St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1892-01-25
FOREIGN FINANCES.
Condition Of Money In the Cen.
tcrS Of EQsrODe.

LoNDoS, Jan. 24.-Money was abundant
during the past week. There was no demand
for discount, which was quoted at 1l3 for
three months and for short. The payment of
ii 800, 600 in treasury bills on Friday with
the further 9350, 900 payable early this week
and the influx of revenue payments will
flood the market with cash for some time to
come. There is no prospect of a drain OF
gold relieving the plethora. The finance
ministers of Austria aud Hungary, who are
arranging for gold standard as
a basis Of currency. are buying English
paper. with which gold can always be
secured, instead OF drawing bullion. Some
gold will go to Vienna, but there is no sign
that it will be taken in any volume. Bank
managers here state that deposits on which
they pay interest are held at loss, money
being unlendable on any terms. In spite of
the ease of money, deadly state OF inactiv-
lty prevails on the stock exchange. During
the past week there was no feature except
stasnatlon in any department. Among high
class investment securities British funds
gained fraction, while rupee paper lost 1IS
in sympathy with the lower quotation of sill
yer. In the department of foreign securi
ties the chief incident was the fiuctuation
in Portuguese bonds owing to the cri-
sis in Portugal's national finances. The cut
ting OF interest on her foreign debts seems
inevitable. unless the government decide to
sell several of the nations colonial posses
slons. OF which it is thought Great Britain
would be a ready buyer. During the week
the price of Portuguese bonds touched 27Ia
but afterwards recovered to 2Sl2, and the
decline for the week was only 15s. Gillian
bonds declined "a on the week; Mexican, IL {;
Argentine, 2, and Brazilians. 1.
American railway securities were unset
tied. There were sharp fluctuations. Spec
ulators rumors OF coming war with Chill
helpad the downward tendency. but the re-
action which followed had a deeper. more
permanent source in the feeling that the
rise IN progress since the beginning of No
vember has for a time reached its level and
that until speculative spirit revives IN Wall
street the disposition here will be settled
Ihe weeks variations in prices of Ameri-
can railway securities include the following
DecreaseS-NOrfolk IL Western preferred 3 /:
Atchfson, Louisville d Nashville, and Erie
ordinary, Ia each; Wabash debenture and
Union Pacific shares, l each; New York, On
tario Western and Wabash preferred. "a
each; Central Pacific shares, Denver d Rio
Grande preferred, Lake Shore, New York
PENNSYLVANIA & Ohio first mortgage. and
Northern Pacific ~ each; New York Central,
!. Increases: Ohio & Mississippi ordi-
nary, ".
Canadian railway securities were dull:
Grand Trunk consols lost ON the week
b securities of the Mexican railway were
considerably sold, owing to decreased earn
ings, and seconds declined PIP on the week.
tirsts and ordinary p.
Among the miscellaneous securities the j.
q P. Coates Qhread factory stocks were
freely offered, owing to an increase in the
fell 1ss on the week. Allsopps dropped 9
Rio Tintos W and Bells Asbestos "a, while
Commercial Cable gained IA
Delegates of the Scotch oil companies con
tinue TO negotiate with the agent of the
Standard Oil company with regard to the
latter's demand that they reduce their output
and prices, but with small prospect of any
success unless the Scotch companies first sub
nit to the Standards terms. The prices of
the Scotch companies shares are falling rap
| idly.
PARIS, Jan. 14.-OE the bourse during the
| past week business was dull, but prices gem
| orally were firm, owing to the periodic in
vesting of dividend money. Three per
! cent rentes rose 10 centimes and Credit
| Foncier PIE francs, while Rio 1into lost IA
| francs and Panama Canal company are now
| quoted at %
Business houses are awaiting with anxiety
| the operation of the new tariff law In spite
| OF the reports of an agreement with Switzer-
| land the success of the negotiations with
| that republic appears to be beyond
| hope. The Swiss chambers of commerce
unanimously oppose the acceptance of the
| French minimum. There is small chance of
making an arrangement with Belgium, there
being retaliation bill before the Belgian
chamber of representatives. There is smaller
| chance still of reaching an agreement with
| Spain. Reprisals against the French tariff
are, threatened all over the continent exciting
| fears among French traders that protection
has been carried too far.
FRANKFORT. Jan. 24.-Business was dull on
the boerse during the week, especially in
foreign securities. portuguese securities
dropped 5 points during the week. Today's
unofficial closing quotations include: Hun
garian gold rentes 93.35; Italian, 81 10; Aus
TRAN credit. go. II; Russian, $40; Spanish
| 63.60.
BERLIN, Jan. 24.-On the boerse during the
week business was quiet but prices were
firm. Mine shares were weaker, while bank
shares were rather strong. The final quota
tons include the following: Prusslan fours.
106 20; Mexican skies, $3.50; Deutsche bank.
1925; Harpener 145; short exchange on
London, 2037: long do, 3O.2Ss; private dis
count ia. The Kaiser Bazaar company, of
this city, is undergoing liquidation. The
main cause of the failure of the institution,
which was similar to Whitelys in London,
and the Bon Marche in Paris, is that Berlin is
not suitable place for such an establish
ment. The Deutscher Handelstag has de-
cided in favor of the holding of an inlerna.
tional exhibition in Berlin in 1896. The re-
port of the See Handling shows decreased
profits for 1901. and is regarded as proof of
general depression in business.
FRANKFORT, Jan. "a. Business was dull on
the boerse during the week. especially in for
eign securities. Portuguese securities dropped
points during the week.
Today's unofficial closing quotations in
cludes Hungarian gold rentes, g3.35 Italian,
Clio: Austrian credit, 265.12; Russian, 93. 20;
Co., t-l,