New-York tribune., 1891-03-07
THE ARGENTINE'S MOVE.
RUSINESS SUSPENDED FOR TWO DAYS. BY
A DECREE
THE PANICKY FEELING THE CAUSE ASSIGNED
"A SYNDICATE TO LEND THE GOVERNMENT
TWENTY MILLION DOLLARS-THE
TAX ON PRIVATE BANK DE-

POsITS TO BE ABOLISHED.

POsITS TO BE ABOLISHED.
Rueno, Ayres March 6.-The Argentine Gov
,rnment issued decree yesterday which suspends
business on the Bourse in the Custom House ana
In the banks for two days, to-day and tomorrow
This decree was issued in view of the disturbed
state of trade the financial anxiety prevailing. ana
the general feeling of panic which exists in all
circles. The decree announces that the days men
tioned are 10 be observed holidays, but the
rea reason for the suspension of business is to S
IN save the Provincial Bank, about which so much
has been said recently from financial disaster
There has been a run on the bank Tor SeNeidi
dove and il is believed that it did not dare 10
opep its doors to-day.
A syndicate composed of 120 merchants mas al
RANGED plan by which it will lend the Argentine
Government the sum of $20,000,OOO. Cohse-
ouentlv the Government has decided thaC io
fresh issue of paper money will be made' anu 'n"O
the tax of per cent recently LEVIED OH al u'-
posts in private banks will be abollshcu'
Senior LOPEZ the Minister of FlIVnce mas IT,
signed He will probably be succeeded ny 0ehnoA
Wirburra.
Paris. March 6-I>ispatches received here from
Buenos Ayres say that 1t Is hoped 'i"U '",
two holidays to-day and tomorrow ahho"n0'u
by the Government will facilitate the settlement
of the existing commercial and financial oiiii-
oultias The reports also say that the general
opinion prevails that forced paper issue Is
inevitable.
London. March c." The Standards hnanclal
article to-day referring TO the firm which Is salu 10
be in trouble declares that its support oy inc
trust companies depends upon the pending lhVes'l-
cation into the condition of the firm by accouh-
tants involving the delicate question OF Valua'oh
of South American securities.
Although there have been rumors OF late regarding
,be spation Of financial affairs in London the New
York stock market gave little response to them uh'
YESTERDAY There increase In the acuNl'y ol
speculaton but prices fell away. For a time theIc
was free circulation of dsquletlng reports anu 'hc rs
rumor of the suicide in London was to the enect ti
the head of the large banking house OF Cout's w.
had taken his life The authentic cable dispatches eA
nIaiped that the sucide had been committed by junior
member of the firm, a yOung man, and 1t was not oe
Ieved that financial troubles were the cause. ih's
tended to alay the eXtravagant ideas OF possible run
on the banking house and the stock market railleu
slightly from its extreme depression. Inc la'er us
patches telling of the situation in Buenos Ayres were
construed as favorable the announcement OF tie ell
forced HOLIDAYS in the Argentine capital being offset 10y
the news that the Government had been assisted by
loan OF S2OOO0,000 from the merchants III was u'o
general opinion of houses which have close European
connections that large part OF the disquleng rnors
in London were the product OF spectators VINO deSeu
to depress prices
There were no further applications for gold for eA
port at the Assay Office yesterday. theory was Du
up by some persons that the reason why gold had not
been ordered because of the practice OF te ASSAY
Once In withholding all applications for bars 70 tie
director of the Mint until after p m SuPeriniepaen,
said practice was Simply 70 lnlnIHZe
the iabors of the of the Mint and OF the Treas
nry Department In formally passing upon requests oI
cold hars No effort was being made to obstruct an
Outward movement of gold and H. IN order TO gss Any
Ssv he Mr. Mason would transmit the customary teic
eraphc request to Washington before O'Clock If 1t was
desired.