St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1892-10-10
FOREIGN FINANCES.
L Hardening Tendency Re.
pOrted I'm Discount Rates.

LONDON, Oct. 9.-Durlng the week past the
presence of numerous bullion buyers in the
market all believed to be operating on the
Austrian governments account prevented
gold from entering the Bank of England,
and caused hardening tendency in discount
rates to manifest itself. The release of the
October dividends has no appreciable effect.
A rumor of the withdrawal of 900 in
gold from the Bank of England for Russia
proved TO be unfounded. Yet the expecta-
ton Of calls for gold for America, Russia and
Egypt still rules the market Tie steady re-
covery of silver is regarded as a reassurlng
sign, and as likely to continue.
The weeks stock exchange record shows
that business again improved. Brokers were
hopeful of inducing investors to enter tbs
markets and broaden dealings. Strictly
speaking, however, the weeks activity was
restricted almost entirely to American and
South American railway securities. British
funds were firm but dull. British railway Sc.
curities were listless and depressed. There
were small movements among foreign bonds,
generally in favor of holders. Brazilians
continued to advance with the improved
tone of exchange. Peruvians have risen
points on the reported settlement between
Chilli and the Peruvian corporation. Chill
ians have also advanced, partly in SYM
patty with Peruvians and partly III anticl-
patton OF new loan. The 1nsurgent
victory in Venezuela had no effect on prices.
The favorable report issued by the Buenos
Ayres railways. together with the Barings
sale of stock, combined to cause advances in
Argentine securities averaging PIP. The next
settlement is eagerly awaited to confirm the
belief that the buying here is in behalf of the
outside public. 1t is now fully expected that
the Austrian currency borrowings will be
effected before January. Russia has def
nitely declined the offers of a French syndi-
cate to take the 9S000000 balance of
lest years e20.0OO,0OO 3 per cent loan.
The recovery in American railroads is at
tributed to more secure feeling in regard
to silver. The market is chiefly supported
nv
public hold aloof. The advances were some
what Irregular, the tendency being to real
ize at higher prices. Variations for the week
in prices of American railway securities in
clude the following:
Increases-Denver & Rio Grande first con
mortgage, 2A; Reading seconds, 2; Lake
Shore, Louisville & Nashville and Union
Pacific shares, ia each; Reading thirds and
Mississippi ordinary aud New York, Pennsyl-
yania d Ohio first mortgage.1 each; Denver &
Rio Grande common and New York, Ontario
& Western, "a each; Atchison, Central Pa
gage bonds, u each. The securities
Of the Grand Trunk of Canada improved
owing to better trafics and the coming
rise ID rates. Grand Trunk first preferences
advanced IVA for the week: second preferred,
Y, and third preferences l. Spectators
con tinued to devote attention to mining Sc
curities In which there was further adj
vance. Commercial cable shares ad
VancedN ~.
The decision of the county council to &C
quire the London tramWays depressed the
shares
The Statist has published an elaborate
analysis, illustrated by diagram, intended to
prove that out Of thirty American joint stock
breweries all but six have been almost entire
~ promoted from two or three quarters,
sometimes in combination, sometimes inde-
pendently. The Satist contends that the
capital is all largely watered and that the
n rp
prices The diagram set forth at glance
shows the same individuals figures in the
boards of different companies, or as promo
tiers, or in other capacities.
PARIS, Oct. 0.-The detite bourse, in spite
of the agitation against it., continues to as
semble as usual. The cabinet discussed the
question yesterday, but came to no decision.
The monthly settlement disclosed a very
large bull account, enabling hackers 10 obtain
per cent for advances. The monthly re-
coipts of the SueZ canal again show large
decrease. The charges of the company keep
wonderfully high. considering the heavy de-
crease in traffic this year. The weeks de-
clines include 40 francs il SueZ canal shares
and 10 francs IN Rio Tlnto shares. Portu-
guese securities were firm. Other changes
were small.
BERLIN, Oct. e-The prospect of military
loan has had a depressing effect on the
market here. Bank shares are still IN q
lethargic condition, the public showing in
creasing hesitation to invest The prospects
of duIlness in business are reported through
out the empire. The closing quotations In
clude; Hungarian gold rente. $50; Mexican
skies, 81; 10 Sagainst $50 last week. Austrian
pener, l54. Private discount 2; long ex-
change on London, 20. 80.
FRANKFORT, Oct 9.-After a quiet week
prices close frmer. The final quotations:
Hungarian gold rente, 1910; Mexican SKIES,
1910; short exchange on London. 20 Sc !;
private discount, 9.