New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1889-03-10
THE FINANCIAL CRISIS m PARIS
NOTWITHSTANDING THE EFFORTS OF THE
RAsKEasA PAHIcKY FEELING PREvAILs.,

MISUNDERSTANDING THE EFFORTS OF THE
RAHKEasA PANICKY FEELING PREVAILS
F.,s. March "A meeting of bankers. pressaea
over ~ n. K0uviet, sat at ha MniBus on 1ina''oo
fpon 10 D. m. Thursday until 3 q, m YESTERDAY
several speoches were made. Finally N. Rouvier'
Ioslso nasenee protssted against tho unwillngness
OF the bankers 10 guarantee the loan and tctr refusal
10 recognize their own private fortunes and public
prosperity in the question and he threatened to an
nounce to Parliament that tho Government alone was
ready 10 do its duty. The speech produced greas
IMPRESSION and . syndicate, including hntnscmla'
Malet. Andre GRod, Hene Hottinguer, t1'
orndit Foncier and the Banque dEscompte. was
formed 10 guarantee the loan. The Credit Lyonnais
and the socsete Generate did not toin the syndicate
because they require funds themselves in view Of
the crisis.
Crowds of depostors surrounded the Offices Of tho
Compton d'Escompte this morning awaiting an op'
pOrunIy to withdraw ther accounts S mt nours Comm
totr d5EscOmpts shares were quoted at $50 francs,
societe des Istsux at 100 francs, and Rio TutOs at
''G london, I5doS March saThe Times" in its financial
article says It hears that the Anaoonda ana Csumet
for two months and It Is believed that tho Rio Tnto
will follow their exaIanie; .eo ,,.nos
socete es Metaux shares at 11o francs and Hio Ino
shares at 345 francs.
The rsce,pt Of the news of the panic on tho Paris
BOurSe and heavy Ihl III OoPPoF hi'"0 :. =,
not create any excitement on the Fe"-iorA "o'Ai
Exchange yesterday. The general impression
among metal brokers in this city seems to be that
the nantc is only temporary. On the hoof Oh the
Natal EXCHANGE copper received little attention In
the midst of the copper call the following caole u,
match vns posted: Rio Tinto has been up 10 10
selling now at IA 1t is probable that the copper
svndcate Is advancing prices on such mines as arc
now certainly paying and restricting the output rom
others Scarcely bid was received ater tno Gun
tents Of the dispatch ha6 been made KNOWN
T1,vtnc the last two days there had been moderate
b,.,ness dome but yesterday the buyers were sny'
There were few bids, but no sales were eno'tou foi
,.ho .onnar 1b cents was bid and 1s asked Most Of
the transaoous of the brokers are paper ana ior a
,e.son a is said that the panic VII not anect he
Amer,can market 10 any great extent none o' 'ne
,,oot ,hat 6ec,ned on the Paris Bourse represent
nrod,o,no mines In this country. The stocM most
sf,sctsd are Rio Tfnto. societe des me~uA,
Compto,r and Calumet and Hecls- 1t u tho genera =
IMPRESSION among brokers that the action OF the Da
Of France In advancing 1oo,Ooo,ooo francs 70 he
| Compton d'Escompte, viii have tho eneo' VI P'0
| venting further spread of tho panic u.,
H. E. Jacob, OF No. 80 Wall Street. VINO
the Calumet and Hecla was seen AZ MS oi0e -
after the Exchange had closed. he dia nvv =, ,S'
all uneasy, and when asked s 70 tho proosp" =.
French panic extending to tho Arnerosu IN
rsrlst .aid * do NOT think the home market WI VII
h ssn ~ 49,, SSgoic The other French banks WI
Come Ia The sssistace Of tie Bank OF France ng 49,
Il seems 70 TsSsna me naAf the further spread Of IN.
panic, as was done here on one occfso came Is ths
was run bank Al, h.,r tns oVn dspositors from
| rescue and thus preTenIeu hof '"i
q Mendei said: aThe American msrhen s,ir IN 'N'
| opinion, VIII not be afecfed Ds 'is NiOA