New-York tribune., 1901-01-01
WENT OUT IN GLOOM.
END OF A DISAPPOINTING YEAR FOR
ENGLAND.
FLOODS AND UNFAvoRABLE WAR NEWS
CoLyILE's CAsE-sToCK EXCHANGE
REFLECTIONS.
copyright 1900. BY The New-York Tribune.l
[BY CABLE TO THE TRIBUNE.l

[Copyright: 1900. BY The New-York Tribune.l
[BY THE TRIBUNEl
London. Jan. J. 6 a. m.-The last day of dis
agreeable and disappointing year was most de-
pressing. Floods were clapping their hands
north and south and west from unceasing rains,
and the Birmingham Canal was breaking loose
in Staffordshire and causing great havoc. The
war news was bad and the War Office manage
nent was worse. Additional details of the Brit
ish reverse at Helvetia showed that famous
fighting regiment, bearing the names Of glorious
battlefelds on it's cOlors, had been surprised at
night when strongly intrenched and had lost
one OF its best guns in surrendering TO the
Beers. The fact that the Beers invariably re-
lease their prisoners does not render such Incl
dents less humiliating to British pride The bit
terest dregs in the cup for English lips through
out the campaign have been the evil tidings that
their best battalions have been entrapped. taken
off their guard and captured with their guns,
and there was a draught OF this kind TO leave
a bad taste in the mouth at the end of the
year
There was also general feeling of exaspera-
tion over a fresh scandal, almost as bad as the
publication Of the SpiOn Kop dispatches. which
would inevitably involve the laundrying of mill
tary regulations under the public pump. Cen
eral Colyile confirmed the general impression
that he was seeking a trial by newspapers by
reserying his case until Lord Robertss return
Military men shrug their shoulders over his un-
professional conduct in getting the public ear
for himself and scattering broadcast insinua-
tions against the General Staff when Lord Rob-
erts is nearing the coast OF England. They are
inclined TO say with Corporal Brewster, 1T
wouldn't have been done in the days of the
Dock" The spirit and cogency OF his defence
are conceded, but veterans consider 1t the worst
-nr,sI~ into
print as though he convinced that the
case against him had been closed and that he
could not expect justice from the War Office.
M Brodrick also is sharply criticised for re-
versing Lord Lansdowne's ruling, but these
structures are premature. IL is not yet known
whether Lord Roberts's report upon the Lindley
affair was filed before after Lord Lansdowne
left the War Office. Mr.. Brodrick's friends say
that he has not made any attack upon the
court, since General Colvile has no special in
fuence there, although he has a strong circle of
influential friends IN the West End and is a
Gtlardsman General
The resignation OF Lord Dufferin from the
cnairrnanship of the Whitaker Wright group of
mines and the call for winding up meeting OF
the London and Globe stockholders have been
fresh incidents in the collapse OF big line of
shares in the West Australian market. There
was q feverish opening of the Stock Exchange
Yesterday after Saturdays long list Of failures,
but the anxiety diminished when il was per-
ceived that the disturbance confined TO a
single group OF stocks. that there were few
additional defaults and that the bear operators
who had succeeded in wrecking various specu-
lative properties were seeking TO steady the
market and minimize the havoc wrought by
them The Stock Exchange has at the close OF
the year an object lesson 'n she recklessness OF
Of promoting OVercapttdllZe0
undertakings with the aid Of finance companies
which are exposed 10 destructive bear raids
While the losses incurred By the persistent nam
nering of a single group or stocks ana the ei-
forced Suspension Of many firms restricted
70 a single section OF the market, a strong argu-
ment has been offered for a revision Of the
company laws by which there VIII be less un-
sound stock promoting and more legitimate
trading. =, A. p.