New-York tribune., 1903-03-30
THE SLUMP IN CONSOLS.
4 FURTHER FALL FEARED.
Disturbed by R~sso-Chinesc Agree
nsent-4ncient Irish Relics.

Cspecal to The New-Ycrk Tribune by French Cahie)
fC,opyrsght: 1903: BY Ire Tribune Association)
London March 80. a. m.-The city Is anx-
iousIy awaiting definite information about the
new Transvsal loan. The Chancellor OF the EX-
chequer has been advised by able and most IN
nuentiaI authorities to make the loan Of "a per
cent stock Mr.. Ritchie has not yet however,
come to any decision in the matter, and many
leading firms of the Stock Exchange fear that
the issue will seriously depress the consols mar
ket unless the interest Is fixed at per cent The
city argument is that there is always a brisk
demand for safe per cent stock and that
what is wanted is q great popular success and
not a syndicate splash followed by months OF
SLOW liquidation A further consideration is that
invidious comparisons would be raised be-
tween consols at 212 per cent and the new stock
at per cent but 2S+ per cent loan would be
almost a competitive issue with consols. and If
offered, a suggested, at 81, investors would
Immediately regard IS equivalent quotation
The clatter when announced would consequently
be the signal for = fresh slump in the price of
the premier security, thereby spelling the
chances for subscription to the new issue. On
the other Iasnd, a 3 per cent loan offered at low
terms would appeal strongly to the investing
public. and SO help to relieve the financial situa
ton
News has reached official quarters here from
st Petersburg to the effect that an agreement
either has been or is about to be arranged be-
tween the Russian and Chinese governments
for keeping all the funds of the latter at the
Russo-Chinese Bank il Peking. II this agree
rnent is carried out it Will be severe blow to
these British institutions which have acted
wholly or in part as bankers to the Chinese
Government and as the Russo Chinese Bank
IS IN reality Russian Government institution,
81 is not impossible that q protest Is forthcorn-
tng. although no precise date has been fixed
The remarka Bile case OF the Irish gold orna-
rneuts will soon come on for q hearing in the
law courts The history Of these relics is sur
rounded by a halo Of romance. They were
ploughed up on some land in the northwest OF
Ireland in 1896 by farm laborer, and, after
passing through several hands. were sold TO
the British Museum for $500 All efforts to re-
claim them for Ireland have proved unavan~
ing the authorities at Bloomsbury being pre-
ciuoed by statute from parting with any object
once acquired The government law officers
say the articles are treasure trove, and there
fore belong to the crown. but the trustees Of the
Museum reply that within living memory the
sea has burst over the land upon which the
objects were found. and probably at the date
TO which they belonged the sea extended much
further inland The relics include a collar with
an ornament of Celtic character IN relief:
twisted cellar OF solid wire. two neck chains, q
howl and q model OF boat, with oars
The cOnstantineple- correspondent Of >''Tse
STANDARD" telegraphs that though the Macedo-
nisu reform scheme is beginning to be put into
execution the inpossibility OF carrying 1t
rbroueh under the existing conditions is be-
coming evident He adds that the powers should
now boldly state that the reform scheme pre-
sents too great difficulties and claim complete
foreign control over Macedonia.
According to the ST. Petersburg correspondent
Of The Daily Telegraph the peasant relief
easures definitely outlined by the Gear in
recent manifesto have already been adopted, and
about f1, $4,000 representing arrears Of taxes,
has been cancelled, and over 100000, which is
overdue to the district authorities, has been
taken over by the central government Other
measures are expected to follow shortly.
The figures of Ge-many's foreign trade IN 19UZ
are once more full Of sinister significance to this
country. They illustrate afresh the old tale, re-
counted year after year, Of diminishing imports
from Great Britain and augmenting exports to
all parts Of the British Empire
The committee OF the Lord Russell OF KilloWen
memorial fund has decided TO present a marble
bust Of the late Lord Chief Justice OF England
to the Associated Bar OF New-York. L n. F.