The morning news. [volume] (Savannah, Ga.) 1887-1900, 1889-03-30

LoNDoN's STOCK EXCHANGE SET
ELEMENT ALL RIGHT.


Russia's Success in Refunding Her 4
Per Cent. Loan Restores Confidence
Still Unsettled-The Feeling Against
Trusts Increasing in England
LONDON, March 29-The stock exchange
settlement passed without trouble. The
feeling was generally far more hopeful, al
though misgiving continued regarding some
If the French financial institutions. The
success of the conversion of Russian per
cent. loans into 4 per cent. consolidated stock
isrest ring confidence Applicants Tor new
stock are not likely TO be allotted over per
rent of the amount of their subscriptions. In
view of the impending prosecution by the
government of the Compton d'Escompte,
the directors Of that bank are reported to be
realizing on their private properly so as
70 lie safe in the event Of contingencies.
It is believed that the prosecution Of the
Societe Des Meteaux would prove abor-
five on the ground that there is no law to
prevent anyone from specializing at his
own risk and peril Strong efforts continue
to be made in parliament to induce the
government to legislate against the syndl-
cate Mr.. Smith, the government leader in
the House of Commons, has promised that
If the proposals of the members are formu-
lated he would consider them.
THE PAPER TRUST.
It is stated that a paper syndicate has
arranged the terms for the purchase Of all
the English mills. The newspaper proprie-
tors have consequently opened negotiations
with foreign mills for their supplies. A
large cons gnment of American paper has
arrived. Its price and quality compares
favorably with Engli-h paper.
There is fair prospect for a reduction
of the Bank of England note in April.
Morrison, kekewich & Co., having
settled with the creditors of Societe des
Meteaux are now cojointly creditors
and are actively pressing their claims
against the syndicate They will probably
be successful, the firm from their knOwl-
edge of the inner working of the ring being
able if thwarted to stir up muddy water,
the existence of which has hitherto hardly
been suspected.
RUSH TO BUY COPPER.
The feature of the week was the rush to
buy copper. At the opening large sales
were made, but appear to have satisfied the
market, and the demand has since then
greatly Stacked. The whole af the Paris
copper stock, 100000 tons, is held by the
Bank Of Francs, the Rothschilds,
the Bank of Paris and Baron
Hirsch, who, it seems clear, have
agreed to hold their stocks while the
markets continue dsorganize1. 1t is un
derstood that they have taken over the
stocks at a price about equivalent at to-
davis quotations. If the market improves
and becomes steady the stocks will proba-
bly, be placed on the market gradually. A
meeting will be held next week to consider
what action to take, but nothing will be
definitely arranged until after the Paris
settlement
THE FEELING AGAINST SYNDICATEs.
Meanwhile the feeling against syndicates
is increasing The American delegates here
have expressed their feelings strongly to
English fnanciers. The prevailing opinion
is that it will be better to leave matters t.
find their level. The market has
become wearied of trusts. and
the outcome of the position
will probably be reversion to the old state
of affairs, when the Anaconda aud Calumet
and Hecla mines will probably drown out
the others at low prices.
Silver has fallen, owing to an easier
money market in India, and also to the pub
lcation Of the Indian budget, which enables
banks TO judge Of the financial position for
the pear. There are no indications that the
market will improve, and the improbable
ties are that it will become easier.
CLOSE OF THE BoURsE.
The Paris bourse tonight closed rather
dull, dealers awaiting a settlement.
Rentes showed weakness. ItiSreDorte1 that
the directors Of Compton d'Escompte have
offered 20, 900 900 francs as a set off against
further liability. Credit C mpanies' Shares
became stronger during the week Comp
toir d'EScompte shareholders nave been
summoned to meet at tAe Cirque d'Havre
on April 20.
At a meeting of the directors Of the
Credit Lyonnars it was announced that the
concern held entirely aloof from copper
dealings 1t was also stated that the
profits of the company for 1888 exceeded
10,500, 900 francs.
After the effects of the Paris panic are
reported from different quarters NJ. Cong
nard, a banker of Geneva, has COM
mi,ted suicide. At Lemons, the center of
a great farming district, a large nura Der
have been thrown out of employment
through the bankruptcy of their employers
In one day 900 bills Of exchange were re-
turned unpaid.