New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1882-01-31
TIE Union GENERALE SUsPENDS.

PARIS. Jan 3O.-The TrGpfaS states tha' III view
of the claims lodge against it, the Union Generate.
acting in conformity with legal advice. suSpendcd
ua,ment to-day until the general meeting OF IFS
sbarrholdtrs. which will be held on Friday next
TIE Ncs,aoer de Paris announces that at the instance
Of the Union Generate luuiclal ADMINISTRATOR VI
It's affairs has been appointed
LONDON. Jan 3O.-TRe Pail UaH Gazette says;
The nsuaI excuses are circulated that the suspension Of
Tho Union Gcnerae Is ouly uomcntary.
The same journal SAYS:
may now be considered almost certain that rho hank
rate OF discnunt will promptly adrancc to per cent
Tie report # the stoppage OF the Union Gehel5e "n
the large wit thdrawa Of gold from the bah Oh EhSlahu
t.iav caused "A very weak tone IN the socA market.
Nearly all securities were pressed ndlscrinaely IDt
sale prices closing at about the lowest quotations. Vi 'no
day.
The large failure reported oil the Duhlin STOCK
Exchange on Saturday is that of the urn OF Young
ITEDoY. jan 3l.-The Times, in its financial ar
ticle this morning says:
Before TIE sitting of the Bank OF England directors
terminated yesterday IT was detHcd TO fSsg @ th
drawals are threatened
4 dlspatch to The Times from Paris says it is an
nouLced that representatives of tho Austrian Lam
der Bank Il creation of the Union Generate, nave
arrived there with documents showing that the
I"u,ier Bank is not affected by the SUSPENSION of
the Union Generate.
Hdd smEl pOq
LoNpoN, jan 3l.-Tbe Standards dispatch from
Paris says:
An outside broker has committed suGide haying been
unable TO meet his liabilities. UhauthorNeo nONerS
lose $50 900 by his death
The failure of the Union Generate is the
NOR. important of the great efforts that have
hen mad. lately to prevent it, meeting of prominent
bankers among whom was the BarOn Rothsclnld, was
held iu Paris on saturday to devise to avert he
panic at the BOurse Ii reported that the
b,pkers present agreed advance s5000000 francs
the collective responsibility of the sixty official members
OF the Bourse.
Tie Union Generate supported BY the entire
clergy and Roman Catholic aristocracy of France The
Compte Chambord is said to hold 100000 francs
of its shares The par value Of its shares ia 300 frames
bu, only 125 francs paid in Its capital has
been increased several times and apparently its con-
dit,1n prosperous. It's shares have sold within
q frw weeks at 3,4oo franes 1t was
cial methods were not such TO insure
NJ Bontoux was the manager and some Of his
oDrations were chnerical lie bought the lGnesuerGer
Iron Works at price c0nsderabiy above their yalua
non He paid large for the Pes' hSemlin Railroad
Which hal always done a losing business aud he also
fpert large OF money in securing rom The Servlan
Government the right TO build railroad through tnat
success is SAID 10 he very doubtful.
TIE NEWS IN WALL STREET
The foreign adyiccs in regard to tho financial
cri.is iu Pans caused g slight uneasiness in Wall
Street yesterday. The advance IN the Bank Of Eng
land rate OF discount was not unexpected,
but ihe HedNy WlIHQIdNaI OF pullloD yesterday
for shipment to Pars showed that the advance
ha3 not checked the gold movement. The
nonncenent OF the failure of the Union Generate of
P.ris was made early in the day. but the private
dispatches received by bankers did not mention the
fact and. in consequences. the report was
Dot generally believed until the news
was confirmed after business hours.
II was MT generally known until late that engage
m,nts for the shipment Of gold from New-Y0rk had
been already made The Bank Of America was pre-
pairing for shipment by steamship on Wednesday
) 300. 900 III gold but officer Of the bank said
that he was not at liberty to give the
amount or the of the shippers for
whom it was being prepared. Further
shipments on he same day are considered probable.
slGCe the resumption of specie payments, the flow
&! geld has been continually toward tLls country
and no large shipments have been made since 1876.
IN regard 10 the reported failure Of the Union
GeaeTdte, the NewYJrk agent Of Lazard FieTes said
yesterday that he had received confirmation of
III uews in his private dispatches from Paris but
he expressed doubt of the correctness of the re-
pore. lie SAID that the bank ought to have failed
long ago,