Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1892-09-10
y the Failure of Several
Building and Loan Con-
Germs in England.
Ii. GLADSTONE'S ENERGY.
orley Opens His Irish Administra-
tion With an Act of Mercy.
n EVICTED TENANT SET FREE.
Dull Labor Conference Enlivened by q
Song From q Welsh Bard
EEs FROM THE EUROPEAN CAPITALS

LONDON, Sept 9-The failure of the
ouse and Land Investment Trust, Lin,
lnounced to day is part of series Of
gantic bank and building society suspen-
ons now involving liabilities approKimat-
lg e6, ,O00 600. The first failure announced
1 this series was that of the London and
-eneral Bank, Lin; the next that OF the
liberal, or Liberator, Permanent Building
nd Investment Society, and now comes the
lspenslon of the Land and Investment
rust The capital of each of these con-
erns does not represent anything approach
lg the liabilities
The money which they owe is chiefly due
depositors and investors who had been
lduced to participate in the affairs of the
oncerns by the alluring high rate of inter-
st which they offered. The liabilities of
he London and General Bank are roughly
stimated at 81, 600, 600, those of the Liber-
tor Society at GO, SOC, 900 and those of the
House and Land Trust at 92, 900 600.
Another great building and bank society
involved in serious financial difficulties,
ut its suspension has not yet been an
ounoed. The collapse of this concern will
hake the whole building society system in
treat Britain. A run occurred to-day oil
ne of the Oldest and most prominent banks
n London, the Associated Workmen's
2U1lding Funds
1t Is the Small Fry That Suffer-
Although the suspensions must affect the
general financial position, it is a singular
act that the crisis causes no panic or scare.
The limited building bank investors are all
mall capitalists whose life savings are
went away or are imperiled bv the failure
pt the concerns to which thev have in
rusted their money. The losses which led
o the suspension are chiefly traceable to
Iiudicious speculations in land blocks.
So far no suspicion of malversation at
aches TO the directors of any Of the ruined
companies, although the shareholders charge
hem with eoncealinC the true position of
he institutions Thus, a shareholder in
he House and Land Investment Trust,
Ifter repeated applications to be allowed to
rithdraw his money, to-day got a circular
lated September 3, announcing the trusts
suspension. Although Laute finance in the
Meantime is unaffected, the widespread
slin brought upon small investors by these
disasters must soon cause strain upon the
Dig banks.
A Proof Of G'sdstone's Energy.
Mr.. Gladstone's address, which was read
before the Oriental Congress in this CITY,
has been hailed as a wondrous proof of the
aw Premier's energy and industry. The
gnuseript covers 5000 words all in his
n writing. Every extract and reference
ontained in the address was made by him
elf, and the address was chiefly compiled |
turing the progress of the late general cleo |
Son.
/ Among the first fruits of Chief Secretary
korley's presence in Ireland is the release |
d a man who had been impr isoned for con-
empt of Court by defying the decision. of a
Judge on q question of eviction. Mr.. Nor
ev has gone the whole length the law
flows him in releasing this prisoner
! Asked if he would refuse TO aid the police |
efecting evietions in ireland, Mr.. Morley
cid that be had been warned that he was |
ound bv law to assent to officers assisting |
Sheriff in carrying out evictions- II he |
etused to give such assent, then the Irish \
Inionists would indict him for breach of |
he Law.
= Welsh Bard at the Trades Congress
The Convention Of the Trades Congress,
ow IN session in Glasgow, is the biggest
leeting that body has ever held. There
re in attendance 49j delegates, represent
nc 1.2l6.934 members The convention is
ttracting little interest. and much of the
roceedings verge M the fareical.
A noted delegate, William Abraham, q
-orking collier and copper smelter of
wmavon, Wales, who represents Rhondda
the House o. Commons. volunteered to
elieve the dullness of the debate at one of
pc sessions by singing a song The offer
las grasred at by the wearied delegates,
n amid lond aeclaims Mr.. Abraham. who
a Welsh ''bard'' and is commonly known
y his constituency by his bardic name,
tAIaber," rendered with good effect in the
!" sish tongue, f'The Men o. Harleeh."
This innovation an the proceedings WAS a
-reat success. the members of tine Congress
applauding the yocalistic
forts of Mr.. Abraham and vociferously de-
handing an encore. The political influ-
nee accorded the Congress seems to be less
ming.