The New York herald - 1901-05-06 (4128131) — page 6
LA SEMAINE
A LA BOURSE.
Liquidation Facile—Relèvement des Rentes Francaises—Les Remplois par les Caisses de Retraite—
Un Emprunt Russe.
LES FONDS D'ETAT ETRANGERS.
La Hausse des Fonds Bresiliens et Argentins—Les Fonds Ottomans—Les Mines Sud-Africaines et OuestAfricaines — Valeúrs Diverses — Le Rio Tinto—La Harpener.
Les deux premieres stances d IeI la se- ( maine qui vient de s'ecouler ont été confacrées a la reponse des primes et a la liquidation de fin avril. On a pu constater que le reglement. des primes échangées pour fin avril avait, pu s'opérer sans produire nulle part un deplacement de cours de quelque importance. Le'ferme a realtyser devait correspondre a peu près exactement aux besoins que l'EchelIe avait a combler. La liquidation a été des plus faciles; l'argent abondant valait 4 a 4t en coulisse et a 3 pour cent au parquet. t
Le projet de budget de Sir Michael Hicks-Beach remet a une date indéterminée et éloignée toute mesure d'imposition sur les mines du Transvaal, - ce qui rassure les porteurs de ces titres ; aussi presque toutes les valeurs sud-africaines enregistrent-elles une hausse sensible. Parmi les plus favorisees je dois citer la Robinson Deep, qui, en deux ou trois .jours, s'est élevée de 120fr. a 139fr. Je la considere, d'ailleurs, comme une des meilleures valeurs du Transvaal et pense qu'elle est appelee a dépasser, avant peu, les cours cotes avant la guerre.
La South African Gold Trust continue a témoigner d'une très grande fermeté, avec tendances marquees a la hausse. II en est de même des Goldfields, de la Rand Mines et du groupe Goerz.
La De Beers, toujours très ferme, a fait 884 au plus haut et reste a 872. On croit que le dividende pour le semestre finissant en juin sera de 25 a 30 shillings, au lieu de 20 shillings. II est certain que la compa. gnie imposera au syndicat qui achète sa production, et dont le traité' finit en juillet, des prix beaucoup plus élevés. S'il se. refusait a les payer; la De Beers vendrait ses diamants olle-meme et realiserait pour • son propre compte le benefice du-syndicat, qui était par an d'un million .de livres, ce qui ferait une augmentation de benefice d'une livre par action De Beers.
Le Rio Tinto et les Cuivres.
Le Rio Tinto a été, on peut le dire, très agite pendant toute la semaine ; il a fait 1,524 au plus haut, 1,490 au plus bas, et cloture a 1,463. Mercredi la tendance paraissait bonne, mais il a brusquement flechi au-dessous de 1,500 sur le bruit que la compagnie s'était engagee a diminuer sa production, on avait dit d'abord de 30,000 tonnes; puis cela- s'est" reduit' a 10 pour cent, ou 3,000 tonnes.
L'avant-derniere semaine a eu lieu a Boston l'assemblée generale des Compagnies Boston-Montana et Butte-Boston,, appelee a ratifier la convention qui fait entrer ces deux mines dissidentes dans le syndicat de l'Amalgamated Copper Company.
On a telegraphic de Boston que la majorité des actionnaires a accepté la combinaison proposée.
L'Amalgamated Copper est également . entree en négociations avec les principales mines de cuivre du Japon. auxquelles elle cherche a imposer son influence.
En ce qui concerne les uégociations engagées dans le même but avee la Compagnie de Rio Tinto, elles ne sont pas encore • terminées, mais on continue a assurer, " dans les milieux generalement- bien inforxnes, qu'elles sont en bonne vale: Valeurs Diverses et Bruits de Bourse.
