St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1892-04-25
FOREIGN FINANCES,
Condition of the Money Market
OH the Continent.

LONDON, April -. There was no change
in discount rates during the past week and
nothing occurred to break the ease of the
money market. With a reserve of over 10
100000 pounds and likelihood of gold com
ing from America only the traditional objee-
ton to frequent changes prevents the Bank
OF England from reducing its rate TO 2 per
cent. The amount of the loan which the
India council contemplates issuing is 1.300, 600
pounds, not 100000 as reported on
Friday. IL is now believed the loan is
for railway purposes the India government
seeming 10 have no relish for doubtful snecu-
latiOn for a rise i'll silver. The mplaints
rife on the stock exchange of an unusual
dearth of business and the cheapness of
money did not tempt speculation. The only
securities fairly firm were those of the high
est class for investment English securities
were depressed. Foreigners were irregular
Spanish and Portuguese were weak. but the
latter rose per cent on more favorable re-
ports of the progress of the conversion.
Venezuelan and Brazilian securities were
weak. the former on account Of the revolu-
ton and the latter on account
of the secession of the state OF
Malta Crosse, which, IL is feared,
Will lead 10 its annexation by Argentine
South American securities generally had a
more hopeful tone, and it was reported that
good offers for parcels of securities held by the
Barings and Murietias had been rejected In
addition there was slight boom in South
ing to snatch profit from the New York ad
vance. prices of American railway securities
were beaten down, owing to Pennsyl-
vaDia cutting and fears of extensive
gold exploration ono.o from New New York
the strength OF Union Pacific, based on the
assertion that Mr.. Gould had withdrawn
from the control of the road. Variations for
the week in prices Of American railway
securities include the following: Increase
shore DnpPp0SpS- pa
ciic, IA; Denver & Rio Grandc first consoli.
dated mortgage, ! New York. Pennsylvania
d Ohio first mortgage. Wabash preferred and
Wabash general mortgage bonds, 1l2 each !;
Erie, |; illinois Central, ia ST. Paul com
mon, l1s; Pennsylvania. /; Reading, "A.
The securities of the Mexican railway dur
ing the week recovered portion of their
fall resulting from reduced dividends Grand
Trunk of Canada suffered on account of co IL
tinued adverse rumors. Grand Trunk con-
soils declined a for the week. and ditto first
preferred IL. II is believed. however. that
a continued increase of receipts VIII dissi
pate these rumors. Copper shares were but
little affected by the negotiations of the
American mines. which are guarded as sug-
gested mainly by the interests OF American
producers, who benefit much more than their
European rivals by restricting the output.
Therefore. the business is REGARDED as too
chimerical for serious discussion.
PARIS, April 24.-The boarse was lethargic
during the past week. Reports of damaged
crops and anticipation OF May day disorders
stopped speculation. Rio Tinto declined %
francs entirely on the London quotation
Nobody believes thar the proposed agree
ment with American mines Will come to any.
thing. The weeks changes were fractional
Credit FOncier advanced aA francs, Portu-
guese 1i2 francs and SueZ Canal 80 francs
BERLIN. April 24.-The boerse was fairly
animated during the past week the plethora
of money promoting business. The final
quotations include the following: Prussian
tours 106 7j Mexican skies, $3.50; Boch-
umer lis; Harpener 40; Roubles, 20765:
private discount, 1s8; Deutsche qank, 1880;
Austrian gold rente. 9l70
FRANKFORT, April 24.-Prices on the boerse
closed firm yesterday after quiet week. The
final quotations include: hungarian go
rente. SO so; Russian tours $3.50; Austrian
silver rente, 1885; short exchange on Lon
don, 20.4.