New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1900-04-23
PROSPEROUS MONTE CARLO.

The statement that the revenues of Monte
Carlo are declining and the great gambling com
pany is embarrassed must be taken with
grain of salt. 1t is true that the company's re-
ceipts last year showed decline of S3OO,OOO.
and 1t is not every concern that can lose such
sum and yet keep balance on the right side of
the sheet. Even with such loss, however. the
company's revenue from the gaming tables
amounted to 81, 60O,00 while $150000 more
came from rental of the hotel and cafe, making
a total of 81, 100000. Against that there was. of
course, considerable bill of expenses The
yearly payment to the Prince of Monaco was
S450,0O0. and he required also special bonus of
100000 for renewing the companys concession
for another half century. The 1,60O employees
of the gambling house received 100000 in sal
aries. There were grants of $4,000 to churches,
schools and charities, and the orchestra and
theatre cost 100000 Subsidies to the press,
partly for advertising the place and partly for
hushing up suicides and other scandals aggre-
gated S150,00O, and $4,000 more spent in
sending bankrupted gamblers home-Or some
where out of the principality. The total of ex
penses was $3.50 900, leaving 900 profits.
Now, the concern has sixty thousand shares of
stock, of par value of 500 each on which it
pays per cent interest and in addition such
dividends the profits warrant. The dividend
just declared amounts to So a share, which.
plus the fixed interest, makes Just 40 per cent.
That is a falling off of 10 per cent from the
previous year. but it is still pretty good rate
of profits.
The embarrassment of the company If any
there be, must be prospective 1t must be con-
fessed that the outlook is not altogether
golden the record. for the reason that the
Prince of Monaco is becoming more and more
exacting. The richer that monarch becomes
the more cOvetOus Of wealth he seems to be-
We have mentioned that he required last year
a bonus of 100000 for renewing the conceS-
sion. He requires additional bonus this
year of no less than 100000 and in the
year 1913 further bonus of S3,OOOOO0. That
be it noted is all in addition to his regular
yearly grant The latter is nominally only
S250,00O. But there is now additional grant,
under the new contract, of 100000, and there
is another of 100000 more for his body
guard law courts, etc. These make total
of S45O000 a year. Under the contract
however, the company agrees and after 1907
TO add another 100000, making $500 900; on
and after 1917, $4,000 more, or S600,000; on
and after 1927 $4,000 more. or S6j0,OO0 year
and on and after 1887. still another $4,000 or
100000 a year Moreover, it is pledged to build
a opera house this year, to cost not less
than 100000. To meet these increased obea-
tons the company has made loan of S3S40O00
at per cent which is deemed a safe invest
ment 1t is expected that the Paris Worlds
Fair this year will vastly boom the gambling
trade and make the profits of the company
larger than last year by S1,OOO,O00 or more.
Perhaps the most striking feature of the
whole case-wth. of course, the one obvious
and supreme exception the madness of the
gaming passion which pours out this yearly
tide of Colds the change in the fortunes of the
Grimaldis. Less than half a century ago the
head of that ancient house was little better
than pauper; his palace falling in ruins
about his ears, and his entire body of retanerS
consisted of four men. Then n certain VI. Blanc
came down from HOmhOurg, and asked for n
lease of the barren rocks of Monte Carlo. When
that Prince of Monaco died he left a fortune of
S2,400,00O. His successor. the present Prince
has continued in the gold paved way. He has
herited, and he married German heiress who
brought with her n dowry Of S3.00000O If we
reckon his present fortune at S10,000,0O0. there
fore, there will be little danger of exaggeration
Being only in middle life. he may live to
see his fortune again doubled while the none
tary possibilities of his heir, who has a fair
prospect of living through the present concession
nerative terms, are dazzling beyond all mag
Unable dreams of his MEDIEVAL ancestors. And
to think that all this proceeds from the mingled
folly, prohigacy and cupdty of man.
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