St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1892-08-08
FOREIGN FINANCES.
Condition of Money at European
Trade Centers


LONDON, Aug. 7.-Discount was dull during
the past week at "a for three months, and "
for short. Yesterday the discount rates
touched 1s more in view of the tenders for
treasury bills tomorrow, which will draw
4i,OO0, 0eO from the market: but the general
discount business remains stagnant, with
loads OF money almost unlendable. Some
gold goes to france without reducing the
Bank of England accumulation, and further
supplies are pouring in. The greatest
British railway company, the Northwest
ern. has declared semi-annual divi-
dend of 5a4 per cent. reduc-
This company's dividend is regarded as
fair criterion of the general business of the
country, and the announcement disappoint-
ed the stock exchange. The Great w estern
a under last year. During the past week
every department of the stock exchange was
quiet, and some were absolutely lifeless.
The dealings recorded were less than any
account for the stagnatfon. Among high
class investments rupee paper dropped sS
owing to fall in silver. The India council
tried to support the silver market by refusing
but New York operators showed readiness
to supply more silver than the Eastern banks
could take, and so forced the bar quotation
to the lowest point known, IS 1916.
In the foreign department the chief feat
ure was the buying of Spanish bonds OH a re-
port that the government had placed suffi-
Gent treasury bills to tide them over present
difficulties, the price rising LIS. Greek Sc
curlIles dropped Az and Uruguay 2. the
fall in each case being due to depressing
news concerning the national finances. Eng
lish railway securities were weak; North
western dropped 1888. In the American rail-
road departments dealings showed prepon-
derance OF realizations. The public here
show no disposition to follow the lead of the
occasional speculative spurts in Wall street.
and nothing is likely to Stir the market into
steadier, with an upward tendency. A number
of stocks now admittedly under-valued
will then boom: The weeks changes in
prices include the following: Decreases
Louisville d Nashville, 1; Northern Pacific
and Union Pacific, "a each; Central Pacific
Denver Rio Grande, New York, Pennsyl-
vania Il Ohio. Norfolk d Western, Wabash,
Atchison & Missouri Kansas & Texas EACH
Increases-Erie, l2; Ohio & Mississippi, u.
Canadian securities were dull; Grand Trunk
first and second pr eference fell .. and Grand
Trunk third preference and guaranteed, 1.
Mexican railway f1uctuated under rumor
that pool had been fully settled; the quota
ton advanced 3I2, then relapsed. leaving a
rise for the week of only " on firsts and Sec
onds. Among miscellaneous securities
breweries were weak; Allsopp's gained ss;
Eastman's advanced 1s; Elmore copper
gained So.
PARIS. Aug. Ton the bourse for the past
week fair amount or business was transact
ed. Three per cent rentes show rise for
the week of so confines and Credit Foncier
of II francs. Panama canal rose francs: 90
e.. C.. on the announcement of a fresh
scheme to resume work on the canal. The
promoters pretend that the Credit Foncier
will assist the combination forming the new
company, but the Credit Foucier is known to
have difficulties enough already without as
suming the Panama canal burden.
BERLIN, Aug. 7.-On the boerse during the
firm. The prospect of a commercial entente
between Germany and Russia tends to
strengthen both home and foreign stocks.
The final quotations include: Prussian As,
107 .25; Mexican 6s, $50; Deutsche Bank,
164.40; Bochumer, al; Harpener, ISL; rou-
bles POT 80; short exchange on London,
90. Al: long exchange on London, 90. 36l2;
private discount, IA.
FRANKFORT, Aug. 7.-On the boerse during
the week financial and bank shares were
strong: Other stocks were quiet. The final
quotations include: Hungarian gold rente,
40; Italian, 9l.25; Portuguese. 81: Spanish
as. 63. 70; Australian silver rente 71.75; short
exchange on London, 20.40 private discount,
1ss.