The Manning times. [volume] (Manning, Clarendon County, S.C.) 1884-current, 1888-09-12
WILL coBBLE UP THE SILVER.
A Scheme to Control the Silver Mines of
the yorId-TIle Projectors.

New YORK. September Ga gigantic
trust scheme has Just come to light, the
ultimate object Of which means the con
troll of the silver market OF the world by Il
syndicate OF capitalists in this city and
Mexico. Tie news OF the enterprise
reached here yesterday morning through
telegraphic dispatches from Mexico, an"
has caused considerable talk on the street
The big bank of the syndicate will be
situated in the CITY of Mexico, but under
control of New York bankers 1t will be
known as the International and Mortgage
Bank of Mexico, which is the outgrowlh
OF the Banco Hypotecarlo, bank no" IN
existence in Mexico which has had the
right to issue mortgage bonds against mort
cages on real estate not to exceed o0 per
cent. of the mortgaged property. For
more than year, it is said, the syndicate
of bankers have been dickering with the
Mexican Government TO get control of the
charter of the Mexican Mortgage Bank,
and have only recently succeeded. Under
this charter the new concern has right tc
issue silver and gold certificates, payable
all over the world, based on silver deposits,
and by using these certificates as the mode
of settlement between this country and
Europe it is conceived that eventually the
silver will increase in quantity in this coun-
try, and In the course of time the certiti-
Gates, and not the silver, would reach Eng
land. This would result in the quotations
being made on the American certificates,
and not on tile Indian Exchange bills,
which are now regulating the price OF sill
yer, from the fact that the entire Eastern
possessions of England use nothing but
silver
On the other hand, some, persons think
that when the real objects OF the syndicate
come to light it will lie seen that the move
is to negotiate for the purchase OF all the
mines in the world for the purpose OF COM
pelling the Government to pay a higher
price for the refined metal. In 1887 there
was production of nearly $3.50, ,000, 900 OF
silver in the world, the principal portion OF
| which came from the United States and
| Mexico. Taking for granted that the syn
dicate could carry on operations on the
same plan as the Standard Oil Company OF
| the French Copper Syndicate. which cor
| rallied all the copper mines in the world and
caused an increase of from 9 cents to 16!
cents in the price, the syndicate would be
come immensely wealthy through the loss
1 of the Government. The Government now
saves from 16 to 20 cents on each dollar
turned out of the mint. This could bt
greatly diminished at the option of the Sill
yer Trust.
For such syndicate to be formed, how
ever. it is estimated that it would take a
least 5000, 100000 to control the mining
productions of the world.
It's said that the leading spirit in the en-
terprise is Robert Collegiate, of the Atlantic
White Lead Company. He is out of town
and his representative knew of no sucl
scheme. 1t is said that n. B. Hollins &
| Co.. of No. IS Wall Street, are also activ
movers in the building up of the syndicate
and it was stated yesterday that their agen
in Mexico will have sent full particulars o
the purchase of the Mexican bank mex
week. 1t was rumored that Conrad n
Jordan, President of the Western Nationa
Bank, was prime mover in the scheme
but he denied it emphatically.
1t is claimed by one of the company o
| H. B. Hollins & Co. that the new bank Ii
Mexico will be the largest in the country
and its ownership will be divided int
thirds-one-third in Mexico and the othe
two-thirds in the United States and Europe
He said that the president of the new banl
would probably be Mr.. P. Martin.