The morning news. [volume] (Savannah, Ga.) 1887-1900, 1888-12-12
EUROPE'S RIVAL ALLIES.
FRANCE SIGNS FOR RUssIA's LOAN
FIVE TIMES OVER.

The Gear Threatens to Break OF
Friendly Relations with the Kaiser
on Account OF German Opposition to
the Loan-The Panama Shares Not
Going with a Rush-Germany's East
Africa Policy Outlined.
PARIS, Dec 1.-THE Bank of France
annunces that the subscriptions for the new
Russian loan amount to $500, 900 bonds or
$50, ,OOu, 900 francs nominal The subscrib-
ers will probably receive from 20 to 25 per
cent. of amount applied for.
The Panama canal crisis and the success
of the Russian loan absorb exclusive atten-
ton. The loan boom has surprised the
most sanguine and has been the subject of
an exchange of private congratulations
between the Russian embassy and foreign
Office Bourse operations are eminently
satisfactory Everything is rising except
ing Panama canal.
TWO CANAL PROPOSALS.
At to-day's sitting of the Panama canal
committee two proposals were discussed
both aiming to prolong the period for meet
ing the obligations until the canal is in
working order. The committee agreed to
submit the proposals to the government
Financiers have no hope that the schemes
of the committee will avert a crisis.
A GOVERNMENT GUARANTEE DEMANDED.
There have been daily interviews between
NJ PeytraI and Premier Floquet and NJ
De LeSseps and the Credit Foncier directors
The result is that the directors maintain
their refusal to advance funds to bolster up
the Panama Canal Company without an
explicit guarantee from the government,
%ho Co1,f Of fhn nhaV, ,ha1S- NJ
tral is unwilling to do more than to appoint
a6nancial commission to inquire into the
POSITION of the company.
A POOR SHOWING.
The public subscription closes tomorrow.
There is small prospect that the bon Is will
he taken. The reportsthat the government
will eventually subsidize or give guaran-
tee for the Panama company are discredited.
Financial houses have their eyes open to the
fact that America might not tolerate the
conversion of the Panama venture into a
state enterprise.
AN INTERNATIONAL PROJECT.
Count DeLesseps has his own scheme to
save the project by making it an interna-
tional one. According to his plan, Eng
land, America and the other great powers,
will be invited to contribute in the ratio of
their tonnage with an equivalent share in
the control of the canal.
DIVIDEND DREAMS.
Count DeLessips wants to compensate the
present shareholders by a provision that,
after the fixed interest on the capital sub
scribed by the powers had been paid, the
surplus shall go the shareholders. These
proposals can only be heard of diplomatic
ally as last resort to prevent absolute
failure. Canal shares closed on the market
at 145.
1t is rumored tonight that the company
is likely to obtain an advance of AZ, ZOO, 900
francs on it's Panama railway shares. This,
it is estimated, will enable the company to
meet its engagements until the commission,
which it is rumored will be sent to Panama,
shall have come to decision.
HOW GERMANY LOOKS AT IT.
BERLIN, Dec. 1.-THE French enthusiasm
for the new Russian loan is regarded here as
form of national alteration. The portion
of the loan floated by the Mendelssohns and
Cther German bankers was quietly disposed
Of The public here takes no interest in the
issue. If the report is true that the French
bave subscribed for the loan five times over
tits regarded as certain that larger loan will
be offered in Paris within six months. Rus
sia finding it easy to handle French saw
ings will not 10 g the chance to do so. The
results of the financial alliance between
France and Russia are regarded as certain
to accelerate the political entente.
THE CZAR AROUSED.
The czar, through his ambassador at Ber-
lin, Count Paul Schouvaloff, has expressed
CONSERVATION at the German hostility to
the loan. Count Schouvalof was especially
called to Gatschina last week to ex-
plain why the German semi-official
press attacked the loan. In the
course of the interview, it is
reported that the Gar said that the efforts
TO defeat the loan would be stopped il
friendly relations between himself and
Emperor William were desired; that the
language of the German papers was per-
sonally offensive, and that he would hold
the Berlin government responsible for it.