The morning news. [volume] (Savannah, Ga.) 1887-1900, 1892-11-26
EUROPEAN GAMBLING BELLS.
" hat This Years Pro fits at Monte
Carlos Casino Amounted To,
From the Ne11 York Press

Carlos Casino Amounted To.
From the Ne1 York Press.
PARIS. Nov. 1.-THE Monte Carlo gam
bling house company, which is euphemisti-
cally described as the Societie Anonyme des
Baines de Mer and du Cercle des strangers
has issued accounts which show that it has
made gross gain Of $4,000, 600 in the course
OF the past financial year and net gain of
about 81 800, 900, which will enable 1t to pay
SO per cent. on the original value of the or
binary shares 900 francs or 500, of which
&C, 900 were issued. The shares have, how
ever, risen enormously in value since then,
and they now stand at 1900 francs (S40W.
Even at this increased price the dividend
represents ga per cent, which Is very
decent interest in these days.
In 1891 the dividend was ten francs less
than Ia 1892, while in the previous year
shareholders had TO content themselves
with only 100 francs-that is, paltry divi-
dend of 3216 ger cent. Besides this In the
last six years a million francs have been set
aside annually as a reserve fund, which
now amounts to 81, 100000, SO that by 1913
in the ordinary course OF events, the com
pany will have @ reserve fund as big as
their capital IN addition to the gardens,
buildings and property in which the origi-
nal capital was sunk, and will have been
paying dividends varying from 80 to 40 per
cent. all through on the original capital
These figures do not. however, represent
the full winnings Of the company, for they
have to pay immense expenses.
First item is the rent Of $3.50, COO which
they give TO the Prince Of Monaco Then
there is the cost of the whole of the bust
ness Of government, sanitary arrange
ments etc, which is thoroughly well done
After that come brides to newspapers, sub
have been ruined as the tables, salaries to
croupiers, chuckers out and detectives, the
total amounting to about 81 ,250, 900, which
Is about half the gross gain of the COM
psny. The explanation of these enormou,
winnings is the fact that the company
possess monopoly Of roulette.
But though Monte Carlo has monopoly
of roulette, II is quite mistake to imagine
that gambling is suppressed elsewhere.
There is plenty Of gambling, but it is done
in shady, unrecognized way. For iu-
stance, gambling is prohibited by law ID
Belgium, but in spite OF this the casinos at
Ostend and Spa are nothing more nor les.
than gambling bells. The municipalities OF
Ostend and Spa know perfectly we'll that
the 'cIub" is used mainly by the visitors for
baccarat and trente ct quarante, but as they
receive handsome subsidy to keep quiet
they do so, aud take no notice even when
the rooms are kept open all night, or when
disgraceful scenes occur which make all
Europe ring.
This means that this Casino at Ostend is
now practically licensed by the police in de-
fiance Of the law. The sordid explanation
OF the see saw movement of the authorities
is that gambling has brought prosperity TO
Ostend and Spa; though both the Belgian
authorities and their advisers are ultra
moral In all matters where the Congo state
is concerned, they are afraid to be too
straight laced at home. They take the
astute view that though 1t is sad pity that
men will gamble. yet II they insist on ii,
aud experience shows that they do, il 10 bet,
ter that Ostend and Spa should benefit by /,
than not. And this, no doubt, is o highly
practical and patriotic view IL not mora
one.