New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1889-03-24
THE COPPER MONOPOLY.
!. crpcrr ap FROM THE COUNCIL OF THE
a 0in compToIR DEsCoMPTE
rHs rnsrarurlos WILL NOT BE DISSOLVED BIZ
TIE TRIBUNAL : SHAREHOLDERS TO


pxupx THE QUESTION.
49,. .f.rcb 2s--The Council of the Compton
,rr..s.,sn,e has issued circular in which it is
a.s .,'as she death OF NJ Denfert Rocherean, the
..ss,r director Of the concern, created such o
AA-s.a a,aour the depostors that the bank was
ss,a,sIed. despite all the measures it had taxen'
= as,,eal for aid to the Bank Of France and the
Ian financial houses in order promptly TO OBJ
-, srficiept funds TO insure the proper working
- the organization. The Councis warmly acknowh
,aees the aid given, which enabled the Compton
a'Escompte TO meet ali It's requirements. one
slarebolder took the initiative and applied to the
Tr;buunl of Commerce for the dissolution of the
company and the appointment Of provisional aa-
ministrafor. The Council could not oppose this
dsmand. especially as it was accompanied
no proposal to establish q new
comuany which would be favorable to the
shareholders, and new company could nos DC
formed with advantage until power was granted
10 transfer to it the present organization ana
;ts connections in which a break must be avoided
AT any cost. owing to the urgency of the matter
il was impossible to submit the question TO
general meeting Of the shareholders the statutes
,eoujre that a months notice be given OF such
meeting. The provisional administrators appointed
nv the Tribunal can alone in default OF tne
appointment of q lquidator, have power 10 sum
mon q general meeting
AZ the closine of the Bours to-day Soc,ete des
Metaux shares were quoted at 80 francs eV
eer,times. and Compton d'Escomptes shares az l19
francs so centimes,
Rio Tinto shares closed at So3 francs 20 CEN
times The Bcurse to-day was firm ,tnfougnou'
ON the recovery of prices of shares of creds
and in sympathy with higher prices abroad
On the Pc tite Bourse Compton d'Escompte closed
at 20 francs and Rio Tintos at 300 francs
The Tribunal of Commerce has considered tine
demand of one of the shareholders of the Comptor
d,Escompte that the concern be dissolved, ana
has decided that there is no ground for its disso-
lution. The Tribunal has also decided that ~ wli
NOT appoint q hquidator, but has noninatea mn"
Moreau and Monpchiconrt provisional adminissra-
TORS with power to summon q meeting OF the
shareholders to decide upon the question OF dsso-
luton.
la Petite Republique Francaise' says that the
deposits of the Credit Foncier exceed A,ooo,ooo
francs. and TINT they have iacreased lo,O00, guy
francs since the crisis in the a1s Eossr ., s the napr
says holds 3e6 000 900 francs Ia bonds ana fensss'
Its depositors could be repaid fmmedlatey VIII WI
out depressing the Boqrse as py I a,es n
Fopcier could obtain q much larger san than iS
deposits The last payment due on the ponds y % %
the last loan issued BY the Credit ioncier has go
punctualiy made The Credit Fonc3er therefore
i has received considerable rcmittances thus ca,
abhng it to reduce its interess On oomnsrOiai
loans. 49,
an action against the Cologne Gazette' for npsL
Il is expected that the Bank OF France WILL in-
stitute proceedings AGAINST London papst ISf e
making hbeacus statements concerning onr o'AA-
Yesterdays copper msskss was entirely without
any seaure OF interest and Bfcss isas,na
tx--ss a.