The morning call. [volume] (San Francisco [Calif.]) 1878-1895, 1891-11-15
FINANCIAL
DEPRESSION.
Effect Of the German Bank
Failures.
Heavy Decline In Bank Shares--The Reich.
stag 10 Convene on Tuesday Bismarck
Heartily Greeted In Berlin.
Copyrighted 1891 by the New York Associated
Press.

BERLIN, Nov. 14.-Despite the excited
articles which have recently appeared in the
newspapers proclaiming a financial crisis
here no crisis exists, and, not withstandng
the failure Of three private banking firms
and the trouble threatening other houses of
the same character, the position of the
large banks and the greater financial firms
remains solid. The Bourse doubtless ex-
perienced severe shaking up, mainly
through the revelation Of tie "flash" nature
of prosperity. which was supposed to be
permanent and genuine. Present develop
ments cause no surprise among the leaders
In high financial circles. who have long ex-
pected that the bubble" houses would
burst. Some firms of great Importance,
finding that runs threatened their existence,
have appealed 10 large fnanciers for assist
ance. Naturally, though there Is no panic,
commercial depression Is coexstent with
the decline of values on the Bnurse. The
period of general imitation, which reached
its climax last year. has been succeeded by
persistent reaction downward. Since this
reaction set in the shares of the Dsconto
dCSCllSCudIl, ii Udllh Ol lllb IpDule,
have declined SO per cent, the Handel Gesell-
schaft IS per cent, the Darmstadt Bank 81
per cent, the Dresden Bank 81 per cent, the
Harpener 64 per cent, and the Bochum Union
80 per cent. These striking figures carry
their own comments but the business COM
munity feels assured that the basis of the
principal banks is strong. AS usual In cases
of this kind, the cry is raised by certain
journals that the Government ought TO in
terfere. The Kreuz Zeitung declares that
half the banks in Berlin are rotten, and
urges the Government to institute an inquiry.
The Municipal Council of Munich has
questioned the Burgomaster of that city as
10 the truth of the report that Emperor
William, on a recent visit to Munich, in
scribed his name in the Golden Book" of
the city, adding the words: Supreme
Lex Regis Foiuntas." The statement was
admitted TO be true by the Burgomaster.
The Bavarian press protests strongly
against the assumption by his Majesty of
prerOgatlves never conceded TO Bavarian
sovereign, and the organs of the Freisinnige
party profess to find in the incident an IL
lustration of the deSpotc ideas of the En-
peror, which contact with Parliament must
correct.
The Rechstag will resume its sittings on
Tuesday next. 1t is not yet known when
Bismarck will appear. His health requires
careful attention, and he will undertake a
Parliamentary Campaign only when as
sured OF his ability to do so by bis phYsi-
clans.
The official inquiry into the report that
American pork infested with trichinR 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 w tn
the admission of American pork the
healthy condition of which has been prop
erlY certified TO.
The War Department has concluded its
experiments with American corn and de-
clded to recommend the use BY the army of
bread made OF equal proportions of corn
and rye. 1t Is believed the Department of
the Interior will follow this example.
American Minister Phelps anticipates in
consequence of this decision that German
markets will be thrown open for admission
to many millions Of bushels of American
grain.
Prince Bismarck passed through Berlin
tonight on his way from Varsin to Fried
richsruhe. A large number of the Princes
admirers were in waiting at the station.
and when the train arrived pressed around
and gave the Chancellor a hearty greeting.
Prince Bismarck saluted the crowd and
shook with heartiness the hands of those
near enough to reach his extended hands.
AS the train pulled out the crowd sang
Deutschland Uber Allies and shouted
Come back to Berlin! Come back to the
ReichStag."