The morning call. [volume] (San Francisco [Calif.]) 1878-1895, 1890-11-16
the most intimate nature, but their relations
have not led to any complications which

the most intimate nature, but their relations
have not led to any complications which
will affect the Boston firm.
New YORK, Nov. ia Worlds Boston
special gives an interview with Colonel
Oliver W. Peabody, senior member of Kid
of the Earrings lie said: Nobody will
lose cent The Barings are all right with
the Bank of England behind them. Atch-
ison is not at the bottom OF the trouble.
The fact that Barring is Director IN tne
road Is not material. The firms securities
stock and bonds. The break in price was
simply raid encouraged by news of the
liq udati0n of the Barings, coupled with
weak market and tight money. 1t is not 8
failure, but simply an old and honorable
house going out OF business"
WEEK OF SUSPENSE.
The Evening Sun says: The facts In re-
tion which has prevailed in London the past
ten days may be summed up authoritatiyely
as follows: Owing to the extent of their
operations in railroads and lands in South
America the Barings have been more or less
embarrassed for over six months. Last
Thursday week the Barings, at the conclu-
sion Of business. decided that it was ini-
possible for them to continue, and FRIDAY
morning, the 7th inst, they so notified the
Directors of the Bank OF England, who I'M
mediately convened and startled the whole
financial world by raising the rate. Ihls
proceeding was most unprecedented, and
called halt in speculation at every money
center in the world. The present week has
been one of most painful suspense in bank
ing circles, and this feeling was reflected In
minor degree in New York, where only
few OF the more important houses having
European connections had been aware Oh
the real nature Of the difficulty in London.
The article goes on to say of Ell. .000, 600 fur,
nished the Barings, the Bank OF England
furnished 81, 100000, and the other members
Of the relief party the remainder. The Bar
ings are allowed three years to readJust
their affairs. All the actual peril is now be-
lieved to be passed.
ACTION OF BANK PRESIDENTS.
NEW YORK, Nov. 15.-It is reported that
a meeting Of bank Presidents of New York
is to be held between now and Monday
morning to consider the financial situation,
and determine upon policy Of conserva-
tism II events should justify or necessltate
joint interpOsition in that direction.
THE WORST OVER.
In an interview with Tribune reporter
this afternoon Jay Gould expressed the
opinion that the furry in stocks is about
over, and he looked for steady improvement
soon. He knew little about the Barings'
troubles, but did not think they were seri-
ouSly affected.
RFLIRF MEASURES.
LONDON, Nov. 15.-The total liabilities OF
the Barings amount to Ell ,000,00 while the
assets at present prices are valued at G24,-
100000 The Government has authorized
the Bank of Ensland, If necessary, to issue
an additional 100000 in notes, and will
suspend the bank act If requisite. The origi-
nal cause of the firms failure was Rus
Sia's withdrawal of several millions of
deposits on learning of the firms dealings
in Argentine and Uruguay bonds. 1t is ex-
pected incoming investors will gradually
relieve the strain in the market.
The Times, referring to the financial stu
alton. says: The city has passed through a
crisis verging upon a panic The worst is
over. The Bank Of England by prompt ac-
ton has aveIted lamentable catastrophe.
BY providing vast re-enforcements to its
stock of gold to meet exceptional demands,
1t also prevented the downfall of one Of the
greatest and most respected English fnan-
cial houses, which, if fallen, would have
brought down in widespread ruin a large
number of smaller but important firms.
The amount of bullion gone into the
Bank Of England on balance to-day was
81 ,0l2,000.