New-York tribune., 1901-01-10
THE LONDON AND GLOBE.
LORD DUFFERIN'S EMBARRASSING PO-
SITIoN AT A MEETING.
Copyright: 1901: By The New-York Tribune)
IBY CABLE TO TIE TRIBUNE.l

Copyright: 1901: The New-fork Tribune)
tBY CABLE TO THE TRIBUNE
London, Jan. 10 a. m.-Lord Duferin was
sorely embarrassed when he took the chair at
yesterdays meeting of the London and Globe
shareholders. Only three weeks previously he
had vouched for the soundness and seaworth
ness of the company. and it had been wrecked.
carrying down with it 100000 OF the share
holders money, and swamping also sixteen
Stock Exchange firms
He owed the public a frank explanation OF
his connection with the highly speculative group
OF joint stock undertakings and of his neglect
chairman. whose name had been used for
batting investors TO control and direct the ex-
tremely hazardous financial methods of Whit
aker Wright.
He was sympathetically received. but was
forced to confess that he knew nothing about
stock operations. and that he had not under
stood the situation at the previous meeting. He
made frank reference to his own heavy In
vestment in the securities Of the company and
in British American shares as evidence of his
own faith, and his voice trembled with emotion
when he spoke Of his son wounded in South
Africa and the necessity for abandoning his
voyage and recalling his resignation and re-
manning in London under fire,
Whitaker Wright followed Lord Dufferin in
an extremely hopeful speech, with forecast
that the companys debts would be paid by Mon
the certainty of regular dividends and with
assets in properties of the highest value.
1t was a bold speech. with plausible explana-
tions of recent transactions in the Lake View
Mine. and the shareholders had nothing to say
when he declared that he had advanced from
his private means S1.250000 for the relief OF the
company, and that he stood ready to pledge his
life and property for carrying the reconstruc-
ton scheme to a successful issue.
Adjournment ordered until Monday, when
it is probable that payment Of the company's
debts through the disposal of large interests in
the contracts for the Baker Street and Waterloo
Electric Railway will be announced.
Lord Dufferin's friends greatly regret his con-
nection with exploitation agencies for stock pro-
motion and manipulation of the market after
long career in the service of the State.
There are signs Of relief among English Con-
servatives that the Duke Of Norfolk resigned his
Office before making the speech at Rome ex
pressing the hope that the new century may
witness the restoration Of the temporal power
Of the Papacy. AS the leader of the English
Catholics he has delighted the Vatican support
ers but he has not committed either the Sails
bury Government or the Conservative party to
policy which would be a menace to Italian
unity and independence. The extent to which
his views on the restoration of the Papal tenn
poral power are shared by British Catholics
only be surmised. Without doubt he has spoken
for large majority of them.
Day after day the newspapers continue TO
second the appeals Of the correspondents in
Cane Town for troops for South Africa.
The necessity for fresh drafts of mounted
is growing urgent to augment the strength Of
the force now serving and to replace the yeo-
nanry and other troops that should by this time
he returning home. Meanwhile the recruiting
for the South African consta bulary is proceed
ing sluggishiy. The actual number of recruits
dispatched so far from the United Kingdom is
two hundred but three hundred more are to
start next week, with more than three times
the number required applying to be enlisted.
The selection of candidates goes on at the rate
Of only three hundred month. at which rate it
will take nearly year and half TO get the
necessary five thousand men,
! Frederick H Sawyer the author Of the Scrb-
| mars, ne,y book THE Inhabitants of the Philip
mines" ;eus me that far from recommending
American withdrawal from the islands he has
nointed out how the country can be pacfed,
! and he has urged that the most necessary and
,ronortant step is the departure of the religious
orders and the restoration of their lands to the
naonie He says this will not necessarily imply
| on6scation but sale under the Commission,
! something like what has been done in Ireland.
| he saws that Aguinaldos comments upon the
Taft Commission perfectly true, and that
! American generals and commissions have no
nower to offer the natives any guarantees what
ever.
THE Philippine question, he asserts should be
...,1e6 bv conciliatory methods. for even if the
American Government were to buy the estates
from, the friars and give them back to the native
occunants It would be cheaper than the expense
| of continuing the war. !. n. r.
SHAREHOLDERS WRATH APPEASED.
LORD DUFFERIN FIRST HooTED AND
THEN LISTENED To-PLAN FOR
RECONSTRUCTION.
BY Associated Press.l
London Jan 9.-Amid cries of Turn him
out,'' hootings and other hostile Interruptions