The times. [volume] (Richmond, Va.) 1890-1903, 1890-11-16
LANDS BEYOND SEAS.
LONDON ALMOST IN THE THROES
OF A FINANCIAL PANIC.
On the Verge of Crisis Which Threaten
ed to Shake the Business World from
Considered over.

ed 10 Sbskc the busintrh NoFih ifoih
Centre to CIrcumference-Tbe Worst
Considered over.
LONDON, Nov. 15.-Baring Brothers a Co.
have been embarrassed for the past few days,
and their failure was imminent to-day until
relief came. which avorted crash which
would have shaken the financial world 10 It's
very centre. This relief came from the Benk
Of England and the Rothschilds. The amount
OF the Barings' paper guaranteed is
S75 10000 The Barings' assets on de-
preciated value show a surplus Of $40. 00OOO
scARY TINES IN LONDON.
The Times. referring TO the financial situa-
ton, says: The city has passed through
crisis verglng upon panic. Such tune ma
not been known since the suspension OF
Overend. Quincy & Co. We rejoice that we
are able to announce that the worst is over.
The Bank Of England has added 10 its histo.
ric services to the state and the commercial
ayerting what would haye been a la
mentable catastrophe. The Administration
OF the bank not only provided vast reinforce
ments 10 It's stock OF gold TO meet except lOnal
demands in the event Of panic. but also
stepped out OF the ordinary routine OF Dusl-
ness 10 prevent the downfall OF one OF lhe
greatest and most respected OF English Imam
cial houses which had for some days been
imperilled. and which, ii II had fallen. would
probably have brought down in widespread
ruin large number Of smaller but i'm COrtant
firms.
CRISIS COMING ON FOR MONTHS.
With the close Of this week eliminated a
financial crisis which has been gradually
coming on for months, although IT'S extent
was hardly fOreseen, even by the shrewdcst
capitalists. The mad lush 10 Withdraw
money from all sorts OF investments abroad, ,
some OF them good and many of them bad,
nd a. involving hest The tNfnN nn OF
many millions Of pounds heretofore held al
low interest In Great Britain, or invested IN
cOnsols, is at the bottom OF the great disturb
ance. The imitation eliminated ABOUT SIX
months ago, and OF late there has been a.
ardent desire 10 realize as there was form-
erly 10 invest
THE WORST OVER.
Your correspondent has the best authority
for saving that the worst Is over. and the
financial fabric OF Great Britain is mistaken.
fhe Bank Of England, which raised its rates
some time ago In order to protect its reserve
Is able and ready 10 guard the credit OF our
substantial firms and institutions, and the
directors at special meeting 10 day resolved
to take such action as circumstances might
require 10 prevent n panic. lhere y no
genuine cause for apprehension. Ii mas D9eh
Inevitable that certain embarrassments
would occur, and the end perhaps is not yet.
But a general panic is not even within the
possibilities
THE POLICE GAZETTE BELT.
The Police Gazette belt, which was impoi-
ted from New York for presentation 10 FRANK
Slaven, as the prize Of his recent victory over
100 McAulid, is now held by the customs
authorities In Liverpool until The ices lOr
duty have been paid on il. The solicitors
who have the case IN hand claims lts eNeInp-
tiOn from duty on the ground tnal III W'ts
paid before. when IL came over Tor pfesenla-
lion TO Kilrain, and also because II is n
trophy. should, however, the customs slll
refuse to deliver IL, the required duty VIII be
paid. -
SIR EDWIS ARNOLD.
Sir Edwin Arnold. the author OF the Light
OF Asia" and THE Iight Of the Void, mas
severed his connection with the Daily lele-
graph, and is now on his way 10 London from
japan. tits his intention 10 visit America
early in the new year
WHY lie DID NOT INTERFERE.
Right Honorable Lord KnutsfOrd, Secre-
tary of state for the Colonial Department, has
written a letter To Rev. Mr..BirchaI, I'M whlci
he declined 20 interfere 10 save Reginald
BirchalPs life on the ground that the GOV
erument never inteTfeTed with the admins
tration Of Justice in the Dominion of canada
ACADEMY OF LETTERS
Mr. Gladstone has written a letter TO the
papers in which he faVOrs the formation OF
the proposed Academy of Letters, as ne pc
lieves Il would improve elegance ana the
method OF using language.
PARNELL AND THE IRISH PARTY.
Parnell will not lead the Irish party IN
Parliament during next session. This, which
was once report, is now an asceTiained iact
lie has already made known his decision 10
.everal of his followers and this information
has been given by one Of the most reliable
politicians on the home rule side.