New-York tribune., 1901-04-30
FOREIGNER TO PAY TAX.
SIR MICHAEL COMFORTS THE ANyIOIrs
COAL MEN
EEPoRTED SALE OF THE 1EYrAND 11NE-
BUSY WEEK IN THE ART AND
MUSIC WORLD


BUSY WEEK IN THE ART AND
MUSIC WORLD
Copyright; 1901: BY The New-York Tribune1
[BY To THE TRrBrxEl
London. April 80. / a. m.-"Black Michael
the Chancellor of the Exchequer has been named
by admiring Tories Aecause of his becoming a
stlffer and stronger figure day by day. gave a
miners deputation no ground for hope respect
ing the coal duties, but cent it away yesterday
with neat compliments. The shipping and min
ing industries settling down TO the convic-
tion that the only concession which can be
pected from the Treasury is the exemption of
contracts for a short period from the export
duties on COAL and candid men among them
beginning to admit that the agitation has been
pitched too high. and that the mines will not be
closed or ships driven from the by the new
methods of taxation. Contractors now assert
that foreign navies, like the French, will be
forced ultimately to pay the export duty on
Welsh steam coal, and that Sir Michael Hicks
Beach's forecast that the tax will fall upon the
foreigner may be fulfilled in the course of time.
Liberal protests against the sugar duties have
been met by Tory rdcule of the oldtime Glad
stone doctrine that the salvation OF the indus
trial and agricultural classes lay in cheap mar
naade and jam The Chancellors hold upon
Tory affections IS increased when proof is Of
fered that he is running counter to Glad
storian principle.
The magic name of J. Pierpont Morgan looms
large in financial circles just now. Quite flut-
te- was caused in the City yesterday by the story
that the levathan fnancier had purchased the
well known Leyland Line of steamers, engaged
In the Atlantic Mediterranean and West Indian
trades On the Stock Exchange opinion was
about equally divided as to the probability
of the deal taking place, and. while some opera
tors were inclined to rdcule the story and sug-
gest that Mr. Morgan's next deal should be the
ACQUISITION of the British fleet, good many
shrewd observers were Of the opinion that there
must have been some foundation for the story,
although the report Of the directors of the Ley
land company. which issued on SATURDAY
made no reference to any impending sale. Inc
authorized capital Of the company is tis"V"'
Of which amount f761.JGo is paid up. 1t is sig
nihcant that the story Of the deal was con-
sidered good enough TO add IL shillings to the
value of the ordinary f1o shares yesterday
Walter Glynn, managing director Of the Ley
land Line confirms the report of the big ship
ping deal TO the extent of admitting that nego-
1iations are in progress and that Mr.. Morgan
is operating on behalf Of a syndicate Mr.
Glynn is careful to add that the Americans are
buying up large interest in the fleet but
beyond that there will be no change Whatever
in the concern Public opinion is undoubtedly
a good deal perturbed by the operation, though
the interest so far acquired entities Mr. Nor
gan,s syndicate to place on the board only two
directors 1t is felt that there is possibility
that further purchases of shares may be made
and control Of the line ultimately pass into
American hands What the effect of the deal
upon the other English shipping companies will
be is at present matter Of speculation. The
Express supplements the news with report
that Mr.. Morgan and the group of capitalists
for whom he is operating are resolved TO spend
f10o00000 in new vessels during the next five
years, with the object of making the Atlantic
and Pacific oceans American lakes This paper
is very doleful this morning and speaks Of the
deal as most deplorable from a national point
OF view England is called upon to wake up
and put a stop to the American plans of world
control by the force Of dollars. The appoint
ment Of a Minister of Commerce is suggested.
The week has opened with busy day in art
and social circles. The Guildhall art gallery
was thronged hour after hour for the private
view of the Spanish exhibition, and the Water
Color Show in Pail Mall where Arthur Melville
has carried his impressionist vagaries to the
verge of folly was also well filled The Musical
Festival was opened in Queens Hall with
Colonne as conductor, Blanche Marchesi as vo-
calist and Robert Newman's orchestra of over a
hundred performers in Beethoven's Symphony
No. S. Bizet's overture "Patrie' music from
'Tannhauser" the prelude from Tristan and
selections from Berlioz and Cesar Franck.
Lord Avebury, famous alike as f1nancier, econ
omist and municipal reformer, was entertained
by the Authors Club and a large literary COM
pany. l. N f.
CoAT, MINERS CALL ON CHANCELLOR.
London, April ga representative delegation
from the miners of the United klnsdon met the
Chancellor of the Exchequer, Sir Michael Hicks
Beach today and asked for the withdrawal OF
the export tax on coal. The Chancellor, reply
ing controverted the suggestion that the tax
would iniure the export coal trade. The tax, he
maid bN the fOregnerS.