The morning news. [volume] (Savannah, Ga.) 1887-1900, 1889-03-24
FRANCES FINANCIERING.
TIE TRIBUNAL DECLINES TO DIS
SOLVE THE COMPTON,,

Provisional Administrators Appointed
instead of Liquidator-The Coun-
Gil OF the Organization Issues Cir
cular-The Deposits of the Credit
Foncier Show an Increase,
PARIS, March 2S.-At the closing hour
to-day Societe des Metaux shares were
quoted at so francs SO centimes and Comp
toir d'Escompte shares at III francs so CEN
times.
The tribunal of commerce has considered
the demand of one of the shareholders Of
the Compton DE compte that the concern
be dissolved, and has decided that there is
no ground for its dissolution. The tribunal
has also decided that it will not appoint
liquidator, but has nominated M. Moreau
and NJ. Monpichcourt provisional admins
traitors, with power to summon meeting
of the shareholders to decide upon the queS-
ton Of dissolution.
A CIRCULAR ISSUED.
The council of the Compton d'Escompte
has issued circular in which 1t is stated
that the death of Deufert Rochereau, man.
aging director of the concern, created such
a panic among the depositors that the bank
was COuIp oScpiVc ull OLc uloehouh o.
it had taken, to appeal for aid to
the Bank Of France aud leading
financial houses in order to promptly
obtain suffi ,ient funds to insure the proper
working of the organization. The council
warmly acknowled ges the aid given, which
enabled the Compton d'Escompte to meet
all its repayments One shareholder took
the initiative and applied to the tribunal of
commerce for the dissolution of the COM
md ba nt Of n a
administrator.
COULDN'T OPPOSE IT.
The council could not oppose this demand,
especially as it was accompanied by pro-
posal to establish new company which
would be favorable to the shareholders, and
new company could not De formed with
advantage until power was granted to
transfer to it the present organization and
its connections, in W ich break
must be avoided at any cost
Owing to the urgency Of the
matter it was impossible to submit the ques
tion to general meeting of the shareh Id
ers, as the statutes require that a months
notice lie give of such a meeting. The
provisi nal administrators appointed by the
tribunal can alone, in default of the ap-
pointment of liquidator, have power TO
summon meeting.
CREDIT FoNCIER DEPOSITS.
La Petite Repubttque Frdncaise says
that the depo its of the Credit Foncier
exceed $4,000, 900 francs and that they have
increased 1000, 600 francs since the crisis in
the affairs Of the Compton d'Escompte.
The Credit Foncier, the paper says, holds
366, ,0O0, 900 francs in bonds and rents. Its
deposito.s could be paid Immediately with
out depressing the BouTse as
by the transfer of discounted bills to
the Bank of France the Credit Foncier
could obtain a much larger sum than its
deposits. The last payment due on the last
bond of the last loan issued by the Credit
Foncer has been punctually made. The
Credit Foncier, therefore has received con-
siderable remittances, thus enabling it to
reduce its interest on commercial loans.
The Temps announces its intention to
bring an acti IN against the Cologne Gazette
for libel. 1t is expected that the Bank of
France will institute proceedings against a
London paper for making libelous state
ments concerning the bank