New-York tribune., 1879-11-08
4 GREAT spncUIArorS DoTYTALL.
rHILTPART BTCOMIS BANKRUPT REGMNS HIS
CREDIT, AND FINALLY ABsCoNDs-LARGE LA
BIIITIEs.

rHLIrPART BECOMES BANKrUPr REGMNs HIS
CREDIT, AND FINALLY ABsCoNDs-LARGE LA
BlLTIEs.
LONDON. Friday, Nov. 7. 1879
A Paris dispatch to The Times says: Toward
the end OF 1874 VI. PniippaTt burst like meteor Oh
The huaucial horizon o Paris lie created the Banque
FraucoIIoandais,.. became president OF the Credit
Mohilier, and attached himself to many other con-
panes. He came grief and declared a bankrupt
bolh al Paris and Brussels, his liabilities amounting TO
2s.OOOOOO francs lS5.O96.0O0l. Four years elapsed.
That catastrophe sinking into oblivion, when NJ.
Phhppart reappears. II nOsed about that he had
settled with creditors cash, but by showing
them that no had acted with sincerity. had not en-
riched himself at their expense, and had worked
scentously but had succumbed to coalition against
him the great railway companies. who sought
TO prevent bin from grouping all the small lines
into q seventh great company. His creditors believed
him and absoved him. and reappeared IN the ran-
oin world. He created new bank-tbe Banque Euro
peel ,ons ot fancs ISL 900 Oo0l and issued the
shares az a considerable premium. He made prom
ses lie simply reminded the public tnnt IL was he who
invited 1t 10 subscribe HIS first ssue Of 10000
shares OF 500 francs 1891 90 nominal at 700 francs
1927 4Ol They were subscribed four times over.
nue nr ssncs and 600 900 francs 1853 O04 000l
tered the golfers o the Bauque EnroIeenne
EMBARKs AGAIN IN SPECULATION.
Then he commenced kind OF against Bourse
spoculations. Phinppart bought an enormous number
of shares OF the Credit Mobiiier the craftsmanship
which he wished 10 recover. His mixed up
with variety OF schemes and IN short. he shone
brilliantly than ever and II endowed with financial
ubiouty At the settlement OF October Is IL whis
percd tnat some difficulties had mpeded his operations
and that he had to pay very dearly for money. The
settlement, however. passed over. Four days ago he
announced the Board OF the Banque Europeenne that
the coming settlement would be difcut that he found
II hard to raise money and that he going 10 Lege
in Belgium procure some lIe started. and news from
him wa nxiously cxrcc'd buf two davs passed with
udings ON Tuesday evening the Euro eenne Board
Banqus legal advisers were cent for aud the state
OF tnings examined into rhppar's liabilities to the
fsJi6OnO S1ZS OOOli hut the Binque held an onor
H. H. quaniity Clcit Mnbcr shires, and reckoned
- shlrcS II the purcu'se o me I'Hn' atel ana thr
francs tS546,OOo or S72s.0O0l. TIE position ot the
Baique thrtcfor' good on tne condi lion of the
bonds u held not b ing thrown on Ihe arkct TIE
statutes provided that operation a. PppaIt Sh ud
bind the concern ucss ndoi sd by two directors Tue
Board decided that y had no, a'c pied the RESPONSE
b.lry If fhuippart'- Buu se operltiors.
on the Bonds d'c !oH aud PLipparis DISAPPEARANCE
becoming known OF the B'uis', the Elect was Ike
tnunder-cap. PhilpIhtt was "cxecgted," ~ Il f.
called fNr balance auc by him reaching 1000 francs
fsl .237. .GUOl On Thursd evening II affirmed
thai conprnmisc about he effected he ween the
Baique Europe nne and the BROKERS basis TO b.
agreed upon. - TO make the best Of the affiir.
GREATER COwrOsUEE YESTERDAY.
dispatch from Paris to me Times saws: The dif-
culiies which marked yesterdays Paris Bourse have
moi vet been surlnouutcd Al The opening there was
much hesitation aud OF catastrophe. bat later on
rumor. of "a quiet arrangement reassurcd the market
Tn directors Of the Blnque EuropCcnne have reoonsid
cred thcir roslucn regarding NJ Philippians spccu-
TO nave been advised thar II stands by law
tnrt NJ Phnpprt has resigned the chirnanShp OF the
Bauqne. aud that an extraordinary meeting of the
share rthoders wou Il he held ~ soon a' possible