Morning journal and courier., 1891-01-01
MONTE CARLO.
Report on the Financial Status or the Company Running the Gam bling Houses.

Report on the Financial Status or the Company Running the Gam.
 bling Houses.
 Correspondence of the London Times.l
 The half-yearly general meeting of the shareholders in the Casino company of Monte Carlo-or, as it styles itself. the Societe des Rains de Mer ct Cercle des Etrangers-was held this afternoon. I cannot reproduce the balance sheet, nor can furnish an exact report of the re- marks of the chairman of the company to the shareholders; but I may lay before your readers the result of an interview which I had yesterday with that gentle man, together with other details.
 The society holds two meetings per year, which are summoned through this form of notice printed in it's official organ:
 .sThe shareholders of the Societe Anonyme des Rains de her ct du Cercle des Etrangers de Mo. naco are hereby summoned to attend a general ordinary meeting on Wednesday, the 29th inst at two o'clock in the afternoon at the offiees of the society in Monaco. The general assembly is new shares in the society, who have deposited their title deeds or the receipts thereof, at the offices, not less than eight days before the date of the meeting"
 1u6 OElRludl fdluS Ol d utW suhTt ucTc mentioned was five hundred francs; to- day one is worth fifteen or sixteen hun dred francs; an old share was worth one hundred thousand francs, and during the time of "Pere" Blanc, the founder of the society, its funds were centered in com paratively few hands, chiefly those of his children, relatives and friends. The ever. present fear of interference with the gam. bling, the gradual decline in the value oi property on the Riviera, led to reconstruc ton of the funds and new issue of six | ty thousand shares at five hundred francs each, thus raising the capital of the socie | ty to thirty million francs. In this way the number of shareholders was consider ably augmented, but, as will be seen iron | the condition in the above notice, voic, | in the council of management remains a the same value-namely, one hundred thousand francs. By far the largest mum Der of the original shares are also still il the hands of the Blanc family. Fou years ago it was decided to establish a re serve fund, and since that time a contri button of nearly one million francs ha been made to it each year, so that now amounts to two hundred and fifty thou sand pounds, or four millions of francs I was assured by the chairman that ;t intended to contribute one million per an mum for the next twenty-three years-h takes it for granted that the Casino is ol the same basis as the Castle of Monaco at which period the concession granted b the late Prince Charles will expire, so tha at the end of that time the society will b able to liquidate its affairs and reimburs it's shareholders even with Q profit. Il addition there are buildings and land val ued at various sums, from five hundre' thousand to one million pounds, but these believe, belong almost entirely to mem bers of the Blanc family.
 Now, as to interest paid to shareholders Each share bears fixed rate of interest O twenty-five francs per annum Cor five pc cent. on the original value), payable in Nc vember, while what is known as the div dend is paid in May. LE 1889 the totz revenue per share was one hundred an ffty-five francs; last May it was one hun dred and sixty francs, and am assure