New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1889-03-12
THE BoURsE GALMS DOWN
COPPER SHARES CLOSE STRONG m THE
STOCK MARKET.
A. FINANCIAL CRASH AyERTED IN PARIS b
INTERESTED BANKS AND BANKERS

A VIHANOlAL OkAAoh ANbRAHD AAN NASAo ID
INTERESTED BANKS AND BANKERS
OF THAT CAPITAL:
paris March 11.--stocks were very weak before
the opening Of the Bourse this morning. RIO Tinto
shares at moon were quoted at 3ss francs rs cen
times.
soeIcts dss Metaux shares at 1880 o'clock were
ouo,ed at 90 francs and Compton dEscompte shares
at 305 francs.
The Offices Of the Compton d'E<compte have
resumed their normal appearance. The public s
admitted 70 the central hall as usual to-day No
crowds were present
Compton d'Escompte shares OF 2 40 O'Clock were
quoted at 3l5 francs socete des Metsnx shares at 90
francs and Rio Tnto shares at ais francs
Ala p. m2societe des Mstaux shares were quoted
at 10 francs, Compton dEscompte shares at $40
france and Rio Tnto shares az 1e francs 10 centmes
Tho Bourse closed frmer extensive purchases re-
vorted to have been made by leading banks. At
O'Clock Compton d'Escompte shares wers quoted at
400 francs. Bears were buying, fearing heavy re-
action 1t is persistently reported that Compton
d,Escompte viii be reconstructed, with Mr. Holender
as managing director
srhe amounts guaranteed to the Compton d'Es-
oompte are rs follows: Rothschlds 900 francs;
BANK of Paris and the Netherlands $500 Credit
Foncier, 2,00O,o00 the directors of the Compton
d'Eseompte, 100000; Banque d'Escompte, Credit
Mobner, NM. Michael Hene, Stern, Hottinguer, Andre
eirod and Hentsch, each 1,ooo,ooo; Credit Lyon
nas and socists & o5 oG5enera-c each 100000; various
London, March I1.-A large business was done IN
sympathy with the better prices on the Continental
boufses. @. NJ. BIS wero quoted At So pounds TO
shlngs for cash and so pounds 10 shllngs for hroe
months delivery.
The dealings in copper at tho Metal Exchange
yesterday, while limited in amount were Of such q
character to denote the collapse of tho bear move
ment, and tho news received from Europe late In
the day fully confirmed the reports of the syndcates
having tided over Its difficulties Tho only transac-
tons recorded IN the Exchange worc sales OF $4,000
pounds May at 1870 cents and 10000 pounds May at
1875 cents, both lots bcfng taken by 7. j.
Pope who was q prominent bear In last weeks
MARKET There were no sales on calls. Pres
dent Thompson, of the Oxford copper
Company, who took all the copper offered In tho
market last week. received hrce dispatches from his
London correspondent yesterday, the first OF which
said 1T ls bad time to operate. The market 40
pressed. Spot good, marketable 81 pounds The
second disp atch received about noon sad hatnesons
banking firm has taken control OF tho syndicatSs
business The general feeling s much easierS Laier
IN the afternoon he received another which said that
the condition Of tho market had totally changed
for the better.
It was learned that the Mathesons' banking firm
bought the Rio Tinto mine from the Spanish Govern
mont and had, Of course, been interested IN NAN
tanning prices broker said Tho syndicafes
business now being in competent hands, from all sp
pearanccs. we may now expect after the late break
of as pounds per ton In the london marhes 70 soc
moro confidence among metal dealers over tnere
n l thought that the Bank OF France put the synd
cats,s affairs in the Mathesons hands, as they were
NOT satisfied with the recent management
The only quotations from London were 'opnons
sor Nav &C As pounds and May Is at 4T.io pounds,
but the closing prices showed rapid rise for spot
copper at a3.1O pounds, ana three months
futures ut so pounds. Tho New-fork markes no
aeet.d the INCREASED confidence ia London and prices
for kood. msrchsnubls cerpcr were es follows