St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1893-01-16
FOREIGN FINANCES.
Condition of Money at the Euro
pean Centers.

pean Centers.
LONDON, Jan. Is. - Discount rates
stiffened during the past week, being
quoted at Il for three months and for
short. Gold was in steady demand for
continental countries, especially
France, where banks are increasing
their reserves by calling in gold from
the Bank of England. With the pros
pect of an increased demand for
Australia, where the currency loans
will soon be issued, rates are likely to
continue to harden.
In the stock exchange during the
week business was fairly active, and
values generally increased. Sound in
veStment securities continued to be in
good demand. In spite of the rise in
money, British funds and corporation
loans were higher. Rupee paper rose ~.
Colonial issues receded owing to the
prospect of fresh Australian loan. The
market for foreign securities was in a
feverish state. There were heavy sales
of Spanish, but the ground lost
was afterWard recovered, leaving
a loss for the week OF one-half.
French rates were favorably Influenced
by the reconstruction of the French cab
met and advanced ID. Other European
securities also improved. Argentine
loan of 1856 and funding loan closed 3
higher owing 10 the collapse of The Cor
rientes revolt. Other South Americans
slightly improved. English railways
had the favorable week, and most of
these securities advanced. Brighton.
after deal of fluctuation, closed 21S
higher, and Northeastern 2 higher. In
the American railway department there
was lively all-rOund advance. Ii the
New York prices are maintained, the
upward movement will become very
pronounced, as the market just now is
easily Influenced to make purchases,
the supply of stock here being
unusually limited. Variations for the
week In prices include the following in
creases: Atchison mortgage, 8; Atchi-
son shares, 2$4; Lake Shore, ~; Louis
vile d Nashville, q; Northern Pacific
preferred and Union Pacific "a each;
Ohio d Mississippi, ~; Wabash pre-
ferred. n; Denver Sc Rio Grande
preferred, Missouri, Kansas d Texas
and Wabash Mortgage. each; Denver
u Rio Grande common, New York, On
tario q Western; New York, Pennsyl-
vania IL Ohio, and Norfolk & Western
preferred, q each: Central Pacific, y.
There was considerable selling of Grand
Trunk of Canada, owing to bad traffic
returns; first and sSt cJnd preference,
and guaranteed, declined % each. Ar
gentine railways were unsettled. Bue-
nos Ayres Great Southern closed high
er, while Central Argentine closed 3
lower and Buenos Ayres and Rosario
lower.
PARIS. Jan. 15.-The bourse was ex-
cited at the beginning of the week, but
oft rH hn0on1n a w hat Stna1inr
International stocks generally advanced.
The decision of the Bank of France not
to buy gold is important, as indicating
the existence of general distrust in the
French financial world. The bank note
issue has increased 100000 francs since
the middle OF November, due TO large
demands made by credit and other
financial institutions. which are
strengthening their position in view of
a possible political and financial cata-
clysm. The decline in Credit Fioncier
appears to have been arrested. At the
close Credit Floncier was quoted nearly
80 francs higher. Suez canal closed 4
francs higher, the rise being due to in
creased traffic. Rio Tinto closed francs
lower.
BERLIN. Jan. 15.-Prices on the
bourse during the past week were
SLeduitT. DOlucSllC lulluS are Blduudlly
rising, but international funds show
little movement. Bank shares are firm.
The final quotations include: Hun
garian gold rente, $3.50; Austrian
credit, l72,5O; Deutsche bank, l59;
Bochumer, III; harpener, 1876; private
discount, l@s; short exchange OH Lon
don. 2O.35; long exchange on London,
20.2S4.
FRANKFo t. Jan. 15.-On the bourse
during the week prices were firm. Bust
ness international FUNDS was restricted
and quotations show little changes.
Austrian credit CLOSED at 26S, short eX-
change on LOnL on at 20 So and private
discount at 2
1t Is announced that the Reading
Railroad company has contracted loan
of S6,000.000 with Speyer q Co., nc ing
lOr u LA oil 8, Indicate.