New-York tribune., 1903-03-25
BRITISH STOCKS FALL.
CAUSE OF DEPRESSION.
Information Wanted about Ne1o
Loon-NationdIists Rejoicing.

,s.ctal to The New-York Tribune By French Cabie9
downright; 1908: By Fne Tribune Association
London March %, a. m.-The continued de-
| preston in consols, which were again weaker
Yesterday has disturbed the Street and has left
all securities fat There is general complaint Of
the neglect of the government to clear up the
situation by definite announcement OF the con-
dftions and the rate Of interest or the new
Transvaal loan. It Is considered to be fore
gone conclusion by brokers that consols VIII
have a dropping tendency until the uncertainty
respectins that loan is dispelied. and for that
reason there general hope among the op-
orators yesterday that the reported conference
between Mr. RaIfour and Lord Rothschild re-
spectinR the loan would be fully confirmed. The
decline in consois was attributed to the opera
ton of Mr.. Goschen'a reduction of interest arc
the prospect of large borrowing transactions on
account of the Transvaal, the London County
Council and other heavy issues Of capital Easier
conditions in the money market were not antscl-
pated until the end of another week, when the
government and dividend payments would De
made. The relations of the American market are
variouslv explained in the Street but there is
a general agreement among financial experts
that the fall Of consols is due to ocial conditions
rather than to the return of large blocks OF
holdings from the United States. Americans are
not borrowing from Germany, where the upward
movement of money rates has continued. and
where domestic trade is now in sounder con-
dition.
The Nationalist members are in a merry mood,
and apparently satisfied that Mr.. Wyndham
will settle the land question by a speech intro
ducing the bill. They have been anxious to
create impression in the island for many
weeks that they knew what was going on in the
Irish Office. even If they had not been consulted
as to the preparation Of the bill Mr.. Wyndham
roC hoo ratIp IX-i&h fha
owners who were behind the conference at Dub
Iin and it has been only at the last moment. IL
at ALL that he has taken Mr.. Redmond into his
confidence. The Irish Land Bill Is dreaded by
large number of Tory members, who assert that
the British taxpayers have been sufficiently bled
in other ways and ought not to be forced to
make up the difference between the selling prices
Of estates and the tenants estimate Of what they
can AFFORD TO pay.
Mr.. Balfour's belated explanation of the re-
grettabIe incident connected with the Venezue-
Ian negotiations was an involuntary slight upon
Lord Lansdowne's department, where the dis
patches were not SO closely edited as in the
War Office Chen Mr. Balfour chief
There was a large attendance of peers in the
House of Lords yesterday when the public
orator of the empire" as Lord Rosebery has
been described, rose to discuss the question of
national defence. The Prince OF Wales was pres
ent and occupied his usual seat the front
cross bench. The peeresses and diploma tic gal
leries we'll filled, while the steps of the
throne a number of Privy Councillors had
sembled Lord Rosebery painted England's
financial situation in most lurid Colors. Eng
lands money bags. he maintained. had bowed
down Napoleon. and sorry indeed should he be
If these money bags were depleted. but he
ventured to say. the authority of every econ
omist who had studied the question that the
government was depicting the money bags now,
and depicting the nation to death in time Of
peace.