Delaware gazette and state journal. (Wilmington, Del.) 1883-1902, 1891-03-19
4 rnExon rlNANcIAL rLunRr.


Run on Onc Of tho Big Paris thanking
Houses--Governmeu Assistance re-
puestsd and Refused --The Leading
Financicrs Called TO the Rescue.
PARIS, March 12.-1hc Societe dies
Dcpots dc Complies Courants of this
city Is In n critical position. The SQcicte
or bank referred to suffered acutely
during the entiinancial crisis in Lon.
don and Buonos Ayrcs. The SociGtc at
the present time has only 1S,000,000
francs on hand with which 10 meet
claims amounting 10 0S,000,000 francs.
After long consultation between the
Societies directors and its executive
officials II WINS decided 10 ask the gov
eminent TO come TO the assistance of the
imperillod financial institution. Con-
sequcntly M. Donon, managing dircc-
tor, called upon NJ Rouvier, tho
minister Of finance and plainly stated
the whole case to him. Finally NJ,
Demon asked NJ Rouyier TO advance the
Societc the sum Of 10000 francs. After
making some inquiries AZ TO the financial
position Of the Socictc NJ Rouvipr
placed himself in communication with
the directors of the Bank If France and
giving them all the information which
had been furnished to the ministry Of
finance by NJ. Donon, asked the Bank
of France 10 come TO the assistance of
the Socicto dcs Depots dc Complies
Courants
The Bunk of France directors after
some deliheration said thai they felt
compelled 10 refuse to grant the assist.
ance asked for, NJ. Rouvicr then in
formed M. Demon of the failure of his
uAt,lsrattat, ~. ..Q a
with the permission of the dircctorof the
5ociete dcs Dcpols de Complies Courants,
the minister of finance convened II meet
Ing Of the directors of the leading llnan-
cial houses Of Paris. The meeting Of
financiers who responded 10 the call of
the minister Of finance were twice in
session yesterday in un endcavor TO
bring about some arrangement similar
70 that which IN the case Of the Barring
Brothers and Company Of London,
saved the house from utter collapse.
That there are difficulties IN the way
of accomplishing the object in view rs
evident from the fact that the llnancers
failed 10 conc TO an understanding ut
their first meeting, The result Of their
second consultation is Is yet not given
10 the public.
In connection with the troubles il IL
said In financial circles that the first re-
ports Of the SoCrtc being in difficulties
were promoted by bear operators on the
Paris bourse aud thai when these
rumors wcro first circulated the posi-
ton Of the SociGte or bank was linan
cially sound
AZ 1918 p m. to-day the Socictc was
paying freely and mColing MI the de-
mands made upon il by the run which
naturally set IN when the alarmst
rumors became freely circulated.
LATER. The convention Of inancirrs
accepted tho Band, VI frances oIler 10
advance most 81 tile money required
II is understood Tint die liabtlticsof the
bank arc about iO00l00O francs.
THE EFFECT IN LONDON.
LONDON, March Il. The stock cx-
change Of this city ut this hour it,30 Il.
m, is IN u state Of unuasincss and is de-
pressed ut the reports which have
reached hero from Paris in regard 10 the
precarious condition Of The Sucicte dos
Dcpots dc Complies Goutant, and tho
result Of the deliberations Of the group
of French tinanciers who have boon
asked by Nj Rouvcr 10 come 10 the
. assistance Of the Socicte il anNiously
I awaited in financial circles here.
The Hank oT France Prevents i Panic.
rAgls. March l3.-'rhe newspapers Of
this city highly praise the action pl tho
lhuk of France IN coming to the relief nG
thcSOcicte DIES nrpntsdc Complies Courants.
u Is believed that the bank action has
al. Ia Il 4 H. ID