St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1893-01-09
ON TIE BOURSES.
Condition Of Money at the Euro
pean Trade Centers.

LONDON, Jan. s. - Discount rates
dropped during the past week to l Il for
three months and "a for short, at which
it is believed they have reached the bot
tom. The supplies in the market ore
abundant, in spite of the repayment OF
oaDs TO the Bank of England. but as the
revenue payment which begin this
month Will sweep about five millions
out of the market, and as a con-
secrable effluX of gold Will probably
take place shortly, the present
rates are not likely 10 change until
general rise sets in. Business on the
Stock exchange during the week eX-
banded somewhat, but the movements
in prices were irregular. The recent
events in France have had diSquieting
effect here. The public is tlmid and
holds aloof from speculative stocks, its
attention being almost solely. directed
to sound investment securities. British
funds were largely bought during the
week. English corporation and colonial (
stocks also benefited. Rupee paper was
dull in sympathy with the weakness OF
silver.
Foreign securities were the chief suf-
ferers during the week. The depression
prevalent in Paris was reflected here,
and there was general decline. Span
ish closed IA lower, French rentes ~
lower, and Italians II lower. The rise
in the BuenoS AyTes gold premium
weakened Argentine securities and
affected other South Americans. Ar
gentine funding loan receded 81, and
a rgentine loan of 1856 fell 219. Brazil
An bonds declined q and Uruguayan
~.
English railway securities were act
i've. with rising tendency. The chief
feature was heavy buying OF Brighton
deferred, which. after long season OF
depression, rose AZ, good dividend
being expected. Northeastern closed 2
higher. the improvement being due 10 q
revival in business.
American railroads wers inactive and
dull. There was bad feeling in the
market over what was termed a stock.
jobbing trick in the announcement of
the dividend on Denver IL Rio Grande
preferred. 1t was supposed that the
dividend was for half-year, and the
announcement caused heavy sales. the
price falling to 34144 at which NewYOrk
house snapped up 5000 shares. When the
announcement came that it was quar-
terly dividend. the price Immediately
rose to 3415. Reading railroad was de-
pressed, owing to increasing fears that
there will be no cash dividend on income
bonds. The weeks variations in the
prices of American railroad securities
include the following: Increases
Union Pacific II, Louisville Il Nash
vile l, Denver d Rio Grande Il. De-
creases-Northern Pacific preferred II,
Norfolk q Western preferred l, Atchi-
son mortgage and Wabash mortgage e
each. Grand Trunk Railway of Canada
averaged 3 lower at the close. Argen- =
tine railways declined heavily, owing
to the rise in the gold premium. Buenos
Ayres Great Southern fell 5, Buenos
Ayres q Rosarice 3, and Central Argen-
tine l Il.
PARIS, Jan. S.-The settl ement just
concluded has been the most disastrous
recorded IN many years. There were
many forced liquidations of "bulP' ac-.
counts. Prices all round declined. The
market appears to be completely de-
moraliZed, and all speculative business
has ceased. The fall in rentes since the
beginning of the Panama canal expos
ures is estimated at over 35,OO0,O00
francs, and the fall in other French
securities at nearly 100000 francs.
On the bourSe during the week all in
ternational funds were lower. Panama
Canal receded another 80 confines,
Credd Financier closed % francs lower,
SueZ Canal 6S francs lower. and Rio
Into francs lower. halfway SecuIl-
ties declined heavily owing to sales
made in order TO provide funds for the
settlement, the fall varying from to so
francs.
BERLIN, Jan. ga more cheerful
tone prevailed on the bOurse at tina
opening of the week, but prices weak
ened later OIL the receipt of unfavOrable
adyices from Paris. A more favorable
feeling was produced yesterday by the
Hungarian conversion operation. Inter-
national funds were firm. The final
quotations include: Prussian tours.
IO7.10; Mexican skies, 1920; Austrian
credit, 17l.25; Deutsche bank, 1910;
Bochumer, 1l3; Harpeners, 123; pri-
vate discount. AZ; short exchange on
London, 2035; long. 20.29.
FRANKFORT, Jan. S.-Prices on the
bourse during the past week were
frmer The final quotations include:
Hungarian gold rentes, 96.40; Mexican
skies. 77.4O; Austrian credit, 267; short
exchange on London, 20.36; private dis
count, 21S.