New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1891-03-13
4 PARIS BANK IN PERIL.
SAVED BY AN ADVANCE OF $4,000, 900
FRANCS FROM THE BANK OF FRANCE.
TERMS OF THE sETTLEMENT-THE socIETE DIES
DEPoTs DE COMPLIES COURANTs WEAKENED
BY THE FINANCIAL TROUBLES IN LON
DON AND BUENOS AYRES.


| DON AND BUENos AYRES.
Paris, March 12.-The Societc des Depots de Comp
tes Courants, of this city IS in critical position
The soclee. bank referred to suffered acuely dur
ing the financial crisis in London and BuenOs
Ayres. At present il has only 1s,00O.0o0 francs on
hand with which 10 meet claims amounting TO $4,000.
900 francs. After long consultation between the
Societies directors and its executive OncalS, II was
decided 10 ask the Government to come TO the assist
ance Of the inperilled bank Consequently. NJ DonOn
the managing director. called upon VI. ROuvier the
Minister of Finance, and plainly stated the whole case
70 him. Finally VI. Donon asked NJ. Rouvicr to ad-
vance the societc the of 5O,OO0,OOo francs.
After making some inquiries to the financial
position the Societe VI. Rcuver placed himself in
| communication with tine directors Of the Bank Of
France, and. after giving them all the information
which had been furnished to the Ministry OF Finance
bv VI. Donon. asked the Bank Of France to come to
the assistance of the Socete The Bank OF France
directors. after some deliberstion. said that they felt
compelled refuse to grant the assistance asked for
NJ Rouvier then Informed VI. Donon of the failure
of his application to the Bank of France, and, with
the permission of the Director of the Socete des DcpoS
de Compte Courants. the Minister Of Finance convened
meeting of the directors of the leading financial
houses Of Paris The inanccrs held two sessions yes
teiday In an cndeavor TO bring about some arrange
ment similar to that which. in The case OF Barring
Brothers d Co., of London, saved that house from
collapse. They failed TO come 10 an understanding at
their first meeting. The second consultation resulted
in the Bank Of France agreeing to advance the money
required. The shares OF the societc have fallen to
$40 francs. "A decline of l3O francs in two days. .
The following is the basis Of the settlement decided
upon: rhc Eank of France advances G0ooOoO0 franc
10 the SOcete which sum Is guaranteed oE rue olls
Of the >ocicc the Soci.te calls for 3'o francs per
share from 1t, shareholders and the financial houses
jointly, guarantee the Of 100000 francs 70 the
Bank Of France. The assets Of the Socete Will lo
assigned for the payment Of the advances. II -
understood tha, the liabilities of the societc are under
GO.0OO.OO0 francs. -
II is stated in financial circles tha, the first reports
of the Socice being in difficulties were promoted by
hear operators on tht Paris Honr,e and thai when
these nmOrS first circulated the position OF The
bank was financially sound.
The news from Paris failed to excite the interest in
the stock market that Of the bear operators may
have hoped for Speculation hardly stirred either III
the of fluctuations in values or activity Foreign
houSes had adyiCc> Of q pertuibed condition Of the
French or English markets. and rule they de
scr.bcd the bank that is said 10 be in trouble com
paIavely unimportant The SOCctc dcS Dcpots ct
Complies Courant> organized In 1868 with cap
ital of GOOOOO0O francs. In 1877 the capital was
increased 10 SOO00.OOO francs. and the amount paid
up by shareholders is 2O0o0o00 francs. The bank j.
restricted in It's charter privileges To the re
ception Of deposits and the loaninG Of
| money National securities and commercial bills.
II tran>acts international business that would create
| such complications grew out Of the failure Of tho
| mercantile firm Of Barring Bro, ON TIN, account tie
Of the embarrassment OF the French bank excited
small interest among houses that deal In international
| securities. member Of a we'll known house which =
prominent in exporting gold said YESTERDAY: We re-
Ceived iniimations that The bank trouble iva
DAYS ago and the day after the rumOrs Confined.
! TODAY We have had 10 advice', 50 ! supporc there
has been settlement or arrangement that will
failure. The charters Of French banks usually
stringent but the directors Of the Union General
The rumors in Wall street were thai the bank had
been embarrassed by Operation. in t!c 'ecnrl;s Of the
the institution has exceeded its powers.