St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1892-05-02
FOREIGN FINANCES.
Condition Of Money i'm the Gem
terS of Europe.


LONDON, May 1.-The reduction in the Bank
of England rate made during the past week
did not affect the money market Bill brokers
did not even meet To consider the reduction.
nor did bankers alter their deposit allow
ances. This is the first time since the con-
version of the consols that the Bank of Eng
land has been so low. There are indications
of return of the market to a more normal
condition. Although the bullion reserve is
larger, the proportion of the reserve
ing the former per cent periods,
probably owing to the fact that other banks
were keeping larger reserves i'll their own
vaults. While without quotable change, dis
count was easier. and probably during next
week will touch for threemOnthe ~ short, W.
The abundance of money made the stock
exchange settlement rates very easy. The
tone of the market was somewhat depressed
at the beginn ming of the week, but greatly i'm
proved toward its close. British railway
securities were dull, but prices were sus-
tanned. Foreign government securities were
mostly firmer MeXicans advanced on re-
ceipt of Berlin orders, aud there was squirt
in Argentines due to decline of the BuenoS
AyreS gold premium to 235
American railway securities were IN
nervous condition at the beginning OF the
week, owing to the American export OF
gold.
Goulds victory is regarded as a not I'M
mixed evil, as 1t averted probable retal1a-
tory rate war. Tue subsequent decline in
Union Pacific is ascrlbed to the selling of
shares acquired for election purposes. 1t is
expected that Gould and his friends will
now become buyers. The market yesterday
was animated, and most prices recovered.
Variations for the week in prices of Amer1-
can railway securities include the following:
Increases-Reading thirds .: Reading
seconds. 1l2; Reading firsts, IL /; Lake Shore.
". Decreases = Atchison incomes and
Wabash mortgage, each; Union Pacific
shares l.: Norfolk d Western preferred and
Northern Pacific, "a each; Atchison and
Ohio & Mississippi ordinary. I2 each. Grand
Trunk, of Canada, LIST and 2nd preferred de-
clined 1G2 each on the week and ditto consols
and guaranteed stock u each.
OF the securities of the Mexican railway,
ordinary declined for the week. Preferred 1.
PARIS, May lon account of the social
ebullition, which keeps buyers cautious,
business on the bOurse was dull during the
past week, but prices were firm. 1t is impOs-
sible to get reliable account of the progress
of the Portuguese conversion, but 1T is be-
lieved TO be proceeding favorably. Suez
Canal shares fiuctuated sharply during the
week and closed with a loss of francs.
Russians advanced points, Portuguese one
half franc and Credit Foncier and Rio Tintos
francs.
BERLIN, MAY lon the bourse during the
week government funds were firm. Owing
to the necessity of investing accumulated
capital, industrial securities were depressed.
The final quotations included: Prusslan
fours 106.70: Deutsche bank, 100. 10;
Bochumer, 119; roubfes. 212.50; long ex-
change ON London, 20.35i2; short exchange
on London, 90. Al: private discount, 1S8.
FRANKFORT. May lon the boerse during
the week. prices were easier. the final
quotations including: Hungarian gold rente,
3d. Prusssian tours, 440: Austrian silver
rente, 70. 70; Austrian gold rente, 9490.