Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1891-11-15
ONLY BUBBLE BANKS.
First-Class Financial House of Berlin
Not in the Scandal.
BUT THEIR CREDIT Is IMPAIRED.
The Emperor is Roundly Denounced BY
the Press of Bavaria.
no TRICHINE IN THE INSPECTED PORK

| COPYRIGHT. 1891, By THE NEW YORK ASSOCIATED
! PREss.l
BERLIN, Nov. 14.-Despite the excited
| articles in the newspapers, no financial
crisis exists here, and notwithstanding the
| failures of the private bankers, Hirschfeld
& Wolff, Friedlander & Sommerfeld and
the house of which Herr Mas was the
head and the trouble threatening other
houses of the same character, the position
of the large banks and the greater financial
firms remains solid, and public confidence
| in the general situation is unshaken.
The run of depositors on the private
banks continued steadily during the past
week, and has been accelerated since the
surrender of Herr Mas, but the money de-
posits and securities of all kinds which
have been withdrawn from the smaller con-
Germs have been deposited with the larger
financial institutions.
The Bourse doubtless experienced q
severe shaking up, not through losses aris-
ing from the failures, for the firms men,
toned had no large engagements with
bankers or operators on the Exchange, but
ualnlN lue IcNeldtlOu VI
The Flash Nature of q Prosperity
which was supposed to be permanent and
genuine. In each case the collapse affected
depositors dealing with second or third
rate bankers paying high rate Of interest
on their deposits.
Under the prevailing system private
banks take on deposit shares without guar
A. 1,&
merely an equal value of the same stock.
The system has been repeatedly denounced
as tending to encourage fraud, and the pub
lie has been warned again and again against
intrusting deposits to men able to use them
in their personal speculations The present
developments cause no surprise among lead
ers in high financial circles, who have long
expected that the bubble houses would
burst
Naturally, though there is no panic, COM
mercial depression is co-existent with the
decline of values on the Bourse. The
period of general imitation, which reached
climax last year, has been succeeded by a
persistent reaction downward. Since this
reaction set in shares of banks of the high
est repute have gone down to from "a to SO
per cent. These striking figures carry their
own comments. The sum of the matter is
that the business community, though await
ing brighter times, feels assured that the
basis of the business banks and of the bank
ers is strong and safe.
Mass Also Lived Like a Prince.
Herr Mass, the self-confessed embezzler,
lived with the ostentatious extravaganza
displayed bv Herr Wolff. He had two
houses. one at Charlottenburg and splen-
did residence at Swinemunde. He enter
tanned extensively, and his grand wine
parties and banquets were the subject of
much comment.
As usual in cases of this kind, the cry is
raised by certain journals that the Govern
ment ought to intervene as a special provi-
dence for investors. The GsInaanid demands
that the Government shall assume the
supervision and regulations of dealings on
the Bourse. The Krc,tz Zeitaosg declares
that half the banks in Berlin are rotten, and
urges the Government to institute an in
quiry into their condition. -
The Emperor Is Severely Criticised.
The Municipal Council of Munich have
questioned the Burgomaster of the city as
to the truth of the report that Emperor
William, on his recent visit to Munich, in
scribed his name in the Golden Book of the
CITY, adding the words Supreme lex regis
voluntas. The statement was admitted to
be true by the Burgomaster. The Bavarian
press protests strongly against the assump- !
tion by His Majesty of prerogatives never
conceded to Bavarian sovereign, and the
organs of the Freisinnige party profess to
despotic ideas of the Emperor, which con-
tact with Parliament must correct.
Prince Bismarck and the Reichstas.
The Reichstag will resume its sittinps
Tuesday 1t is not yet known when Prince
Bismarck will appear in the House. His
health requires careful attention and he
will undertake a Parliamentary campaign
only when assured of his ability to do so by
his physician.
As soon as the business of the session shall
have been opened the Socialists will call up
the matter of the Imprisonment of Deputy
Schmidt by the Chemnitz tribunal. The
claim will be made that the action of the
tribunal constitutes a violation of the law
insuring to members of the Reichstag i'm
munity from arrest during the sessions of
that body.
That Case OF American Trichine.
An official inquiry into the report that
American pork infested with trichina had
been imported into Dusseldorf, brings out
the fact that the diseased pork did not bear
the stamp # American inspection. Con-
sequently, there will be no interference
WIN Tue stuHllSSiOh VI aLHerlC8n pork, Cne !
healthy condition of which has been certi-
fed to.
The War Department has concluded its
experiments with American corn, and has |
decided to recommend the use by the army |
of bread made of equal proportions of corn |
and rye. 1t is belseved that the Depart |
ment of the Interior will follow this ex- |
ample. Hon. William Walter Phelps, the
American Minister here, antici pates that in |
of this decision the German |
markets will be thrown open for the admis- |
sion of many millions of bushels of Ameri-
can grain.
INVESTIGATING THE RIVIERA, |
To Ascerfain n It Really Has n Repe6c3~I |