St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1893-01-02
ON THE BOURSES.
Condition of Finances Across the
Atlantic

LONDON, Jan. 1.-The low value of money
which was the distinguishing characteristic
of the year was continued to the end of tbe
year. After Wednesday of last week dis
count rates advanced l2@1 per cent but
there was nothing like the stringency usual
al the end OF the year, and the distribution OF
consols dividends probably will loosen the
abundance of money. Apparently. DURING
the week past. less apprehension was fell
here with regard to the situation in America
Inc silver market became more com
posed and had the stimulus of q demand
for remittance for the East. Business was
mostly spot, pending the reassembling of the
Herschell committee, the few forward trans
actions being at ls under the spot quotation
On the stock exchange the settlement inst
past showed that operators continue TO re-
duce their speculative engagements. owing
10 the unsettled state of the market French
buying OF consols owing to the distrust of
rentes which has prevailed since the Panama
disclosures, ran the price of consols to the
highest figures of the year. The advance,
which was the chief feature of the week Dast
has restored cOnsols to the esteem in which
French investors held them prior to the
Goschen conversion. Another curious feat
IRE was the comparative irmness of doubt
full securities, like Spanish, Italian
and Russian-a circumstance supposed TO be
due 10 holders declining to sell for fear OF
creating panic. There was heavy fall in
Greek securities on rumors spread by French
Journals from which Premier Tricoupis has
Withdrawn the annual subsidies that the
January coupon would be the last to be paid.
The rumors are believed to be uniustified.
Greece is regarded as solvent or only suffer-
ing from the gold famine Fear that
English interests would suffer under the
resignation OF Minister Place had n depress.
ing effect upon Argentine railway securities.
whl!e Uruguayans advanced on reports of
increased traffic on the Central Uruguay rail-
road.
In English railways dealings were re-
stricted. On the whole. the settlement was
easy. Some large bear accounts remain open.
but except Is a few instances the Carving.
over rates are not onerouS
In American railroads rates ranged steady.
Although business was limited the tendency
OF prices was upward. with the exception OF
Northern Pacific, which was depressed.
Reading was depressed at first, but rallied
Sharply on hopes OF dividend to influence
the rumored new deal with finance COM
pany. There was far amount of buying of
Central Pacific and Milwaukee, and there
was a good demand for Grand Trunk of
Canada. The weeks variations in the prices
following:
Increases-Denver & Rio Grande preferred.
Louisville Nashville ordinary and Ohio d
Mississippi, ~ each; Lake Shore. |: Atcbi-
son, mortgage, New York. Pennsylvania q
Ohio, Norfolk IL Western. Union Pacific and
Wabash mortgage, "a each AtchisOn shares.
Denver q Rio Grande common, Missouri,
Kansas Il Texas. and New York. Ontario q
western, l2 each; Grand Trunk of Canada
first preference, ga; do second preference,
ZIP; do third preference and guaranteed. pa
do consoi. y; Northern Pacific declined p.
PARIS, JAN l.-Prices on the bourse during
the week past fluctuated according to the
political situation. Banks and insurance
companies are reported to be selling rentes
heavily. The settlement of the large option
account Will, il is expected, result in q fur
tier wave OF depression. In the face Of the
strong attack on the Credit Foncier. the di.
rectors of that institution have issued a eirt
cular warming shareholders not to be fright.
ened INTO selling their shares on the un-
founded reports of spectators. 1t Is stated
that the Credit Foncier will prosecute one of
the chief directors.
On Saturday the market became very I'M
settled, attention being directed chiefly TO
rentes. Heavy purchases by bears and option
dealers caused temporary rise. The de-
clines of the week include: Greek securities
is points. Credit Foncier, II francs; Suez
canal ~ francs
week business was quiet. In the face of the
french crisis the cheerful Vienna reports
failed to improve prices. The cholera re.
ports also tended the cause of depression,
especially in shipping shares. although free.
~ met with no sale. With the present po-
litieal and taxation prospects in Ger
many, operators see no probable
lty or an improvement in the
market. The announcement that the
output in Westphalia would have to be con-
siderably reduced, weakened coal and iron
shares during the week. The Krupp- Grusch
combination will, it is expected. have an ad-
verse effect upon the Bochumer verein The
week changes were slight. The final quo
tations include: Prussian fours, 1C6.7O; Rug
sian. 96; Deutsche bank, 152 so; Bochumer
u.s.; Harpener, 119; private discount, 8: short
exchange OH London, 1924; long do, 2O.26.
Greek securities closed points lower.
FRANKFORT, Jan. 1.-The boerse was AMI
mated during the week, prices closing firmer.
The final quotations include: Spanish tours,
624O; Russians, 90. 60; Austrian credit, 264;
short exchange on London, 81 .33; private
discount 27A