St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1892-04-04
FOREIGN FINANCES.
Condition of Money Markets at
European Centcrs.

LONDON, April 3.-DIscount during the past
week was quoted at lI2 for three months and
IA for short. There was no demand. Money
was rather tighter during the closing days OF
March. Considerable amounts were borrowed
from The Bank of England on ten-day loans
10 meet quarterly requirements, but the de-
maDd ceased on Wednesday. This weeks
quarterly dividends will be paid out adding
10 the plethora. The Bank of England
reserve is now higher than at previous pc
RODS when the rate was pence, and re-
duction 10 that figure Is expected on Thurs
day. Fluctuations in silver were tue feature
OF The week. which for the price OF the metal
fell 10 SOD, became fraction under Is Sd and
on the recovery OF silver 10 40d. Ropes
were quoted at Is 3Ad. Indian trade be-
came demoralized under the rapid move
ments, and The market for shares of Indian
banks was thrown into pduicky condition.
Shares of the Chartered Metoanlile Bank OF
India, the par price OF which is % have
fallen TO I've.
The Hong Kong and Shanghai bank shares
which were quoted last year at 20. were. at
one time, offered at 81, although they alter
ward recovered 10 A The chartered Indian,
Australia and China bank shares dropped
points and Agra bank shares 5 points. Con-
fidence was somewhat restored after the rise
III metal, but there still remained uneasness
and paralysis i'll trade. The stock exchange
departments generally suffered under the
silver influence, the only exception 10 the
downward tendency being in British railway
securities. owing 10 fine weather giving
promise of increased traffic, there was gen
eral gain of from " to in this department.
Rupee paper rallied Ice with silver. Amer
lean railway securities were GfCless. The
lasstuGe OF preceding weeks became more
marked the past week. Brokers were in de-
spair, and operators ceased to exchange pre-
dictionS of the time when revival will set
in. Dealings were limited TO few cautious
investments The securities thrown OIL the
market by the continuous small flow OF pro-
vincial selling orders were readily absorbed
by American buyers.
Variations for the week in prices OF Amer
Jean railway securities included the follow
ing decreases: Atchison, ga !; Wabash pre-
ferred, Lake Shore and Erie otdinarv2 "a each;
Atchison incomes and Union Pacific each:
Wabash debentures, Louisville Il Nashville
3$4 EACH D. & II. G. preferred, l., Central
Pacific, d. d Il. G. common Mexican Cen
trial. NJ. x. & T., N Y. Ont. Il Western. y.
Y. P. Il o. first mortgage, Norfolk d West
ern, Northern Pacific and 0. Il NJ, each;
Illinois Central, 2: st. Paul common. 1Is
dams were weak Grand Trunk second pref
erence lost 3, and The first and third prefer
ences each. Mexican railway securities
shared in the silver changes At the close
Saturday frsts and seconds both showed an
advanced of las for the week.
Among the miscellaneous securities. East
mans and Gilmore copper each gained a On
the week, and Rio Tintos Is.
PARIS April 3.-EaIly IN the week prIces
on the bCurse were unsteady and the market
was notably deFIesseu, partly ewIpg 10 ne
dynamite scare but later a recovery set in
was week s Use III per cent Ienies OF sc.
and III Rio Tinto Of l9, while Credit FCucjer
lost IF Panama canal shares were quoted
at IS the lowest ever recorded for this stock
which is now becoming simply an object Of
historic curiosity.