Le jMetropolitairi reste toujours le grand favori de la, cote. La speculation, pas nlus que l'epargne^ne veut c,,tlculck la valeur C, u titre. On "achete, YOllà ce qu'il faut constater, et c'est tout. L'assemblee qui aura lieu dans quelques jours annoncera
La Rente franchise avait fléchi au début de la semaine,-par suite du vote de la grève générale. Elle s'est brusquement relevee vendredi sur Tannonce des propositions du Ministre des finances relatives aux emplois. a faire par les caisses de retraites ouvrieres et sur la nouvefle de la conclusion d'un emprunt russe 4 pour cent qui serait lance par le groupe du Credit Lyonnais.
irobablement un dividende net de 6fr. iour 1'exerciGe-ecoule..Je sais bien qu'il o comprend que neuf mois, mais 6fr. d'inérêt pour 660fr. de capital me semble un ieu maigre.
Actions Brianskf. ^ La nouvelle emission d'actions de cette ociété s'annonce, d'apres les renseigncnentg qui m'ont ete fournis, comme mar'hant très bien. On doit donner un divilende de 40fr. sur les actions anciennes.nn uin prochain. Les travaux executes ou a | jxecuter dans le cours cle la presente anlee font prévoir un dividende meilleur )our l'année prochaine.
Hilkncliaca.
Depuis une huitaine de jours cette vaeur est l'objet d'attaques'qui, je le crois, ■ le sont pas justifiees. L'assemblee gene'ale des actionnaires aura lieu seulement i la fin de ce mois, et il convient d'attenIre'le 'rapport qui lui sera fait.' Ce que je sais, c'est que depuis un an on a servi un lividende trimestriel de 5fr. Un groupement très important s'est forme pour assurer l'expfoltation de la-mine, qui, d'apres es avis les plus autorisés) contient encore les richesses considérables, que de longues annees ne parviendront pas a épuiser. Spies Petroleum.
Les actions de cette société ont flechi a 27fr. sur des ventes d'arbitrage pour LonIres. Le prix du petrole est certainement un peu en diminution ; c'est ce qui a provoque les yentes, ma.is je sais quo l'affaire elle-meme marche parfaitement, que la compagnie sera en mesure de donner un dividende cette annee, et que celui de l'an prochain pourrait bien atteindre 20 pour cent sur le cours actueL - •- Charbonnages Harpener.
La Harpener (mine de charbon en Allemagne), que je vous ai indiqué comme une excellente valeur, se tient l,385fr. ; il na semble pas que ce titre puisse souffrir quant a son dividende de la baisse du charbon pour l'exercice en cours (ler juillet 1900-30 juin 1901). On dit, en effet, qu'il aura it vendu touto sa production de charbon et de coke jusqu'en avril 1902 a un prix lui assurant un benefice d'un peu plus de cinq francs par tonne.
On estimait les benefices de l'exercice courant a environ 18,000,000 marks, soiti environ 22,000,000fr. ; en admettant qu'ils se trouvent un peu diminués par quelquo reduction de-la production dans les derniers mois, ils, permettraient toujours de porter .une diíil:line -de millions de marks aux amortissements et aux reserves et de niaintenir tout" au moirts le 'dividende de 11 pour cent aux 52,000,000 marks (environ 64,000,000fr.) d'actions.
Ce dividende même, soit 82fr. environ, par actions de 600 marks, ou 750fr., approximativement, pourrait être -depasse si la compagnie le N,oulait et .p.orte a 12 pour cent. Ultérieurement, 'il est ,;vrai, avec l'accentuation de b bàisse du charbon, le dividende ne sera sans doute pas indéfipiment maintenu a 11 pour cent, mats, dut-il descendre a 8 pour cent, qu'il serait encore très remunei-ateur au cours ; actuel.
Pour le mois de mars 1901 les bene-. fices de la, Harpener s'élèvent (pour vingt- cinq journees de travail) a 1,505,500 i marks, depassant de 73,800 marks ceux de février 1901 (pour vingt-trois journées), et de 349,000 marks ceux de mars 1900. Depuis le ler juillet 1900 le chiffre total des benefices atteint 13,803,100 marks, soit 5,687,200 marks do plus que pendant la, periode correspondante de l'exercice precedent..
La bourse se preoccupe de la question des grèves. Le résultat du referendum sur la, grève generale des mineurs a eu pour consequence immediate une hausse sur les charbonnages etrangers Harpener, Sosnowice et Sels Gemmes.
