New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1881-09-04
FOREIGN SPECULATION.

FOREIGN CIECCLaIION.
Notwithstanding the great heat, and the
exodus of all who can get away, the rush of new
companies, both in Paris and London, continues.
On the English market ten new companies
are reported as launched within a week, with
an aggregate capital of twenty millions of dol
lars. Gold mines for the moment have gone
out of fashion, and shipping and miscellane-
GUS enterprises are taking their place. Among
the issues is Bedford Park, limited, an attempt
to provide tasteful homes for the middle
class Lord Colin Campbell, whose marriage
with Miss Blood was recently noticed, is the
president. The prospectus of the Royal
Italian Opera Company modestly asks for
E450,0O0 to acquire all the interest both
in Covent Garden and Her Majesty's
Theatres. All that Colonel Mapleson has
to sell consists of the dresses, music,
scenery and forfeited lease Passing
by such trifes as a yeast company, the
Castle Packets Company requires fl 400, 600
to take over the wel-known line of steamers
run by Donald Currie g. Co. to the Cape.
Considering that the best part of the carrying
trade of the world is done under the British
flag it is no wonder that shipping in London is
just now in the ascendant.
There are numerous issues of American securi-
City and Deadwood Railroad are offered. Most
bankers in Wall Street have seen this prospectus
The Board of Trustees includes Norvin Green
and other gentlemen well known in New York.
The other American security is the Texas
Trunk Railroad, running from Dallas, on the
Houston and Texas Railroad, "to point on the
Gulf of Mexico" These bonds are offered
at 1O3. The British Colonies come for
ward with their share of applications. Two
land and sheep farming companies for New
Zealand are advertised, identical in almost
every particular. The British investor, as a
rule, has done well in enterprises of this sort.
A list is given of some half dozen similar COM
panies, which stand at premiums of from so
to $50 per cent on the London market. Home,
the Colonial and the American demand being
thus represented, Spain asks for little trihe,
f20O, 900, to work the Rio Malagon mines at
Hucloa. Then South America puts in her
claims. The Cantarcira water works propose
to borrow Gl27,0Oo in six per cent bonds
issued at 80. The company embraces a large
drainage and sanitary scheme. 1t is not quite
clear from the prospectus whether the town is
not first to be drained, the products purified,
and the water redistributed for household
purposes.
Crossing from London to Paris we find the
financial atmosphere in much the same condi-
ton. There, as in London, the public fancy
runs chiefly on shipping. Companies are daily
formed to take advantage of the shipping boun-
ties recently voted The prospectuses of two
ventures OF this character are reported. The plan
of action i'll both cases is to issue debentures
and lend the money on shipping. The Credit
Maritime dc France offers 25,00O,O00 francs in
debenturcs bearing 3 per cent Mt SO The
Credit Foncier Maritime offers 10000, 900 at
par. The companies propose to hypothecate
the bounties earned 10y the shipping as secur-
lty for the loans. The French have "a way of
their own in the formation of companies which
differs both from the English and the Ameri-
can. They have large credit companies some
what similar to our construction COMPANIES.
the business of which is to promote and float
other companies. The Societe Generate issues
the prospectus of new Atlantic postal and
shipping company, with 5000, 900 francs OF
capital. 1t claims to have secured annual
bounties of 100000 francs, 100000 from
Canada, 100000 from Brazil, and 500, 900
from France.
The reports which find their way here as ia
the success which these companies meet with
vary. The successful promoter who has sold
his mine will tell you that the British public
will take anything, while the man who has
failed declares that "they wont look at a
thing" The real truth, of course, lies between
the two. Some companies have fioated. some
have been pushed through and some have
failed, but there seems no sign of any slacken-
ing IN the current, and no doubt the coming
fall will be busy time in both capitals.
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