The morning news. [volume] (Savannah, Ga.) 1887-1900, 1891-11-15
BERLIN'S BANK BREAKS.
TIE EXISTENCE OF A FINANCIAL
CRISIS DENIED.


The Larger Banks and Commercial
Institutions Declared Solid The
Bourse Given a Severe Shaking Up.
Disastrous Decline In the Value
Of Many Securities-The Press Call
ing for an Investigation.
Copyright, 1891, bv the N Y. associated Press.l
BERLIN, Nov. 14.-Despite the excited
articles which have recently appeared in
the newspapers proclaiming financial
crisis here, no crisis exists, and. notwith-
standing the failures of Private Bankers
Hirscnfeld & Wolff, Frielander S5 Sommer-
field and the house OF which Herr Mass was
the head, and the trouble threatening other
houses of the same character. the position of
the large banks and greater financial firms
remains firm. and the public confidence
In the general situation is unshaken. The
run of the depositors on private banks has
continued steadily during the past week
and has been accelerated since the surrender
of Herr Mass. but the money deposits and
securities of all kinds which have been
withdrawn from the smaller concerns have
been deposited with larger financial institu-
tions.
EFFECT ON THE BoURsE.
The bourse, doubtless, experienced a So
we're shaking up, not through the losses
arising from the failures, for the firms men
toned had no large engagements with
bankers or operators on the exchange, but
mainly through the revelation OF the flash"
nature Of the prosperity which was supposed
to be permanent and genuine. In each
case the collapse affected depositors dealing
| with eaNODd r. fhir1 IA hanlara navinu n
high rate of interest on their deposits. I'm
der the prevailing system private banks
| take on deposits shares without guarantee
ing to return the identical stock, but merely
an equal value of the Same stock. The
system has been repeatedly denounced as
tending to encourage fraud and the public
| has been warned again and again against
| intrusting investments to men able to use
them in their personal speculations.
KNOWING ONES NOT SURPRISED.
The present developments cause no SUR
prise among the leaders in nigh financial
circles who have long expected that the
bubble" houses would burst. Some firms
of greater Importance than any which has
yet collapsed, finding that the run OF the
public was threatening their existence
have submitted statement TO large hnan-
ciers, and are obtaining assistance from
them to meet calls made upon them
mercial depression is co-existent with the
decline of values on the bourse.
DISASTROUS TUMBLE.
The period of general imitation which
reached q climax last year, has been sue
ceeded by persistent reaction downward.
| Since this reaction set in the shares of the
Disconto GeselIschaft, bank of the highest
repute, have gone down S3 per cent, the
stock of the Handel Gesellschaft has declined
70 per cent, that Of the Darmstadt Bank
| 81 per cent. of the Dresden Bank 81
per cent. Z of the Harpener mine 164 per
cent, of the Bochum union 60 per cent,
| and Of the Laura mine 80 per cent. These
| striking figures carry their own comments.
| During the week Just ended the bourse has
really been little affected. Since Saturday
last the shares of the Harpener mine have
lost five points and those of the Deutsche
bank two points, while Prussian funds have
actually scored fractional rise.
The sum of tha matter is that the busi-
ness co immunity. though awaiting brighter
times, feels assured that the basis of busi-
ness banks and of bankers is strong and
safe.
MASS BIG sPLURGE.
Herr Mass, the self-confessed embezzler,
lived with the same ostentatlous extrava-
gance displayed by Herr Wolff. lie had
| TWO houses, one at Cherlottenburg and a
entertained extensively and his grand wine
parties and banquets were the subject Of
much comment.
AS usual In cases Of the kind the cry is
raised by certain journals that the govern
ment ought to interfere as a special provi-
dence for investors The Germdnid de-
mands that the government shall assume
supervision and regulation Of the dealings
on the bourse. The Kreus Zeitung declares
that half the banks In Berlin are rotten and
urges the government to institute an in
| quiry into their condition.
FRICTION OVER AN INSCRIPTION.
The municipal council of Munich have
questioned the burgomaster of that city as
| to the truth of q report that the Emperor
| William on his recent visit to Munich in
scribed his name In the golden book Of the
city, adding the words supreme lex ragis
voluntas." The statement was admitted to
be true by the burgomaster.
The Bavarian press protests strongly
against the assumption by bis majesty of
prerogatives never conceded to a Bavarian
| sovereign, aud the organs of the Friessin-
nige party profess to find in the incident an
illustration OF the despotic ideas Of the en-.
peror, which contact with the parliamentary
party must correct.
The Reichstag will resume its sitting on
| Tuesday next. The report that Prince Bis
marck had taken up his residence In Berlin
| for the session of the Reiohstag Is untrue.
1t is not yet known when the prince will
appear in the house. His health requires
careful attention and he will undertake
parliamentary campaign only when assured
Of his ability to do so by his physicians.
OUR PORK.
The official inquiry into the report that
American pork infected with trichinae had
been imported into Dusseldorf brings out the
fact that the diseased pork did not bear the
stamp of American inspection. Conse-
Quently there will be no interference with
the admission of American pork, the
healthy condition Of which has been GER
titled to.
BARON Won BARNEKow's ESTATE.
The case of Mrs. Katharine Robinson and
Miss Ida Green, who have been suing for
the estate of the late Baron Won Barnekow,
has just been decided in favor Of the claim
ants. Miss Green, the courts decide, is
entitled to call herself Baroness Won
Barnekow, and receives the whole
of the baron's property after his
debts are paid. Years ago Baron Kjell Won
Barnekow, an officer Of the German army,
after life OF dissipation, fed to America,
and, after a varied career, became runner
| for hotel in San Francisco under the alias
Of Fred Green.
MARRIEs HIS MISTRESS.
Whils employed in this capacity he be-
came acquainted with girl named Gallf-
gan. The couple lived together, though
| not legally married, but after the birth of a