Le public cependant continue a échanger des Rentes françaises contre des fonds 'd'Etat étrangers" > en tete desquels fignrent les foiids; bresiliens,- dont je vous ai signalé, depuis bien longtemps, l'excellente'tendanoe; ils ont encore fourni une très brillante étape de hausse cette semaine et cloturent: le 5 pour cenLà 85.20 après 83.20, et le 4 pour cent a 71.60, après 69.10. '•Les declarations faltes ail Congres bresilien sont jugees comme très favorables, et le milreis s'améliore a Rio-de-Janeiro d'une fagon ininterrompue.
Les actions de la Frank Smith Diamond, qui avaient été introduites sur le marche du comptant au cours do 48fr. au mois de mars dernier, seront cotées a ternie a partir du 6 mai; le dernier cours, samedi, etait 68fr. C'est une mine de diamant situéo dans la Colonie du Cap, a environ soixante kilometres de Kimberley, et elle a cette particularité qu'elle produit le plus beau diamant de touto l"'Afrique du Sud. C'est une jeÜno entreprise fort interessante qui peut être appelée a un grand developpement, et il y a lieu de croire qu'elle sera bien accueillie par notre marché.
Mines Ouest-Africaines.
Quoique les cours aient peu varié dans ce compartiment, les affaires traitées ont été considérables. It s'est óchangé de grandes quantités de titres, et le fait que de fortes realisations ont pu etre absorbees facilement est un bon indice pour ce marchó.
J'apprends que la Taquah and Abosso va créer deux filiale,s : 1'une est une com-
.
pagnie subsidiaire a laquelle on cédera la mine Abosso. La compagnie-inere recevra les actions d'apport et la souscription du "working-capital" sera reservee a ses actionnaires, probablement au pair. En outre, un groupe influent offre de con., stituer un syndicat sur le modèle de la Gold Coast Agency. Ce syndicat prospecterait toutes les propriétés ds la Taquah and Abosso, a l'exception des deux mines de ce nom, et creerait des filiales sur ces proprietes en partageant par moi": tie avec la compagnie-mère les actions d'apport et le droit de souscrire le fond de roulement au pair.
La compagnie'Abbontiakoon a tenu son assemblee statuaire cette semaine, et, d'apres les renseignements donnés a cette seance, les travaux anciens existant sur cette mine ont mis a decouvert un reef très large dont on peut attendre un rendement træ superieur a une once par tonne. 'L'Effuenta, qui est: sur la même série de reefs et qui touche la mine Taquah a l'ouest, doit posseder les mêmes filons. - Ces deux valeurs ont légèrement réactionné cette semaine, l'une a £lf de prime, et l'autre a £k de prime, et elles sent intéressantes a ce. cours.
La Fanti Consolidated et la Fanti Corporation ont peu varié, mais elles sont fermement tenues, la premiere a JE3 9-16 de prime, et Ia. seconde a £1 de prime. II en est de même de la Gold Coast Investment a £H.
Je ne puis terminer ma causerie sans vous dire que la constitution d'une puissante banque, sous ia présidence do l'ancion ministre des finances, M. Ilouvier, dont on s'entretient beaucoup, . est un evenement de la plus haute importance. Connaissant depuis de longues annees la haute valeur financiere de M. Rouvier; je considere que l'étahlissement qu'il sera appcle'a diriger ne tardera pas a prendre une des premières places parmi nos promieres banques de credit, qui, a mon avis, constituent une de nos forces nationales. Quelles que soient les combinaisons qui seront adoptees pour creer cette banque, nul doute qu elle ne se presente au public dans les conditions les plus favorables a sa marche en : avant.
L'Exterieure espagnole est, restée calme et.diesitante ; elle est;affaiblie par la diminution de 10 millions eti demi de pesetas relevee dans les_rBcettes .du Tresor pendant le mois de mars et par la reprise du mouvenient ascensionnel du change.
