Fort Worth daily gazette. (Fort Worth, Tex.) 1882-1891, 1890-11-16


but general panic is not even within
possibilities.
SYNDICATE THAT CAME To THE RESCUE.
srecisl to the Gazette.
NEW YORK, Nov. l5.-We have seen
to-day the more important private
cables covering this extraordinary trans
action and they are, Us might I've sup
posed upon reflection, entirely reaseur-
ing as to London situation. If persons
interested would stop TO consider that
the credit OF the Bank of England and
the strongest financial institutions III
Great Britain has been substituted for
the impaired credits of the great houses
effected, II would be seen that no patch
work remedy has been thought adequate.
In taking charge of the assets and credit
obligations of the Earrings, the term of
three years has been reserved in which
TO effect the necessary REIMBURSEMENT of
their affairs. What has been done III
New York in case remotely parallel,
that of the North American company,
has been done in London in q much
graver emergency. That it has been
done thoroughly anu that the danger OF
the situation is past, we have the assur-
ances of the highest authorities
was y deartn of generally avaiiable
news of n trustworthy character on Wall
street to-day which was taken advantage
of promptly by the gentlemen who, in
these times OF difficulty, manufacture
evil reports. 1t may be said, however,
that by Monday morning much clearer
view OF the situation ill prevail, end
while the shock TO the financial system of
the world is severe il will be seen that al
actual peril has been obvieted
London dispatches announce that the
syndicate which has come 10 the relief of
Barring s. Co. is posed of the follow
ing: The Bank of England, 50 Geo 600;
Moses Glyun, Mills y Co., the Roths-
childs. j. S. Morgan & Co., c. J. Ham
bro. Morton. Rose & Co. end Raphael,
"a 900. 600, collectively.
The rumors which have been circluted
in regard 10 kidder, Peabody & Co. are
absolutely without foundation. The
house has between SIS, 600 900 and Sc
600, GOO of money loaned on call in New
York ana Boston. 1t is only an agent,
in the strictest sense OF the word, of
Messrs. Barring, and has no more to DO
with their affairs than any other New
York banking house.
NET DECLINES.
The important net declines Us COM
pared with prices week ago were:
AtchlsOn 4 il, Cleveland, Cincinnati.
Chicago and st. Louis + = Canada South
ern 3, ChesaDeake and Ohio 2's pre-
ferred G, Burlington and Quincy ., Chi
cago gas 438. st. Paul 80, Rock Island
AZ Northwestern . Colorado coal 81
Larkawanna 1911 Erie ls,, Lake Erie
and Western preferred 5S8 Lake Shore
q lead trust IS, Louisville and Nash
vile 4l8, Louisville, N, a. Il c. 10,
Manhattan 5, Missouri Pacific 8, Jersey
Central So, New England 4, North
American 1913. Northern Pacific G3s,
Northern Pacific preferred lI3t, Oregon
improvement Is, Oregon Short Liue 3,
Pacific Mail ~, Pullman 49,. Reading
l15, Richmond Terminal - Richmond
Terminal preferred ., sugar trust AZ
Toledo aud Ann Arbor 1881, Texas Pa
cifc 218, Western Union 3$8, Wisconsin
Central 4 =.
MEASURING EFFECT.
LONDON, Nov. 1.-THE Times in an
editorial referring to the meeting of
prominent bankers of London, held at
the Bank of England last hight to con-
slider the proposition of large financial
house which was in Psris. says: ii !
fund was formed SO that the |
difficulties of the embarrassed firm were |
arranged.
The Pail Mall Gazette. referring to the !
large financial firm which was reported |
10 be in difficulty, does not mention the !
name of the firm, but says that the |
trouble mainly lay in its South American |
commitments The sum guaranteed by |
those who come to the relief of the frm |
Nha
'eassuring affect.
NEW YORK POST IS COMMENT.
NEW YORK, Nov. 15.-The Evening
Post in lis financial articles says: About
hree months ago, when the Argentine
evolution first began to seriously
cripple the resources of financial houses
which were floating various Argentine
ecurities and enterprises, and on ex-
animation of the assets and liabilities of
Messrs Barring Bros. showed yalua-
ion of assets which left a clear balans6
If ELS, 900. 600 over and above all lisxM-
ties. The shrinkage of about Ell 600
100 in three months shows what tire /
nendous strain London finances had
,een subjected to. AS for the prospect
# resucitation of the value of these
Argentine securities, it is good. South |,
x
have been uudertakeu-sDy
english capital, have natural resources |
II such enormous value that in o. fsN1
ears they will pay, and with the resiio-
tation of these will also come the resto-
alton Of value of all Argentine securf-
les. OF course u majority of the
,eopls will say that the fact
hat a great house like the Earrings had
o BIZ assisted is only mild way of say
ng they have failed, but this is not so,
hey and their South American enter
rises will be sustained by the bank OF
England and by some of the greatest
houses IN Paris. In fact, those
argentine schemes were originally I'M
ertaken to a large extent by French
ankers, whom 1t is believed will find
his their opportunity for regainiug in
interest that which they lost by COMPETE
ion Of English fnanciers. The support
f capital will before long restore the
alue of Argentine securities.
CRISIS AvERTED.
LONDON, Nov. l5.-The Times, refer
1g to the financial situation, says:
'The CITY has passed through the crisis
reated by the threatened panic. Such
time has not been known since the sus-
ension of Overend, Quincy & Co. We