The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1848-10-10
TWO CENTS.
Our Paris correspondence.
PARIS, Sept. 81, 1913.
YHr Rn.rr.r nr,I lfom1n lIrrEct


Compared with the quotations OF the preceding
ten days, the funds have fIuctua,ed considerably.
partic qlaily IN hves The Fives continue, in fact,
to support the weight of two or three systems OF
specuations, founded on calculations the most
simple 20 capitalists and spectators. They buy
scrip, Lyons Railway, or three per cents, and
sci! them ayainst fves. This system would fal
in consequence of the sales obliged by 1t, from
time to time, il considerable and continual DIS
counts did not Waintain prices. 1t is by means OF
the high prices which have been thus kept up. tina,
the consolidation of great part of the Lyons Rail.
ways have been 4.Tected But, to attain this end.
| the Minister Of + Oancc has been Obliged to con-
! cede TO the holders power of discount WIN
had produced, at two different periods within the
| last ten DAYS, Il tall a.s Fapd as UNEXPECTED
NoUne torcssw the probability of allowing in
stalments to Ne paid OF the 25O francs per share.
by ant.cipato9 since ttgtr entire payment sprea
over ,erfod of Is months. The long delay OF
the operation conholled tli.. successive emissions
on the market, bet lntericred with ihe rrsltzs-
ton of pr9iit, and diminished the instalmen's on
which the Minister though. he could reckon. /
was re solved them selng the hesitation OF certain
large massce of hold. RS, to raise the suices, b.
allowing the right Of accounting to the treasury
the % francs Ut rents. lromisedt to the holders VIII
should pay up tieir 'nstaIments Some iarg;
houses and private psn ties avdlled themselves
this provision which sn abled them to touch irnnp
diately the dt benween the ice paid tor III,
new stock and that OF tfat' hves in the market Bu
the market was Eept in 1.l orance Ut this Arrange
ment, and was orly INFORM ed of it by the publicity
gwen to the suspension cd actiesa small number
of bidders had enjoyed, Great discomfort was
manifested at the Bourse, while large amount of
stock was Immediately "a rown on the market
The tendency to rae, ocsa stoned BY the accep-
tanee of the Ang o-Vrance mediation by Austria,
stopped short, the discounts 10 st all their influence
the hyes suddenly fen Tbey were barely recov-
ering from this first b wv, than notice, this time
publicly made and posted, announced the re-
opening the discount Attic Treasury, as W II re-
lating to the Lyons railways as the new loan. In
few minutes funds tell from IL. to If. JDc IN the
anticipation of numerous deliveries
The general conclusion come to on the Bourse,
from these arrangements, 1ss that the treasury had
ufNen mt demands for money, and as the expenses of
the six months are PROVIDED tor, these demands
extensive scale, resulting probably from the I'M
certainly prevailing to the results of the media
ton in Italy.
II some material change dcesnottake place pub.
lie credit may suffer greatly, and the idea of inter-
yention will again occupy the attention of capital
financial world. They will lot fail, by their re-
suits, to exercise considerable influence on the
funds and other securities.
The coupon of the loan was detached yesterday
when the second instament of the loan was pay
able 1t was expected that i,,wOud be paid
pro npty and regularly.
The payment of the half yearlydividend on the
fives, which will commence ton orrow, will bring
a large amount of capital into the market, and
will no doubt have influence onprces
The commercial world IS still in state of al
most entire stagnatlon. Certain improvements
are from time to time stated, but they only par
lal, and are frequently not consistent with fact
We have not yet at all recovered from our revou-
tons
The prices of securities for the week are as fol-