Les Fonds ottomans ont été en hausse marquee ; ils cloturent: la sério D a 25.550 i la série 0 a 28.10 et la Banque Ottomane a 556. II est toujours question de la conversion des douanes, mais~ voici bien des années qu'on en parle. Les journaux allemands ont parlé cette semaine d'un plan de conversion des clettes, Eérie B.O.D. en un titre unifié 4 pour cent. Cela me parait bien peu probable pour le moment.
La semaine s'est terminee en excellente tendance sur la plupart des valeurs sans que les affaires traitees aient été bien importantes. La Bourse, du reste, a fermé a deux heures, comme elle continuera a le ' faire le samedi pendant plusieurs mois. Les Mines Sud-Africaines.
La fermete a predomine sur le march4 des mines sud-africaines pendant les premiers jours de la semaine, qui s'est termi- ; nee par une hausse generate...
On a annoncé que la Chambre des mines, reinstallee a Johannesburg, aurait rappele tous les directeurs des mines a leurs postes. Cette mesure a une importante signification, car elle presage une reprise des travaux sur une grande echelle.
On ecrit de Johannesburg que la mine Geldenhuis Estate est en excellent état et prête a se remettre en marche aussitot que la main-d'ceuvre necessaire sera sur place. Le minerai en vue s'éléverait à- 975,000 tonnes. Les benefices mensuels de la, compagnie s'elevaient a £23,000 en 1898"et a £27,000 en 1899. La situation financiere de la compagnie est telle qu'il est probable qu'elle sera une des premieres a annoncer un dividende.
CHINA.
It is obvious and certain To the looker-on astute
In the concert of the Powers There's a rift wit.hin the loot.
—Harper's Bazaar.
CAPEL COURT.
Interest in Local Stock Extinguished by the All-absorbing Task of Watching Americans.
INTEREST IN THE YANKEE BOOM
The Word "Morganeering" Coined to Describe the Great Financial Bogey Man's Operations.
LONDON, Saturday.—Where is all this going to end ? This is the question everybody has been -asking during the past week. As the wild delirium of Wall Street has brought record-breaking accounts of daily transactions: since the) Stock Exchange removed: to its present quarters, Capel Court has experienced something of the excitement rampant in New York. For the time being Yankees have completely swallowed up the rest of the market. Interest in local stocks has been nearly extinguished; in the all-absorbing task of watching the zigzag fluctuations of Americans.
An instance of this kind was a rémarIê I heard from a. large shareholder of the Leyland Steamship Company, ' who was discussing Mr. Morgan's purchase.
He said : " We can afford to sell now, while the boom is on ; . but wait a few. months and you will see us buy back ou,r sihiips for much less money, when the 'America.n boom is punctured,"
Kaffir Revival.
Of other matters, in connection with the Stock Exchange there is little worth mention. 'T hear that there 'ii>'}i!,:el.ý:so"on to be an attempt to revive interest'in Kaffirs, some strong combinations to this end being now in process of formation. It is even said that Americans are now taking a hand in this section.
Many people who have lost their way, if not their money, in the Jungle will be glad to support the suggestion to, establish in London a West Africa inquiry bureau, to'give information not only about the ramifications of the ever-increasing Jungle mines, but likewise to supplement this by information about the men operating this section. ; jj/ #
The prospect of. qiiotink--CQnsolsAaft the New York Stock Exchange' is not" altogether liked in many quarters, where it is felt that. British dignity might come in for occasional severe handling if Wall Street j took to operating in the Funds. • .
The groups of idlers thronging the sidewalk outside the Exchange talk of nothing but. Pacifies, Milwaukees, Eries, Atchisons or some other Americans. In the adjoining restaurants, where the brokers usually find time to take a leisurely luncheon, it has been a hasty snack gulped down between asking and, answering questions about the latest phafee '' of the Yankee boom. •
A Flyer in Yankees.
Stories of people who have marlo a. fenug, fortune by taking a flyer in Yankees are heard around the clubs and hotels and on the trains and omnibuses. A few weeks of this sort of thing and London would have the speculative fever almost a's badly as New York. Hence old brokers, who have been through similar wild days in the past, shake their heads dubiously, and ask where is it going to end ?
