St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1892-09-05
FOREIGN
Condition of Finances at Euro.
pean Money Centers.

LONDON. Sept. 4.-Discount. if anything,
was easier last week, but there was no quota
BILE change. The failures of he week did not
appear to affect the market much, but they
served as re minders of the heavy losses suf-
fered in all departments of trade and finance.
There is little likelihood of a revival of bust
ness in the near future. The suspension of
Sir Titus Salt Sons d Co., the Bradford
manufacturers, points TO the stress laid upon
several textile manufacturers, while the fail
ure Of Redburn. Alexander & Co., Australian
and New Zealand merchants and bankers, it
is feared, reflects the condition of other
Eastern houses. The failure of the London
ana general bank has no special significance,
put may retard the restoration of confidence.
The bank was Intimately associated with the
Liberator Building society, which also sus-
ended with total liabilities of 93, 800, 900.
while other building and and companies are
very weak at the beginning of the week
owing to sales in New York, but partly re-
covered Wednesday,, and thereafter was
steady. No appIeciable movement is now
expected I'LL the American elections
are over. On the stock ex~change1the week
was a most inactive one. The spread Of
cholera adversely affected prices. The mar
keI however, manifested a better tone to-
ward the end Of the week. when British
funds became stronger and foreign bonds
hrmer, owing to a deal of buying by CONT
mental bears. Spanish bonds especially
profited thereby, advancing ia, while Hun
garian and Italian bonds advanced a point.
Argentines fell 70, owing TO the rise of the
Buenos Ayres gold premium and the uncer-
tain political outlook in Argentine. British
railway securities relapsed, owing to bad
weather and poor traffic returns. suffering an
average decline of a point.
In american railway securities there were
heavy sales. This department of the market
was extremely depressed, in sympathy with
New York, and, in fact, no advance for any
American security can be recorded. The
southern stocks were especially affected.
Louisville d Nashville and Norfolk & West
ern declined TO the lowest price of The year.
The decreases for the week include: Lake
Shore, 312; Norfolk d Western ordinary PA;
Atkinson shares. PIG; Louisville & Nashville,
ga; Wabash preferred, g; Union Pacific pre-
ferred and New York. Ontario d Western,
ia each; Wabash mortgage, /; Missouri,
Kansas & Texas and Atchison mortgage, "a
each; Denver & Rio Grande common ana
preferred, l2 each.
Grand Trunk. of Canada, fell in sympathy
with the Americans. and also owing to q bad
working statement. Grand Trunk first pref
erences declined W for the week, do second
preferences 49,. and do third preferences and
guaranteed stock each.
Ihe securities OF the Mexican and Vera
Cruz railways both fell "a, and nitrate rail
ways ia.
PARIS, Sept. 4.-On the bourse during the
past week rentes were strong. The upward
movement, which appears likely to con-
US. "oo NhiOIy oQS " ChCop LuOllSS.
The cheapness of money also influ-
enced other international stocks, in
which there was nearly an all round
advance. Spanish bonds advanced two
points. partly owing to a belief that the ne
gotiations for a commercial treaty between
Spain and France will be successful. Italian.
Russian and Hungarian bonds were a point
higher. Rio Tintos, after fiuctuating below
$40, closed at 3.SSS4 on favorable cope
statistics published in London; but it is
doubtful whether the price will be MAIN
tained. Credit Foncier advanced 1894 cents,
and Suez canal z francs. Panamas were 1Ie
francs lower.
BERLIN. Sept. 4.-On the boerse during the
past week prices were generally firmer,
though there was little movement in inter-
national stocks. The final quotations for
the week include: hungarian gold rente.
95: 20: Spanish fours, IS rs; Austrian credit,
16s %: Deutsche bank, 1854 40; Bochumers,
J44; short exchange on London. 90. 39l2 long,
GA; private discount, 1l2.
FRANKFORT, Sept. 4.-Prices were fairly
steady on the boerse the past week. Hun
garian gold rente closed Saturday at % and
Mexican SKIES at 8 10, a fall of nearly 3
points. Other final quotations include: Aus
TRAN credit, 26S: Austrian golo rente, 81. so;
private discount, ia.