New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1890-11-18
MORE MONEY FOR BARINGS.
BOUND TO PREVENT A CRASH
LONDON BANKS TO GUARANTEE FIFTEEN
MILLION POUNDS.

ANOTHER DECLINE on THE LONDON EXCHANGE
FOLLOWED BY A RALLY-UNEASINESs II
BERLIN OVER THE OUTCOME
OF THE TROUBLE.
LondonJ Nov IA representative OF tho
Associated Press to-day visited the house OF
Barring Brothers & Co. Everything was quiet
about their place Of business, and there were
no internal or external signs Of disturbance. Inc
members Of the firm stated that all their accept
and other liabilities will be met as they fall
due. They also said that the position OF the
firm. with the Bank of England at its back, y
| stronger now than ever before.
The banks supporting the Barings now pro-
pose to guarantee the whole fl5,000o0o OF accept
ances. The management Of Barring Brothers u
expected to 80 into commission Lord Revei-
STOKE the head Of the firm and director OF tho
Bank Of England, withdraws as chief. although
he will continue to advise the other members OF
the firm. The other partners the Hon. John
Barring, also director of the Bank Of England:
the brewers Guinness, Mr.. ITodgson, director
of the Royal Exchange Assurance Corporation:
Mr. .Halhed. of the Marine Assurance Company;
Mr. Gair of the Union Marine Assurance Company:
the Hon. Henry Barring, half-brother Of Lord
Northbrook, and Henry Mildmay, all men Of solid
financial repute.
1t is stated that the guarantee fund amounts
SO far to EI4,OOOOoO. kilograms are being con-
stantly received from home and foreign houses
offering help.
At 30 p. N. to-day foreign securities on tho
Stock Exchange were depressed. Consols were
steady American secucties were weak. The
rate of discount in the open market was nominally
the same as the Bank of England rate.
As compared with Saturdays closing, prices at
- 80 D. m to-day showed no change for, both
consols for money and for account; no change
for either first or second mortgage Atlantic and
Great Western trustees certificates, a decline
OF 3-s for Canadian Pacific, a decline Of 3-s for
Erie a decline of 1-2 for Erie second consols
decline of 1-2 for Illinois Central a decline OF
Is for ST. Paul common. decline OF l-2 for
New-Yorll Central, decline OF Ia for fennsyi-
yania. and decline Of l-2 for Reading.
DISPATCHES received at p. IN. from the Con-
tinental bourses showed that they were all weak.
After that foreign securities and American rail-
way securities were latter and prices continued
IN recede Consols and English railway Securi-
ties were steady.
As compared with the g 80 prices the closing
prices showed an advance Of 3-l6 for consols Tor
money and of Is for cOnsos for the account,
decline of IA for Atlantic and Great western
first mortgage trustees certificates; no change
for ditto seconds: decline of IA for Canadian
Pacific: n decline of IA for Erie no change for
Erie second consols Illinois Central; decline
| of l-2 for st. Paul common; no change for New
| York Central; decline Of 3-s for Pennsylvania.
| and a decline Of IA for Reading
! After the official close business on the Stock
Exchange had decidedly better tendency, prices
rallying from the worst points, but still leaving
general decline for the day. Speculative deal
|
! view of the uncertain and critical condition OF
| the market Some good investment business
+, greatly assisted TO modify the depression. and
street dealings on late continental telegrams were
| chiefly purchases by investors who had been at
tracted by the low level Of the quotations.
| The leading feature of the day has been fur
ther fall in River Plate stock. , Uruguays drop
ping to and Argentines to 4.
The fall in silver influenced decline in rupee
paper of l-o, while American railroad securities
fell of 1-2 to 5-s, and Mexican railroads de-
clined IA.
The troubles Of Barring Brothers e. Co. caused
less anxiety in Paris than in Berlin, where anxious
fears were entertained regarding the outcome Of
| their difficulty.
Berlin, Nov 1.-THE Bourse was unsettled to-
day and there was a general decline, especially In
bank securities Deutsche Bank closed at l50.4o
| against I5s. go on Saturday. Roubles closed az
| 243.0O. Austrian Credit lost per cent for.
| eign securities show average decline OF Ia
! per cent The dominant influences were adverse
| rumors regarding Argentine and Uruguay secun-
| ties and distrust of the position in London.
Paris Nov. lion the BOurse to-day Irregular
| prices and a depressed feeling prevailed untl
toward the close, when there was some recovery
The fortnightly settlement proceeded and contain
| goes were moderate. During the day FOREIGN
| securities fell l-2 TO Ia per cent. Rio Unto
| declined l3 francs
The press eulogzes the action OF the Bank OF
| France in assisting the Bank Of England by send
| ing gold to that Institution.
NJ LEROY -Beaulieu, the wcll-knOwn french
| economist and editor of the Economists Fran
| cas. in an interview to-day declared hat the
| London market would not be gravely affected by
the financial crisis arising from the diffculties OF
| Rarinp Brothers g. Co. He further said that tho
present trouble would not compare with the French
| financial collapse Of 1882. The Argentine Re-
| public would I've a great sufferer. She would be
| compelled 10 suspend the payment Of coupons on
her debt France, he said, was only inte rested In
! n secondary degree The trouble would only re-
tord her arrangements with the Argentine Republic.
On the other hand. it would throw into relief the
| solidity of the French market, the prestige OF
| which would regain its Incompatible lustre.
| The Hague Nov. 1.-THE Bank of the Neither
| lands has increased its rate or discount rom
! 3 1-2 TO per cent.
| Lisbon. Nov H." Las NOvidades' says thae
| Portugal owes the Earrings fsOO.O0O
| ,-xuDrNcrc nC A pEJ-TEP STrI'ATTON