The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1889-03-09
THE FRENCH COPPER eCORxEn.
Great FtnAneizl Companies Come @
the Speculatorns Relief.

the apecuaatora' Relief.
PAEls. March k--The Hank Of Franoo
has advanced i00.ooo.ofp francs 10 Sho
sompsoir a E.cnmpts safieient 70 cover
the latter bank. The Engliah copper con-
pAnles have accepted the rsop0eal uol1o
by the copper syndicate 20 reduce tho out-
put during isss 20 per cent. and postpone
deliveries two months.
The trosibles 81 thr Socicse dea Nefnux
arose from, interruption OF harmony Ia -
syndicate. The failure Of the syndieats q
not thought likely. The Knshschildn aro
deeply interested. having fostered Is ~
proxy. and would be unwilling 70 have any
concern with which they arc connected
collapse.
The bousse closed better. comptoir d'Hs~
eompte shares were go franco. Rio Tfneo
shares 40, sociefe tez Mesaux aharea las.
1t Is understood that the bank OF France
advance 10 completely covered 6y disr
counted bills which the compsoir d.xsr
Nav yoRE. March s.--There Was mnch
speculative intereat In copper 10 dAy. Tho
fact that tho Bank OF France had cone -
the assistance Of the Comptois q 'Escompto
staggered she bears. but prices arc ffac-
tignsiiy lower; April. gig -: MAJ. lls g
received from London: sOperston in Lon
don predict that the end Of the copper
trust II near. Any echeme devised 70 koop
II UP IN the eyes Of the public fs merely
process 10 arrange an easier liquidnfioM-
II IL apparent that their securities hayo
been forced By ARTIFICIAL means upon tha
continental markets Heavy realizing 4
Inevitable.
In reference 10 the sstussion psominsok
bear operator. who II one time held very
close relations with the syndicate, prophe-
sied The DOWNFALL Of she cofporatioc H
srxaed that even II ali the mtnes stoppo8
producing II would not change the rcsnlk
- the present stock was far In excess ok
consumption The failure OF the aynd1-
cate. he thought, w0ald mot maturta1ly r.
feet the American market
John Stanton, treasurer OF the Centgnl
Mining Co, ons Of the American min1n
with which the syndicate contracted. 81.
pressed q belief In tho soiidity Of the nyn-
dicate. Tue bank of France. Han
ton added, would ceriainly mot make
money advances In excess OF the copper
Bosros, March s.---The directors OF al
Boston copper mining companies have
ratified the action Of their executive
0ffieers La New York In regard 70 the
french syndicate.
A meeting Of bankers. and presided over
by ko1vief, sat NJ . ministry OF dnauoo
from 10 p m yesterday until > q N -
day several speeches were made. Finally
RoBsier, losing patieucs. protested ngalnoe
the nnwiiliDgness OF the bankers 70 gunr-
antee the loan and their refusal 70 Fec09-
iiixe their OWE private fortunes and publlo
prosperity Ia the question, and he tAreotr
ssned 70 announces 70 parliament that to
government slone WAS ready to do e.
The speech produced great impression,
sid . syns1cate.sneiudin the kothchi1d6.
Msrlet. Andre. G.rod, Heine. H0tt1n9of,
che Credit foncier and banqne a Esoosspts
was formed 20 guarantee the loan. 1he
ssfesilt Lyonaise and seciete Gen<fa1n did
ftot Join the syudtcate, becan8e theY ~
Qutre funds themselves In view 0f tho
erisis. The panic II now practically endeo
and the Sums Withdrawn are being rs3e-
Eoklted In other banks.