ISimuJtancou.sly with this feverish undercurrent, which, of course, only finds expression in the dry financial columns of the daily papers, is the remarkable prominence given to Mr. Pierpont Morgan in the news of the day.
" Morganeering" is the new word coined by the " Westminster Gazette" to describe the operations of the great American financial bogey man. Every day brings a new list of schemes which Mr. Morgan is said to have in contemplation.. ■ •-
The World Under Tribute.
No enterprise is too vast or'too complicated for him to have his, eye on, and his imaginary intention 01 gobbling up industries wholesale, gathering in Tft'hole fleets, absorbing the railways of entire continents, and generally putting the world at large uinder tribute to ¡New York would suggest the wild imagination of Jules Verne, instead of sober chronicles in London daily iiewspapers,. '
Yet, despite this colossal incursion of : American dollars into European commercial enterprise, the average Britisher is by no means shaken in his' belief in his own superior wisdom and the eventual certainty of his coming ouit winner in the loner run.
THEATRICAL NOTES.
"Les Surprises du Divorce" will be revived at the Gymnase to-night.—Figaro.
Mlle. Alno Ackté to-day, marries Professor Renwall, of Helsingfors. The couple will soon come to Paris.—Figaro.
Mme. Sigrid Arnoldson obtained an enthusiastic reception at Budapest t'n her reappearance at the Grand Theatre Royal as Mignon.
Mme. Yvette Guilbert will make her appearance on Wednesday -next.. at the newly built Petit 'Théâtre'ifÎn ' the boulevard de Clichy.—Prcsse.
M. Harold Bauer announces a recital at the Salle Erard, 13 rue.du Mail, at 9 p.m. to-morrow, with selci tions from Beethoven, Schumann, GliVck, ' Brahms, Schubert-Tausig, Liszt and Chopin.^
Mile. Myriane, of the Ambigu, is suing the managers for breach of contract, and asks 5,000fr. damages, because she was asked to figure in the chorus, whereas her "engagement was for leading parts-L She: is a prize-winner at the Conservatoire. Her salary was fixed at 250fr. per month. Judgment has been reserved.—Liberte. '
The reopening of the Theatre Marigny on Saturday came as a welcome indication of fine weather. A fashionable audience thronged this music ball in the ChampsElysées. "Pari.s-Frou-Frou," the luxuriously staged .and costumed ,royv.e, in which Mlle. Germaine Gallois made her appearance, was voted a great success.—Temps.
One of the impending reforms at the Comedie-Frangaise will be the appointment of a permanent stage-manager. Hitherto "soeietaires" took these duties for a week by turns. According to the "Figaro;" <\1. Prud'hon has been, selected for the post. He has sent in his resignation as an actor. It is likely that compulsory retirement for "societaires'' of twenty years' standing will be insisted upon in future, so that the younger members of the company may have a chance of promotion. " ;
WALL STREET.
Largest Volume of Business Ever Recorded in Securities on Any
Stock Exchange.
WHIRLWIND MOVEMENT.
Limit of Safety Has Been Exceeded, According to the Soundest and Safest Judges.
[BY COMMERCIAL CABLE TO THE HERALD.]
NEW YORK, Sunday.—Wall Street terminated on Saturday the most remarkable week in its history.
The speculation frenzy has now reached the romantic stage, in which there is an outpouring of tales of fabulous wealth won by the changes of fortune's wheel.
The papers are filled with stories of former telephone boys now contributing special capital to the firms by whom they were once employed ; of butlers, waiters, and bootblacks, whose winnings permit their retirement from their former vocations ; chorus girls and variety actresses are setting up carriages and maintaining automobiles.
The members of the Western contingent, who cling to the skirts of the Gates faction and the Moore Brothers faction, are running riot throughout the city , deploring the poverty of friends who die worth such a pittance as three million dollars.
'Mr. James R. Keene is reported to have made $20,000,000 ; Mr. Daniel S. Lamont, $5,000,000; Mr. James J. Hill, from $5,000,000 to $10,000,000: the Moore Brothers, from $10,000,000 to $15,000,000, Mr. John W. Gates, about $5,000,000.
