New-York tribune., 1903-04-11
MINISTER AS DIRECTOR.
THE CASE OF MR. FISHER.
Premier Balfour,s Mistake-Dutch
Strike and Coal Trade.

SPECIAL 70 The New-York Tribune by French Cahle)
Cconyright: 1909: BY The Tribune Association.D
London, April II. ] a. MIR. BaIfour made a
great mistake when he altered the salutary rule
laid down by Mr. Gladstone forbidding Min
listers TO be directors This is evident from the
comments which are appearing in financial and
literary reviews what is known as the ''tele-
scriptor case An inventor secured a patent
for system of telegraphy and M Hayes
Fisher. NJ p. Financial Secretary to the Treas
Ery. and some other capitalists agreed TO find
the money and give the patent commercial
value. the condition that they were TO share
1he profits. A syndicate formed and MIR.
Fisher. who was appointed of the directors,
subscribed for a thousand shares in considera-
ton OF which he allotted two thousand fully
paid bonus shares. The syndicate incurred
lia oilities and wound up. and Justice Buck
ley, who was the judge that decided that there
was prirna facie case for prosecuting Whit
aker Wright. disapproved the conduct of the
directors. and expressed the opinion that
they should redeem the bonus shares par.
Mr.. Fisher at once wrote out a check for the
nominal value Of the shares and placed his
resignation in Mr.. Balfour's hands. The Prime
Minister has been blamed in some quarters for
accepting the resignation. but the sense Of the
House Of Commons and the country is decidedly
against Ministers during the period of official
Of public companies. Mr.. Labouchere says in
Truth whilst they eat the official loaf they
should eschew directorial fishes"
Il is believed here that the Dutch strike will
be over in q fortnight or less but meanwhile
British coal exporters and shipowners are care
fully watching the progress of events for If the
struggle should happen 10 he prolonged the
effect upon the coal shipping trade OF this
dam and Rotterdam take large quantities of
British coal, and even temporary stoppage Of
shipments would tend to weaken freights and
coal prices in the North Country markets. which
DO the bulk OF the Dutch trade. On the other
hand. Rotterdam is the port of shipment for
German coal. and the interruption of German
shipments would, if continued any length of
time. favor the export of British coal to those
markets which Germany is in the hs bit of sup
plying.
The situation in Holland has taken an ex-
rraordinary turn. At $50 O'Clock yesterday
morning the secretary Of the general strike COM
rnit,ee went 10 the office Of one of the principal
newspapers in Amsterdar9 and announced that
the strike was at an end. The leaders had de-
cided that the outlook was hopeless. The States
General had passed the obnoxious anti-strike
bill public opinion was against the strikers and
their exchequer was nearly empty At once the
joyful news was published and the city awoke
70 the cry that the labor was over But. in
stead Of accepting the decision Of their leaders.
the strikers utterly repudiated their action, and,
calling a mass meeting, delivered violent har-
angues amid babel OF sound. The members Of
the committee then published manifesto
planning their reasons and calling upon the
10 keep cool. But they could not gain a hear
ing and the mass meeting insisted that the
strike should continue. At the time Of cabling
matters remain in the same anomalous position.
The men have thrown over their old leaders, and
The names Of new ones have not been announced.
Trivial and almost cornical as the incident
Gently reported about the German Embassy at
WASHINGTON may appear at first sight. II is,
marks the Berlin correspondent OF ' The Stand
ard now beginning TO lead 10 discussions which
put the affair in q more serious light. The Ger
man Nationalist press charges Baroness Speck
Won Sternburg with having estranged nearly all
the other members of the embassy by the COM
plete Anericanization of her household and by
the adoption Of social rules which DO not recon-
mend themselves 10 German official traditions.
William 2. Ridgely. Controller Of the Cur
rency Of the United States Treasury, is enjoy
ing : short visit TO London and receiving many
invitations 20 American houses. While he is
here on private business he watches closely the
movements OF American finance and talks hope
fully about the future. He admits that syndi-
cate operations have been carried too far, ana
that the great operators and capitalists are
overloaded with securities and must carry their
burden as best they ca1l- He asserts, on the
other hand. that the general business OF the
country was never better, that the agricultural
and manufacturing interests are prosperlng'
that the crops have not been disappointing, ana
that mercantile conditions are sound His op-
tirristic views on the continuance OF business
activity and prosperity are based upon the 1act
-ha- there has -haen considera bic liquidation al
ready and that the capitalists have been Warleo
against further issues Of stocks until the couh-
try has had a full opportunity Tor disesuls
what there IS and catching up with thein-
The sacred concerts in London yesterday were
almost uncountable Every big concert han was
occ--rIA5 and even the suburban theatres ana
music halls were well TO the front with pro
grarrrles suita ble to the occasion l. y r