St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1892-12-19
FOREIGN FINANCES.
Condition of Money at the Enro-
DeaD CenterS.

LONDON. Dec. 1s.-The condition of tn
money market manifested during the week
past is almost unprecedented at this time of
the year. Discount rates for three months
bills werethe most quoted at any time in De.
cember since 1876 The weeks final dis
count quotations were ia for three months
and l for short. Bankers find difficulty in
employing money, the ease of which here is
largely due the fact that American gold ex-
ports are supplying European demands
which otherwise would have been made OH
London
There was no activity in business on the
stock exchange last week, and general
downward tendency was manifest Uncer-
tainty with regard to the future of silver had
depressing effect in several directions.
The silver market was an entirely cash mar
ket. Supplies offered for forward delivery
were disposed of only at great reductions.
but only for Immediate delivery. Pref
bills and other forms Of -rem niraes
for forward delivery. British funds were a
trifie higher. India loans were lower in SYM
pathy with silver. International funds were
quiet and the changes were only fractional.
Argentine securities rose slightly in sympa-
thy with the change in the gold premium.
The new Gillian loan rose to ga premium.
The feature of the market was a steady de-
mand for Transvaal IS. which closed Up
higher making an increase OF 1Ul2 since
July, when the loan was issued at 90
A steady inquiry by Dutch investors is largely
RESPONSIBLE for the rise.
English railway securities were Irregular
with declining tendency. due to unfavor-
able traffic returns. In American railroads
there was an early all-round Decline in SYM
pathy with the movement in New York, the
inclination to sell there meeting with a re-
sponsive feeling here. The weeks variations
i'll the prices of American railroad securities
include the following:
Observation-Disclosures & Rio Grande pre-
ferred and Northern Pacific preferred, ia
each; Atchison, Topeka q Santa Fe mort
gage, 1l2; Louisville d Nashville. IA; Atch-
lson, Topeka 4 Santa Fe shares and Norfolk
d Western preferred, "a eachS Denver & Rio
Grande common and Wabash preferred, 70
each. Increases-Lake Shore, "a /; Union Pa
citic. l2.
Canadian securities shared in the almost
general relapse, Grand Trunk railway, after
good inquiry. due to improved traffic pros
poets, weakened and declined, first prefer
ence IA lower, second preference l lower
and third preference W lower.
Mexican railway was i'll good favor owing
TO satisfactory traffic returns; seconds closed
1l2 Argentine railways were stronger,
Buenos fAyres and Rosario closing
one point higher, and Central Argentine p
higher. Central Uruguay railway advanced
=. Bank and brewery shares were much
tirmer. Chartered Mercantile Bank of In
Ola rose to on the satisfactory allotment of
shares of the new company. Guinness
Brewery closed 10 higher.
PARIS Dec. 1S.-Business on the bourse
was unsettled during the past week. gen
eral rise greeted NJ Rouvier's return to
office, but his subeequent and sudden re-
signing of the finance portfolio caused a
heavy decline in rentes. until NJ. Tirard was
announced as his successor, when all up
ward movement again set in. International
funds were less affected. but their tendency
was downward. Bank of France shares re-
coded 20 points owing to reports that the eX-
tension of the banks privileges would be de-
ferred. Credit Foncier was severely attacked
on the resignation of M. Rouvier. but after
ward partly recovered, closing. however,
with a decline of from 10 to IS francs. Rio
Tintos closed 10 points lower.
BERLIN Dec. 18.-There was slight re-
| vival in business Oh the boerse during the
past week. International funds were firmer,
but home funds still show slight decline
American bonds have risen, and business
therein appears likely to undergo sub
stantial expansion in the course of
time. Industrial shares are declining
owing to the staguant condition of trade
throughout the country. The final quota
tons include: PruSsion IS, 105. rs; Hunga rian
gold rentes, 96.10; Mexican IS, rs. 90; Aus
TRAN credit 160. 10; Bochumer, 11S; Harpener.
122; private discount 3; short exchange on
London, 20 30.
FRANKFORT, Dec 18.-On the boerse dur.
ing the last week business was quiet and
prices were firm. especially in the case of in.
ternational funds. The final quotations in.
clude: hungarian gold rentes, rs: Mexican,
6s q Austrian, 266; short exchange on Lon
don, &c. 81: private discount, GAG.