The papers teem with lists of the winnings of men from San Francisco to Portland. and Minneapolis to the Gulf.
Tired of Making Money.
One broker stated to me on Saturday that he was tired of making money. Another is reputed to have cleared $10,000 a day for ten consecutive days, and another $35,000 in Union Pacific in one hour.
The prices of yachts, horses, carriages, etc., are going up.
The extravagance of the women is enormous, and the riotous scenes at cafés and night resorts were never equalled.
Men think they have touched Aladdin's lamp, and that all things are_ changed.
It has grown almost wearisome to tell of new.records in the present remarkable stock movement. Day after day and week after week these have been established, onlyto give way to newer records. With the end not yet in sight, it need only be said that the dealings in securities reprøsented a total of 15,500,000 shares and stock, and $40,694,500 par value of bonds, which is the heaviest volume of business ever recorded) in securities on any Stock Exchange in any single week in the history of the world.
We are money mad. Stories are current which read like the tales from Mackey's "Popular Delusions of Prosperity," and the reckless expenditure that accompanied such speculative crazes as the Mississippi scheme, the South Sea bubble and the tulip mania, when men grew rich over night, coachmen set up carriages, drawers of beer purchased landed estates, former servants outshone their mistresses in wealth of apparel, and men talked of a new era, in which there would be no more poverty, and the old methods of acquiring a competence by frugality rnd economy would give way to new memods through stock speculation.
Wealth Without Effort.
In the train of such stories of wealth earned without effort people fear evil, and say that we have one picture now, but :ihat the reverse will be cast on the screen later. s Wild-cat oil and mining companies arc springing up everywhere, and the allurng advertisements of vast fortunes to be lad for the asking will tempt many to' speculative ventures which must end in lisaster.
Following these, it is feared, will come ;tories of defalcations, breach of trust, iuicides and. a swindling speculative nania, sweeping the country like a prai'ie fire, "penetrating towns and hamlets, md diverting men's attention from their laily business to gambling ventures.
The break on Friday, according to hrewd observers, docs not mark the end If the bull movement. The traders and hungers were still hopeful, and regarded he recessions as a healthy reaction.
It must be aclmiif^d that, measured bv he tremendous uplift in prices, the break t'as not severe.
However, values crumbled away rapidly nd Wall Street had for a time an oppor-
tunity to observe how stocks act when more sellers than buyers are in the market.
Speculators, as' a class, believed at the close of'the week that alter a period of irregularity prices would again advance.
Mr. James R. Keene's Views.
The interval was notable for the excessive volume of trading and the frenzy of the general movement, and also for the violence of the fluctuations. Special issues of Atchison Common stock, for instance, passed through the extreme range of thirty points, closing with a net advance of 11 5-8 on transactions representing more than its entire enormous capitalization.
Mr. James R. Keene came out in a statement in which, after summarizing the favorablo conditions, he said, as a result of I this, prices have appreciated and should appreciate in the future.
Against the views of Mr. Keene are those of the conservative banking element. Their opinions are not favorable to continued advances. If the West and East are alike money-mad and have caught the speculation fever, the bankers believe that tho continued buying and appreciation of prices may continue for a while longer, but the end, they say, is measurably within sight, and a reaction must follow, as certain as night follows day.
It was pointed out that the truest of all indices, the iron trade, has hesitated on the top of a satisfactory period. Prices are'easing off and buyers are hesitating. The textile fabric market is distinctly unfavorable, and no one now attributes the tremendous bank exchanges to business activity (though general business is not bad), but to the tremendous stock speculation.
The money market does not escape attention, and though (with call loans at six to eight per cent.) money will pour in from the'West the cheapness here will simply result in gold exportations. Even now the surplus reserve of the banks is down to the lowest point at this season of the year since 1891 and loans have expanded to $890,000,000, which is fully $100,000,000 greater than ever before at this season. The West may send its money for a time longer, and the market game may continue with it, deferring the true reaction. *
If, however, the recession is postponed until the crop movement sets in and the West requires .its money, bankers fear that the result may prove a national calamity.
