Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1889-03-09

sources continued to pour 10 he exchanss
relative 10 the syBdIcste's POSITION fsoh
London ut O'Clock the following caoie W.
received: The position u c0nsidere1 AZ. ~
iieyed. although prieces are lower aed tne
markst now steady az decline. Three
months nominal sales were made Tor nf.
livery on April 23d at Ej2, MAY eJiaES5.
Later the following was received: lno
day has brought no improvement ID tne
situation OF toe copper syndicate "hic"
tried 10 corner the world.' After spas
mode rise the market sunk back TO slf.lv,
Operators 10 London predict that The eoa
Of the copper trust II near. Any seaeh'Ss
devised 10 keen Il mp in the eyes Of the puu-
lie arc merely process TO arrange Tor an eas'oI
llouidafton. II is sppafeht that thesc
scientific. nave been forced By arilhcla'
mean. on the continental markets and re1li'
z,fiors are inevitable. In reference 10 tne
situation q prominent bear operator. wbo ~
one tine he'd very close relations win zoe
syndicate. pr0ptcsled the early do@nla'i u
French eoTuorotions. .
Even n an the mines stopped pfodnciug'
iilis broker held. 10 would not change tDe
result. ss the present stock was - Var 10 ~
cess OF the consumption. The taiiuTe OF ~
sgndicatc. be thought, would not mnlefialv
affect the American market bccsuse tneie
were such amounts oil metal held here. ~,
ANTICIPATED. be acded, that prices would 'a,'
hail below tie present quotations, wh"h
would sf0p production here, and az spo.
stock would Bee bought by the LONDON
houses. which had plenty Of capital, anu
held % Tor % r'se.
John Stanton. treasurer Of the Cenis-l
Mining IonpIny. one o. the American
mines With which the syndicate has con
traced, expressed his opinion. lie sa'u
that only ls.f week payment bad been re-
ceivcd by his company from the syndicate
and Il ne had an Immense quantity OF cop
por on bend ready Tor delivery al pre-eo' ne
would not hesitate 10 turn It over 10 Tue
Fwnchmen.
stanton thought that the fact that fhe
Bank 81 France rad advanced the French
Banking Company, n large proportion 81
whose security was syndicate stock, GlOOp' :
600 should establish faith in the standing oil
ne copper syndicate.
Bosf0N. March s The directors Of sll the
Ro.tou copper-minirg companies have rali-
Grd the action Of their executive officers N
New York with regard 10 the French syn
dictate.
fPv ,pe'o-American cable 10 the Dispatch.l
PARIS, March s.-The Bank Of France has
advanced 100. 000, coo francs 10 The Compton
dEscOnntr. witch i sufficient to cover Toe
amount Of deposits withdrawn rom the lat-
ter bank. The English copper companies
have accepted the proposal made bg the cop
per syndicate to reduce their output during
1889 20 per cent and 10 postpone deliveries
tVO months. The troubles Of the sociele
des Ma,,ux arose from an interruption OF
harmony inside the syndicate. The collapse
Of the syndicate il not believed 10 be likely.
The firms interested are OF such high stand
ing thai they would not DO willing TO have
their names connected with the iinanclsl dis
ester. Rothechlds. II not directly interested
in the svndicsic, have f0stered II by proxy
and they would be unwilling TO have any
concern with which they are connected col
lsp-c.
LoNpoN. March S.-The Stock Exchange
relapscd To-day and closed heavy on Conti-
ucnials. AZ the Metal Exchange copper
closed 1t Gjj. a fall Of 81 ,Iuce Yesterday
and go ON the week. 10 Is believed the
market Is touching bottom. 1t Is reported
That a large order TO buy was received to-
NIGHT, and it Is believed that heavy buying
VIII follow the first turn upwards.