St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1892-08-29
FOREIGN FINANCES.
Higher Prices for Silver Cause a
Recovery in the Shares of
Eastern Banks.
American Railway Securities Re-
cover Losses on the Collapse of
the Buffalo Strike.

LONDON, aug ZS.-AltGF SllSnG
hardening at the beginning of the week,
discount again became weak. Prices
are unchanged, but the absence of de-
mand makes quotations almost nomi-
nal. The hope of a revival lies in the
expectation that the new Austrian loan
to provide for the currency reforms will
be issued shortly. The issue will prob
able cause Withdrawals of gold from the
Bank of England, and thus greatly
strengthen the money market. Other
wise, owing to the general depression
in trade, little change is expected. even
during the active months of October
and November.
Silver has risen g, partly due to the
refusal of the India council OIL Wednes-
day to allot bills at the low prices Of
fered. The steadier tone of silver led to
a recovery of shares in Eastern banks.
Chartered Mercantile Bank of India rose
points. and Hong Kong and Shanghai
bank points. India stocks were strong
er. Rupee paper did not participate in
the rise in silver, but dropped 1 point.
British funds at the beginning of the
week showed strong tendency to adj
vance, but afterward weakened. The
weakness was attributed to the uneasy
feeling arising from the Afghan trou-
bles and the signs Of distress In trade
quarters.
The colonial market is steady. but
foreign government securities were in
general weaker, European bonds
generally declined owing to the spread
of cholera. Hungarian and Spanish
bonds falling 81. Brazilian securities
showed tendency to advance owing to
reports that the recent severe heat had
injured the beet crops on the continent
The investment business of tine week was
chiefly directed to British railway secur-
tiles, owing to the good traffic returns,
and there was general rise i'll this de-
partment of Is to l. Brighton, the only
exception, fell ~ owing to fears that
the cholera epidemic would greatly re-
duce the roads continental traffic.
American railway securities were
strong till Tuesday. Then reaction
cred, owing to the collapse of the Buff
falo strike. These fluctuations. how
ever. left the weeks closing prices prac-
tically unchanged from those of the pre-
ceding week. Atchison and Wabash
were chiefly favored, purchases of the
latter being attributed to a desire to Sc
cure shares for voting purposes. Vara-
tiOnS for the week in prices of Ameri-
can railway securities include the fol-
lowing:
Increases-Atchison shares, Wabash
preferred and Lake Shore, 1 each;
Union Pacific shares, 81; AtchiSon in
comes, Northern Pacific and Wabash
mortgage, q each; Erie seconds, q; st.
Paul common, %.
Decreases-LOuisville & Nashville,
"a: Illinois Central n
Canadian railway securities were
again favored, and Canadian Pacific adj
vanced 4 for the week, while Grand
Trunk first and second preferences both
rose l, and Grand Trunk third preferred
q. Buenos Ayres and Great Southern
declined points for the week.
PARIS, Aug. 2S.-On the bOurse, in
ternational stocks the past week, after
showing some improvement, suffered a
week no noteworthy change in prices
as compared with the closing quota
tons OF the preceding week. The
spread of cholera adversely Influenced
the market.
BERLIN, Aug. 2S.-On the boerse dur
ing the past week imperial and PruS-
sian loans declined OH the expectation
of the issue before long of new heavy
imperial and Prussian loans in connec-
ton with military projects. Foreign
securities were quiet, with the eXcep-
ton of slight decline in Mexicans, due
to an uneasy feeling in regard to the
position of silver. Iron and coal shares
were in good demand. fact giving
ground for the hope that the period Of
depression has passed. The final quo
tations include the following: Prussian
tours, 1925; Mexican skies, $3.50:
Deutsche bank, 1915: roubles, 2O4. so:
short exchange on London. 20.4O15; long
exchange on London, 2O.3515; private
discount, 11s.
FRANKFORT, Aug. 2S.-Dnring the
part week little business was transacted
on the boerse. The final quotations in
clude the following: Hungarian gold
rente, 1890; Austrian credit. 266; Aus
TRAN silver rente, 1925; short exchange
on London, 20. 40; private discount, *