The same is true of Union Pacific, in which the entire common stock capitalization changed hands twice over; passing through the extreme range of no less than thirty-eight points for a net advance of fifteen points.
The movement throughout was of the whirlwind variety. If any doubt remained in the minds of sane men that the speculative movement fell anything short of mania, the last vestige of uncertainty must have been swept away with such movements.
Prices cannot keep advancing indefinitely any more than trees can grow to heaven or than-Icarus could fly to the sun. Properly considered, the reaction which occurred on Friday was a manifestation that the public was recovering its mental eouilibrium.
'But of that there is no certainty, for signs are not wanting of a further attempt to hoodwink and delude the unsuspecting into the belief that there is no top to prices.
If the upward limit of the market is bounded by nothing more stable than public 1 redulity, then knavery on one hand and cupidity on the other may carry prices to still higher levels. Such is the opinion of conservative bankers. The limit of safety, however, has been reached and exceeded, according to the soundest and safest judges of Wall Street. What basis there was for improvement (and certainly there was ground for enhancement) is fully represented and more than represented in the present quotations.
The market has ceased to readjust its values to the price for Burlington purchases. Recently it has been adjusting prices to the basis of the non-dividendpaying securities, which have been advanced to above par.
NORTH GERMAN LLOYD BONDS.
The North German Lloyd Steamship I Company's new issue of 4! per cent. mortgage bonds, to the amount of 20,000,000 marks, which were offered for subscription to the public last week in Bremen airel Berlin at lOOt, was oversubscribed for more'than thirty times the amount required. ,
ASSOCIATION FOOTBALL.
Wind-Up Match Between a Paris Team and the Standard Athletic Club Ends in a Draw.
The Association football season in Par is ended, and none too soon, as the wes ther is becoming warm, the ground har and the players were absolutely "playe out."
Towards the end the Standard pressed considerably and four times shots by Woolley and Ferris were capitally stopped by Beau. No change was, however, made in the score, the match resulting in a draw.
The competing teams were: — Paris: Goal. Beau; backs, Bach and Verlet; half-backs, Lambert, Bos and Dupare: forwards, Canelle, Garnier, Pelletier, Huteau and Juery.
Standard Athletic Club : Goal, Attrill; backs. Bone and Roberts; half-backs, Mason, Short and Ellis; forwards, Woolley, Jordan, F. Smith. Ferris and Theobald.
ill is latter fact was shown in the mate between the Standard Athletic Club an an eleven picked from the leading Frenc: clubs, which took place at Becon-les Bruyeres yesterday, and which, after tti usual time and two extra periods of fiftee minutes each,' ended in a draw, two goa having been scored on either side.
During the opening half there was lack of "go," and one asked "Can these è the same Standard boys' who but a wee ago beat Ha,vre on their own ground b six goals to one ? '
The Paris team kicked off, and after fiv minutes' play Pelletier, with a high shoi drew first bloo-di for- the Frenchmei Beau, in the Paris goal, after this had warm time, but he was equal to the OCCi sion, and to his excellent keeping is du the fact that the 'Standard did not have a least half a dozen points to their credit.
Just, before half-t,ini.e Ferris got the ba. into the net for the Britishers, and thu "honors were even."
With the beginning of the second hal the wind rose,, and, veering, was dea a.gainst the Standard, who had also to pla uphill. No sooner was the whistle blowl than the Paris team got hold of the bal and a warm scrimmage in front of goa ended in Bone heading the bail out ani Garnier very cleverly, heading it in. Mor blood for France and much cheering froc the public.
For some little time Attrill was kepi busy, but at length the S.A.C. got th, ball away, and a remarkably fine shot, al most from corner, by Theobald, came lik, a "bolt from the blue," and' before Bea' could get his hands up "goal!" was cried "Two all" appeared on the marking board—a luxury which one has at th< Sta.de Fran9ais ground only.
Play waxed warm, and at times some- what rough,. towards the finish, but ai time call the score was still the same.
