New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1889-03-23
HEAYY LOSSES IN ooPPER.
THE PARTISAN sysDIcAIE; WILL DBoP
ABOUT sso.ooo,eoo.
T1NANcIAL RUIN or THE AUTHORS or THE
SCHEME MISUNDERSTANDING rpN TIE
DEIEGATRs from AMERICA 1s,cTIoH
SALES or COPPER In non H0ss


scHEME AEEoUNcEp- WAITING NON NM
DELEGArRs BaoM AMERIcA xssyTGoE
SALES or COPPER In ron HDE
London. March go Copper stdlfi ionopojizss the
attention Of fnanciers, and in France has kbe-
come political factor. The year 1882 win
justly claim hereafter to be known as the copper
year. Taking copper at so pounds per ton, Il is
calculated that the syndicate win lose 5000, 600
pounds. Yesterday in the French Chamber Of
Deputies the Ministers described the authors Of
the syndicate as ruined. The Societe des Metaux
share holders are represented rs cleaned CUT Man
ager Secretan describing himself as emeFging from
the speculation as naked as worm. His col
lection Of pictures win either be sold to baron
Hirsch or mortgaged TO the Bank Of Ffance. TIE
French Government Is acting cautiously ncgarding
the reconstruction Of the Compton d'Escompse,
which is nicknamed by Parisians lie Psnama
des kiches.' M Rouvier. In the Chamber Of
Deputies, while admitting that commercial circles
deemed the formation Of the Comptoir Escompte
necessary. declared that the Government would
limit their participation TO advice, leaving the
Bank of France fun freedom. Tie Compton
dEscompte's original paid-up capital and reserve,
together with 100000 pounds, are regarded as
lost
The statutes Of the new Compton dEscompte
stipulate that it's business shall be confined to dis
count and advance operations and its functions
limited to acting az an intermediary between
commercial firms and the Bank Of Franco
The capital is divided into 10000 shares Of
500 francs each, half Of which is allotted to
original shareholders at par, and the remainder
subscribed by the financial syndicate Societe
des Metaux shafcs rose to-day on reports that
the Bank of France had agreed with the principal
copper warrantholders to take no decision until
the delegates Of the American mines arrive, and
TO make final effort 10 bring about union
among the mines before making forced sales.
English coppcr-mining delegates conferred to-day
with Paris warnnt-hoders. NJ. Moreau has been
appointed judicial hquidstor Of the Societe des
Mstanx.
The London copper market closed brighter
to-day 1t is believed that consumers win shortly
be compelled to buy in order 90 Gil actual gaps
Sixteen hundred tons were sold to-day, ranging
from 30 81 to Al I-2; the closing rate. Much
sympathy is expressed for Morrison and kekew1ch,
who are acting as the London agents Of the
Societe des Meaux. BY the rules OF the Metal
Exchange they are liable IS principals. The
creditors are disposed to accept favorable
The Paris Bourse closed firm to-day on notice
that the Russian loan would be issued on March
credit companies' shares were higher
The London Stock Exchange awaits incidents
calmly. The opinion Strengthens that the coming
Paris settlement VIII not produce any big collapse
the heavy losses falling on firms abb 70 meet
them. Bull accounts have been largely reduced
s sapy Sy spos a %
at auction to-day. % The D. prices ri s sessed S rsnSed
from a pounds shillinEs pence TO az pounds
Another i ,6oo tons sold for the account Of Nor
rison, Kekewich q Co; Ordinary brands brought
70 IS pounds IL shiIiings pence. and Waliaro 80
Paris, Mach az--Ths .yournsI drs Dshass
s sor af Lee ssess sa Ms appIg q sSs Tibunsi M e
summon q meeting Of the shareholders with
view to bringing about jadicial hauidation Of
The Boufse closed firm. Rio Tfnto shares closed
az BIC francs. and Compton dEecomPte shares at
afer falling to % francs 80 confines, rahied 20
40 francs.
The copper market yesterday opened somewhat
stronger, with evident inclination the part Of
buyers TO trade, but transactions were recorded
on the floor OF tho Exchange, although there were
private sales amounting to about 10000 pounds ob
casting copper, at average price Of is cents. On
tho Exchange there stronger tono and bids Of
Is cents ex-call offered for Baltimore Oxford
whe II cents was bid and II "a cents asked for
any brand Of casting metal The market gained
much OF its strength from sympathy with london,
where sales OF 500 tons 90. NJ B." were recorded
at prices ranging from al to so pounds a forced
sale at auction by the Union Bank of metal which
10 was said advances had been made to Morrison, |
Kekewich Co. prominent dealer said yestor. |
day: London has found that they sell moro |
wind there, and the ar5sies to market
persons who want metal get It by paying tho |
actual market value which Is actually above current
snS h oTGs s % aeo @ es sws so s%S
S in Strong hands The market closed strong at
about one cent advance.
COLONEL HUGHES-HALLETT RESIGNS.
london, March 22.-Colonel Hughes Hallett mem
Der for Rochester, has resigned his seat in the House
Of Commons.
Colonel Francis Charles HughesHalett is known
ON this side Of the ocean by Of a recent visit
here and the notonety which attached 10 his name
because of scandal, in relation 70 a young woman
who was his ward, in which he was coneesncd about
q year ago. He is about fifty years old. and has
seen service in India in the Royal Hcrse Artillery
and he now commands tho Second Brigade, Southern
Division, Royal Artillery lie was educated at Bngh.
ton colIege His fathers name was Hughes until ho
was Obliged to assume the name Of Hallett In connee
ton with the Stitch Of baoonS property at Little
Dunmow Essex, which was bequeathed to him.
Colonel Hughes -Haliett Is Conservative and In 1885
Sis Iibsra, opponent AS the scat was formerly
held by . LIBERAL, It is not improbable that this
majority Of 241 can be overcome by the Homo Rulers.
AN AMERICAN SCHOONER SEIZED IN CANADA
Ottawa Ont March 22.-The customs officer at
Grand Manan, N. B., hiss seized the American fishing
schooner W, II Toye for landing dery without re
porting TO- the authorities OF paying duty on she same
SUICIDES AND DUEIs AT MONTE CARLO.
London, March ga Genoa paper states that
70 far This year there have been fifteen duels and
sixteea Suicides at Monte Carlo.