The morning news. [volume] (Savannah, Ga.) 1887-1900, 1890-11-28
YOUR CANE, GENTLEMEN
The Financial Status OF the Company
Running the Gambling Houses
Erorn TIE Iondon Tirnes.


From the London Times.
MONTE CARLO, Oct. 29.-The half yearly
general meeting of shareholders in the
Casino company of Monte Carlo-or, as it
/ STYLES itself, the Societe des Bains de Mer ct
/ Cercle des Etrangers-was held this after
noon. cannot reproduce the balance sheet,
nor can furnish an exact rep rt Of the re-
marks Of the chairman OF the company to
the shareho dePs; but l may lay before
| your aaders the result of an interview
which had yesterday with that gentleman,
| together with other details.
The society holds two meetings per year
which are summoned through this form of
notice printed in its official organ:
The shareholders Of the Societe Anonyme des
Bains de Mer ct du Cerce des Etrangers de
Monaco are hereby summoned TO attend gen
eral ordinary meeting on Wednesday, the 18th
inst. at O'Clock in the a ternoon at the Offices
of the society in Monaco The general assem-
bly, is composed of all holders of 200 or more
new shares in the society. who have deposited
their title deeds, or the receipts thereof, at the
Offices not less than eight days before the date
of the meeting.
The original value of the new share here
mentioned was 500 francs; to-day one is
worth 500 francs OF 1000 francs; an old
share was worth 100, 600 francs, and during
the time OF "Pere" Blanc, the founder of
the society," its flu 1ds were conferred in COM
parstively few hands, chiefly those of his
children, relatives AID friends. The ever
present fear of interference with the gam
bling, the gradual decline in the value of
| property on the Riviera, led to a reeonsJitu-
| ton of the funds and a new issue of 10000
shares at 500 francs each, thus raisi & the
| capital of the society to 10000 600 francs.
| In this way the number of shareholders was
| considerably augmented, but, as will be
! seen from the condition in the above notice,
| a voice in the council OF management re-
mai IS at the same value-namely, 100 900
| francs. By far the largest number
| of the original shares are also still in The
| hands of tine Blanc family. Four years ago
| il was decided to establish a reserve fund,
| and since that time a contribution of nearly
| 1000, 900 francs has been made to it each,
year 30 at now it amounts to ESQ, 600, or
| 100000 of francs. / was assured by the
| chairman that 1t is intended to contri-
butte 100000 per annum for the next
| twenty-three years-he takes it for granted
| that the Casino is on tie same basis as the
| Castle of Monaco-at which period the
| con cession granted by the late Prince Charles
will expire, SO that at the end of that time
| the society will be able to liquidate its af
fairs and reimburse its shareholders even
with Or fit. In addition there are build
ings and land valued at various sums, from
$500 900 to e. 100000, but these, believe.
DeIonR al noSb enCIEely 10 memueTS OF
the Blanc family.
Now as to interest paid to shareholders.
Each share bears fixed rate Of interest of
25 francs per annum Tor per cent. on the
original value), payable III November, while
what is known as the dividend is paid in
May. In 1899 the total revenue per share
was 155 francs; last May it was 100 francs,
and l am assured that if this season proves
to be as good a one as the last it will reach
or chs neyt
May, or about So per cent. upon the original
value. and about 10 per cent. upon the pres
ent value.
The cost of the extensive alterations and
the new wing just added has been drawn
from the profits of the last two years. A
number or these shares are now on the
market In view of the increased pros
perity in trade, a boom is being made in
their favor by many holders who have
bought in recent years. Doubtless they
think this good opportunity for selling
out before something happens to depreciate
their value. Naturally, the owne' of such
stock is filled with fear continually. The
price now being asked for $50 share is
e65, last week it was $50, next week they
say it will be e70.
The total income annually from the
tables is a out y 000, 600 francs, or 1900, 600.
roulette table shows an average daily
profit of from eco to $3.50. though reck-
less player putting down maximum stakes
will often send up the winnings to GO, 900.
93, COO, or even more than that. For in
stance, last season l saw a young English
man placing 5000 francs on pdSSe at each
end of the table. making total stake of 94S).
He did this six times in succession: each
time nldnque won, making total loss in
about quarter of an hour CT e., $50. This
cleared out bis capital until he sent home
for more" Eight Of these roulette tables
were in action throughout the busiest part
of last season, so that very good idea may
be formed of the daily income.
Two tables only are now devoted to
trente-et>quarante, as the card game offers
more eq al chan ,es and makes COMPARE
lively little profit Consequently, the number
of these tables has in recent years been
gradually reduced and replaced by the more
profitable roulette. The fac lIties for
patronzing this game will be still further
increased when the two rooms of the new
wing are reopened on Nov. Is next.
They are still in the hands Of the decora-
tors
The expenses of the administration, how
ever are enormous The Prince of Monaco
has first claim to 100000 francs or ESQ.,
600 per aunum. for the concession to play.
But, in addition, the society is bound by
the contract made by Blanc with the late
prince-which, as above stated, lasts until
the year 19l3-to bear practically the whole
of the expenses of the government of the
principally, both spiritual and temporal;
the bishop and clergy and the religious
orders, the college and schools. and the law
courts are all at the charge Of the Casino;
equally the cost Of municipal government
for the MonagesQues pay neither rates nor
taxes-the garde d'hOnneur of the prince.
the police, and the pompierS. 10 short,
the prince simply supports the private
honsehold the ba k pays the rest. The
society also spends large sums yearly N
| prizes at the carnivals, races, regateas, and
| other fetes at tire Riviera resorts. Alto
| gether the debit of the Casino account can
not be less than 100000 per annum.
| During the past few years au entire
change has come over the style of conduct
ing the Casino. The society has developed
business like policy Of the most careful
and economizing character. The beautiful
| spirit of ldrgesSe which prompted all the
actions OF NJ. Blanc in his Homburg and
early Monte Carlo administrations has
been completely stifled, and in its place we
find an amount of parsimoniousness worthy
Of the most hard-pressed dealer in second
hand wares. The older rooms are shabby,
badly ventilated, and uncomfortable; the
attention paid to visitors is of the most I'M
satisfactory kind-nowadays you are even
expected to pay for the cloak room
and complaints reach mo regularly Ct the
way in which the patrons of the tables are
treated by the employees The politeneSs
! of old vapichaS ha Onoa raSnaotFt.I IF