As no definite result had been obtained, the referee ordered two more periods of fifteen minutes each to be played. They were played, and with a vengeance— as rough as rough could be. It was "Rugby," not "Association." There was nothing to choose between the teams.
BASEBALL IN THE BOIS.
Saturday's baseball game in the Bois, between the opposing teams from the Latin Quarter, resulted in another victory for "Shorty Lasar's" side.
. The score was ten to eight in favor olI the "Brushers." The "Putty Blowers" played well at the start, but finally. dropped into a state of listlessness, aggravated by "P'op" Farrar's "tired" period in the box in the fifth and sixth innings. Farrar pitched in a kind of I I,:; a,rsap ari lla,' , stylc, but, in justice to him, it must be said that his support was too ragged to be worth , mending. The players and positions were j as follows : —
BRUSHERS.—Lasar, ss ; Walden. 2b ; Hutchin?"n' Whalen, 3 b ; Sawyer, c.f; Lcring, p. Enrin 1 > Rcynard, l.f. ; Miller, r f.
PUTTY BLOWERS -,Jeandreau. U,; Farrar, p.; I MacPheraon, 1 b; Pitts, 3 b; Stevens. ss; [aylor," r.f. ; Willis, c f. : Lambert, 2 b.
~TTE,~S
^ithrespecttoMrrSS 'nert two hundrcd and ^ M the 1^1! words, would iUeVyj spondent on what aUt a is based.
Assuming that abJ| word has its equivalent ij| guage and vice-versa, lt| Young's statistics gerated. Accordingtob toe1§ would be nine Engli^ J§ French word. "jB Furthermore, to COil' Jr with 200,000 words, J|terms, would exceed' «k imagination.
I do not profess to 8, ber of words iii I heard it stated sorlr. there were sixteen French language, ct wf common use. K Paris, May 4,m J
"Highness" orjjt.l To THE EDITOR OF IHSS^ Your excellent P51,. * in every detail, I ment in yesterday's mt
I cess - Alexis Dolgo ' would like to know, family entitled "fee4 As a matter of fat: tea and very absurd from *| view. The one and oalMi family who is i. Yourievsky Dolgoroi 1 Emperor Alexander 11,
Milan, May 1, 1901.
. [Perhaps "A Russia;'!
is the rule to distin-»j ness'' and "serene hifto1 princes or prineesst-> notu because the English valent terms to disiij* Russian "si}'atclstr,, k ently to counts aul pm .applied to certain pritceivo," whidhj belongs family. From the fe*. which he invoke'r'¡¡p- correct to use the la^ dressing either of wf tiondbyhim. M Princess Yourievsky goroukoff, not 1> '■ L^jR ^
Cruelty
To THE EDITOR
forr,aatio,
Permit me to who, without dress, send letters ijmm eases of save time if the;. Jp though nQ"-MOrflber'; JB toctricc des Anin»®jp|g wI. once, or maux, 36 rue \ ■■■Jl'. fa case thing. ,
As a rule ffh
I write to the 0W7 M ally get an lovers of ?nl dealing with case; ■ F ^ trledes1^;^ |J| kiiiiii,ll'X matters ' 11| tpdifcorrcsyJ'.Ag thehcrue|/^o: t |
Boer Ultimatum ro THE EDITOR °',f
Would you harr a, constant r^
"he Transvaal bega;
Paris, 8 rue
Books MX* EpIT05
I have tI** md of " t(is . 'I i [, xw;*5 ale. j,jcliw J%iLIf
Paris,
f
Tea
E pI roB of oTHE -1*' In rega<d , 0 , J
to t es udefi ' VV J| |
)o fal.
oi
»Jvw
' Carf0 If. ■ " . M'
,VAL
ti
lache>
Merest, j
t)P /jBr
VIEWS
"Parisien"
Thous,,illd corar"D
[Owing to received and the I > to accommoda te f[ Ji> > must confine u ^ Je limits of ioo to ^ they cannot be tnt' * duced in length.] er^'i
To TIAH EDITOI:
ANNOUNCEMENTS.
WILLIAMSON. A " g It k
~, 4