Alexandria gazette. [volume] (Alexandria, D.C.) 1834-1974, 1879-11-08
sl.r s:apIxr,spf French, EiHaHciec,

Toward The end OF 1874 NJ PhiippGTt burst
like meteor on the financial horizon OF Paris.
no created the Bsrqua Ffsnco- Hollandalsa,bo
oamo president of tho Crodis MobiIicr. and at
tsched himself to many ether companies. lie
came 10 grief, and was declared a bankrupt
both OF Paris and Brussels. his liabilities
amounting to IS, 600 600 OF iraEcs. -Four years
elapsed. That catastrophe was si0kiuR into
oblivion when NJ. Philippalts reappeared. 1t
was noiSed about that he had settled with his
creditors, tot in cash. but by showing
them that ho had acted With SINGER
ity. had not enriched himsslf ct their expense,
aud had worked con:cieniouslY, but had sue
cunbod to great coalition against him OF tho
great railway companies, who sough to prevent
him from grouping all tho small lines into
seventh great Company. His creditors believed
him and absolved hin. ind no rcappeared in
the financial world He crta:ed GeW bank,
tho BauQue Europieuue, was empowered to
| raise its capital to hundred million of francs,
! aud issued the shares ct considerable premium.
IIo mado 10 premists Ho simply reminded
tho pubic tGat it was he who invited it to sub.
SCRIBE His first issue vas OF 10000 sharis Of
| 500 francs nominal, at IC0 francs, They Hcro
subscribed four times over. A general meet
| lug held at Brussels authorized him 10 c0L-
| lioCC oHO IOVp,OOU IlhL SS GubShGA
the ccifers Of the Baaque Europien5e. Then
he commcn,ed kild Of race against bGurse
lspsculaliUni. Philippart bought az cuormous
humber Of shares CT the Orccit MotiiIcr, the
ch.ilmal ship of which no wished to receiver
| His namO was miX,d up with a variety Of
athlmes. and, in short, he shono mcrc
brilliantly than ever. aud us ii endowed
with GnaLclal ubq ai:y. at tic set,
tlemcnt Of October 18Th it wss whispered
that some difficulties had inpeded his opera
tons, and that he had to pay very dearly for
mGLcY. Tho settlement, however, passed
over. -Four days ogo he announced to the
board of the Bauque Eurepienre that the com
ing aotlemcnt would be difficult; that he found
1t had to Talso money, and that lie WIS going
to lFlgc IN Belgium, 10 procure some.
lilo started, and news from him was auXi
ously expected. but two days passed
without tidlngs. On Tuesday cveuing tho Eurc-
pricnno boa!d mt. ~ telegram WAS sent him.
There IVES no reply. Tho bauruc's lcgGl nd
vScta werc sent for lnl tho state Of things cX-
amiucd into. Phpart's 'ilbiIii:s to the
barquo amounted to thrco or four MI
lions Of trauos;but tho barque held an cnornou:
quantity OF Credit Nobclur shares, ard it rcck-
oncd lis sharca in tho purchase ii the Grand
iiotcl and tho Hotel Scribe as an ass>
Of three or four millions OF hancs. Tho
position OF the basque wes therefore fo1d
Oh the condition If tho bonds il held
not being thrAwn On tho market. The
statutes provided that nj operation f. Phillip
part shonId bind the coacHrn ua'I3s indoraec
~ t%o directors. Tho board decided that il
had not accepted tho responsibility Of Phillip
parts bturso operations. Ga tho boards dec
sion and Philippians Disappearance becoming
kno"n on tho bOursc the effect was like thuu
dCroar. lhillippart was 'cxtcrtcd' IS it i!
called; The !hlaGoe duo hy him reaching &, 500,
nHn lraEcl. On Thursday evening il vas affirm
cd That a COMPROMISE waa about to to effected
between the l;srquo Eurupicnnn ard tho brok
era, ca basis to hn agreed upon, $, ps 10 make
tle hest Of tho affair.
Tho directors OF tho Hlrqua Enrcpionnn have
rIconsldcIel their position rcgardiog NJ Phillip
9arla rcculalious, and will interviews in The
settlement OF the difficulties resulting from
thcm. Tho Banquo Euroricnoo seems TO Iavt
been advised that it stands Icy law, responsible;
FIR is chairman's operations. 1t is stated iha
NJ. Phlppart has resigned tho Craftsmanship
OF the hnnk, aad that au extraordinary meeting
OF tho shareholders would bo held as soon n
nnSJhr