision that bulk petroleum VS.
sells Will be permitted 10 go through the
canal Among mining securities Rio 1intos
declined ss. Bank. brewery and trust Sc
curities were rather finn
BERLIN, May l3.--On the DOeTSe during the
past week business was quiet and prices
generally were firm. Russian securities were
notably stronger yesterday ON report that
Count Schouvalof will replace M. dc
Gers as Russian minister of foreign
affairs. Industrial and mine shares
were dull and irregular. The final
quotations include: Prussian tours, los. 20;
Deutsche bank, 160. %: Mexican SKIES, $3.50;
Bochumer. lis: Harpener, 142; roubles,
215. 10; private discount, 1$s; short exchange
on London. 20.4l long exchange on London.
20 SO.
FRANKFORT. May 15.-On the bourse during
the week business was dull, except in for
eign securities. which closed slightly higher
on the week. The final quotations included:
Hungarian gold rente. % 30; Portuguese,
IS so: Spanish. 62.69; Italian, o.: Austrian
silver rente, 1870; short exchange on Lon
don, 20.42 private discount, 1sa.
PARIS, May I5.-On the boerse prices were
firm during the week and business was act
i've. Three per cent rentes advanced 95c for
the week. Credit Foncer shores 3S4f. and Rio
Tintos If Panama canal shares are quoted
3Af better, nobody knows why as. the COM
pany has gone TO hopeless ruin. Suez canal
shares lost 16f on the week.