New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1889-03-22
THE DISTURBED COPPER RING.
FRENCH DEPUTIES DISCUSS THE FINAN
CIAL SITUATION.
THE GOVERNMENT is SUSTAINED IN IT'S POLICY
TOWARD THE EMBARRA AssEp INSTITUTIONS


TOWARD THE EMBARRASSED INSTITUTIONS
Paris, Mssch a1-In tho Chamber Of Deputies to-day
n. Laur, In the discussion of Interpretation on tho
copper crisis demanded that the Penal Code provision
against monopoIics be enforced He accused tho oths
ehds Of causing the crisis and Of leading an inter
national plot against the French Market and urged
this necessity Of an inquiry into tho crisis
M Rouvier, Minister Of Finance, ridiculed NJ Laurs
speech as romance beneath the dignity Of serious
assembly. Tho allegation against the Rothschlds he
said, undoscrved, and its rctation could be loft
10 the pubiic's good sense. Tho Compton dEscompe
would have suspended but for the assistance rendered
Il Ths Comptoir dEscompte deserved the Govern
ments solicinde. II any los occurred IN connection
with the first loan II would be borne by the capitalists
and not BY tho Bank OF France The second advance
would be made by the Bank Of France and nifty cap
faliss. Tho Compton fEsoonptes doors, therefore,
would not be closed
The old Compton dEscompte ought to be liquidated
and replaced by an analogous institution, necessary
was It to small and medium branches of trade. He
had confined himself In the matter 70 giving advice.
The Bank Of frances action was entirely free, and
the Eation's thanks were due to Il and to all whose
aid had helped to avert disaster the extent of
which 1t would be impossible 70 measure.
H. Thrvenet. Minister Of Justice, informed NJ.
Laur that tho Law against mouopobes had not been
repealed, but that 1t difficult to provo charges
of monopoly.
NJ. Leicune reproached the Government for refusing
10 intervene In the Panama Canal affair and yet In
tervcning In the Compton dEsCompte crisis, which
was the business Of the Houte BanQue and Bourse
specalators
NJ. Rouvier replied that tho Government had been
unable to interfere in the Panama Canal matter. In
The Compton dEscompte had intcrfered solely
In behalf OF the depositors.
NJ Mflerand said that the Government had per
formed only part of its duy; IT ssin remained to
make saln'ary example. He proposed IA order OF
the day calling for an immediate judicial inquiry
into tho copper monopoly.
H. Theyenet assured the Chamber that the Gov
ernmens would scfupulously examine into the mat
tsr with the view Of reaching tho guilty parties but
It reserved tho right to choose It's own time for the
investigation
The order of the day. pure and simple, was rejected
-26A to o3z.
d. Ihur then withdrew his motion for the enforce
nenf Of the monopoly Law, and, after further dis
cussion, u. Thomson moved order Of the day de-
claring that the Government would take the neces-
gary steps ascertain who woro responsible FOR tho
crisis and 10 make the law respected
NJ. Thomsons motion was accepted by the Gov
ernment, and was adopted BY the Chamber by vote
Of 38e 10 31o.
sLe pariss states that the Tribunal wl dissolve the
Sociese des Metaux and appoint M. Levasseur hqui-
dator. ~
Rentes and foreign securities were firm to-day.
Financial companies shares were heavy; Credit Fon
cisr shares fen 81 francs. Rio Tfnto sharos were IN
AZ the close Of the Bourse to-day comptor d'Es
oonpte shares quoted ~ 137 francs 30 centlmes
and 0R@SSS SsSed Mseh az closing S s s aoSu Kss
v1ch Co. deny the statement that their creotos ha
a s pound "a Connection S sD WITH he soceie ss
Metsux troubles. Ihey say that negonaaons VIA WIN
ssr Ssf sse epsdtos ea shs accept In view
Of securing the frms coopefatton against The copper
syndicate.
Tue dealings In copper at the Nsw-York Metal
Etxa&1nsp ysstcrcsy wofe The leading faatire h. ne
Days Suspess, and wbI3c the ansactions wefe small,
they weFs Of such character as 70 indicate more
settled feeling than has been exhibited BY traders
for some days and gradual growth OF coufidonce In
the minds Of ell but tho extreme bears that tho worst
OF tho onble oeoasioned by tho failure of The synd-
este has passed The market was irregular through.
out and after sn advance at the first ca wodnos-
days closing, and subsequent decline the second
CALL prices good merchantahle metal closed about
one-half cent higher and somewhat frmer.
Two lots of @. n. B. Of $4,000 pounds each sold
for March delivery sii 80 and si1 35 respectively,
and like quantity for July at s10. These sales
were made by prominent bears and It was thought
that this slight activity only effort on their
part TO create market with the view Of ultimately
depressing prices Lake copper advanced to $40 10
for tbs March delivery, net advance of about
/ IL cents Wednesdays figures The only sale Of
Lake metal recorded was $4,000 pounds at s15 80 for
March delivery. To obtain an indication Of the tone
Of the London market private dispatch sent by
prominent operator 10 HIS correspondent In England,
asking 1000 tons of @. d. B. American copper could
be purchased in that market at quotation. Tho
pig was as fcllowr: Impossible 10 execute order,
on account Of scarcity Of required quality The New
York dealer referred to considered this clear indica
tion that better market may be looked for on the
other side which win be reflected IN the dealings here.
The market closed hrmer, with q stronger feeling Of
confidence or the part Of buyers. The cosings were
as follows: ,, 49,,
O. NJ. B. ,,is dse Ssh. InhS p1I1 ~ C1asiL, 1sL,oa
-. 4 90 IA. 1880 lHO0