Public ledger. [volume] (Memphis, Tenn.) 1865-1893, 1879-11-07
FOREIGN AFFAIRS.
Extremity of Distress in Finan-
claI Matters in Turkey.
Difficulties in the Parls-Bourse =
PeculatiOns from the Banque
EurOpeenne.
RenunCiation by ArChduchess Marie
Christine Of Her Rights to
Austrian Succession.

LONDON, November Geo. Mon
tague, alias John Henderson, who was
rearrested after term of imprison-
ment and held to await the action of
the American authorities on his cor
fession ofmurdering fellow soldier in
Baltimore, has been discharged The
American consul stated that no evil
dence could be secured to substan-
tiate his prior assertion, and the pris-
oner expressed regret at making his
utterly false statement.
Attempts are being made through
mutual friends to settle the dispute
between Lawson and Labancher.
There was a cabinet council yester-
day, and another will be held to-day.
Private letters from Constantinople
confirm the reports of the extremity
Of distress in financial matters of
Turkey. Even pilgrimage to Mecca.
which has hitherto been proyisioned
at the expense Of the government, is
unable to get any assistance, an event
which has never before occurred since
the establishment Of the Ottoman en-
piro
PARIS, November THE Hesse
Landtag has rejected the bill for the
sale Of the Main & Wiser railway to
Prussia, though the line does not pay.
Gaulois says Princess Clotilde, by
the advice of the king of Italy, will
pass the winter in Paris. The an
nouncement has occasioned much gos-
sip in the political circles of Prince
} Jerome Napoleon.
The difficulties which marked yes
terday's Paris bourse have not yet
been surmounted. At the opening
there was much hesitation and fear Of
catastrophe, but later on rumors Of
quiet arrangement reassured the mar
ket.
The directors ofthe Banque Europe
enne have reconsidered their position
regarding Philippians peculations,
and will intervene in the settlement of
the difficulties resulting from them,
The Bankque Europeene, itseems, has
been advised that it stands by law
responsible for its chairman's opera
ton. Phillippart has resigned the
Craftsmanship Of the bank, and an
extraordinary meeting Of the share
holders will be held as soon as posi-
BILE.
Toward the end Of 1874 Phil
lippart burst like meteor on the
financial horizon of Paris. lie ere
ated the Banque- Franco Hollondaise,
became president of the credit
mobilier and attached himself to many
other companies. He came to grief
and was declared bankrupt both at
Paris and Brussels. His liabilities
amounted to 28,OOO,OOO francs. Four
years elapsed. That catastrophe was
sinking into oblivion when Phillippart
re-appears. 1t was noised about that
he had settled with his creditors, not
in cash, but by showing them he had
acted with sincerity; had not enrich
ed himself at their expense and had
worked conscientiously, but had sue
cumbed to the great coalition against
him Of the great railway companies
who sought to prevent him grouping
all small lines into the seventh great
company. His creditors believed
him and absolved him, and he reap
poared in the financial world. He
created a new bank. The Banoue
Europeepne was empowered to raise
its capital to one hundred million
francs, and issue shares at consider
able premium. lie made no promises.
He simply reminded the public that it
was he who invited it to subscribe,
His first issue was of 10000 shares Of
800 francs, nominal at 100 francs.
They were subscribed four times over.
The geGcFal meeting held at Brussels
authorized him 10 continue his issues,
end seventeen million francs went in
to the Golfers OF the Banque Europe
enne. Then eommencod kind off
race against bourso speeplations.
Phillippart bought enormous numbers
of shares of Credit Mobilier, the chair
man6hip OF which he wished to recOy-
or. His same was mixed .up
with variety Of schemes end in a short
time he shone moro brilliant than
ever, &c if endowed with financial
reliquity. At tas settlement of 0cto-
Der Is, it was whispered that some
difficulties had impeded his operations,
and that be had to pay very dearly for
money. The settlement, however
passed. Over four days ago be
2pnouncod to the board Of the Banque
&turopisppe that the coming settle
mont would be difficult, and that he
was going to Belgium to procure
-