St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1892-07-18
FOREIGN FINANCES.
Condition Of the Money Mar
ketS Of the EIrODean CeuterS.

LONDON, July 1.-THE inquiry for gold for
Russia and France and the demand con-
nected with the stock exchange settlement
caused temporary hardening of discounts
but there was relapse at the end of the
week to the old rates. There appears little
prospect of q revival. There are no indica-
uons OF an improvement on the stock ex-
S ns genrs nsafly all Departments be,
New York and continental markets and
the disappointing dividend announcements
OF home railways. The betterment of British
funds is chiefly due to government purchases.
Rupee paper declined " during the week
owing to the weakness of silver. Foreign
securities were dull. Spanish recovered two
points and in Argentine there was general
o gold Oh a2d5 III consequence OF the higher
English railways there was general tall on
dividend announcements and poor traffic
returns, Southeastern railways deferred
dropped SIP, the dividend announced
being V per cent under that of 1891. Great
Eastern declined 4s4 the dividend being only
half that of 1891, while Midland fell 25s and
Great Western PA. The losses Of the other
stocks ranged from W to IA per cent Amer
lean railway securities were dull, owing to
deal OF selling before the settlement. At
first it appeared likely that an improvement
would occur in the middle of the week. but
such movement was arrested on a default
Thursday. throwing an amount of
shares on the market and by fears.
which were unrealized, that the Liverpool
cotton failure would result in the unloading
of large blocks or stock. The weakness in
New York also contributed to the heaviEess
OF the market here. In spite of depressing
influences. however. the falls were moder-
ate. Better prices in Wall street promise to
cause an improvement here next week. as at
the close the tendency was generally upward
Variations for the week in prices Of Amerr
can railway securities include the following
decreases: Union Pacific shares and Wabash
mortgage bonds. IA; Atchison income bonds
and Louisville & Nashville. each Norfolk
d Western preferred, "a; Northern Pacific
preferred, Wabash preferred and Lake Shore.
W each.
Considerable sales of Grand Trunk and
Canadian stocks lowered the prices of guar
anteed stock and second and third prefer
ences l2 each. Canadian Pacific shares, on
the other hand, were well supported and lis
higher. Argentine railway securities were
depressed. Centrals decreased two points
for the week, Buenos Ayres & Rosario 5
points and Buenos Ayres 4 Great Southern
points. The week witnessed heavy tall IN
the securities of the Mexican railway but
although it was partly recovered, the closing
prices of Saturday show fall for the week in
or OF n fall IN first st prefsred Of
TransvaaI loan, issued to provide for the
construction of railways i'll the interior, is
quoted at Ala premium.
PARIS. July I.-During the past week q
feeling Of weakness prevailed on the bourse,
but there was better tendency yesterday
The Bank of France has lost 30 francs since
NJ Rouvier's partial surrender 10 the oppo-
nents of the renewal of the banks privilege
bv making the year of terminal 1910 instead
of 1920, as fully fixed. After ALL bank
preference shares became firm. sharp
reaction is probable shortly. Suez canal
shares closed 10 francs lower, owing to con-
tinued large decrease in the traffic, As COM
pared with 1891, the receipts of the first ten
days of July show a decrease of nearly l.O90.-
900 francs. The balance sheet of the French
Cable company reveals critical situation of
the company's affairs. The profits are
microscopical, while the expenses are in
ereasing more rapidly than the receipts
There is little change in international
stocks. Russians have slightly improved,
roubles being quoted at2is.
BERLIN. July i7.-An unfavorabe tendency
prevailed OH the bcurse dnriits the past week.
There was little activity in International
stocks. Russians were better, roubles clos.
ing at 201.25. Spanish dropped 2 points.
Prussians As, closed at 1925: Mexican 6s.
$3.50; Austian credit, 1874. 90: Deutsche bank
los; long exchange Oh London. 20. 34l2; pri-
vate discounts. 1L2. Railway shares were
firm The annual report Of the Berlin cham
Der of commerce. explaining the
necessity of joint commercial action ON
the part Of Western Europe against Russia
and America, declares that the full effects of
the Mckinley law have not yet been felt. and.
after dealing extensively with German
treaties of commerce, pronounces strongly
trade by Germany.
FRANkFoRT, July 17.-On the bourse during
the past week there was little movement in
prices Portuguese securities closed / per
cent better.