New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1904-02-21
PANIC on PARIS BOURSE.
Securities Fall Heartily Alarming
RumOrS Officially Denied.

Paris Feb. 2O-wild excitement prevailed
on the Bourse to-day as the result of startling
and contradictory reports concerning possible
world complications growing out of the war.
These rumors included the prospective mobilza-
ton OF the German and French armies. The
evening papers also said that serious influence
was exercised by the report of difficulties be-
tween the United States and Russia I'm conse-
ouence o. the refusal Of Russia to grant an exc
quatur 10 Edwin Y. Morgan as United states
Consul at DaIny. FTnanciers asserted the mar
ket was in such sensitive condition that the
widest rumors were taken up and might lead
10 serious complications. The financial authori-
ties said that not since 1852 had a scene oc-
Cured on the Bourse like that Of to-day. AL
most from the opening the leading securities be-
gan 10 fail. French rentes were particularly af-
fected Russian Imperials also dropped. as did
other foreign bonds.
In the early hours heavy depreciatlons &C
Cured on all sides leading up 70 great sacrifices
Of values. Spanish rentes were especially af-
fected by the great confusion which prevailed
over the fears Of international complications.
This condition was aggravated in the closing
hour. and the excitement, which amounted 20
panic. was redoubIed. French. Spanish and
Turkish rentes were offered amid great up
roar. At the close the market was much agt-
tated Russian Imperial As closed at 1923 Rio
Tintos lost % francs. The private rate Of dis
count was 7-16 per cent.
Some Of the most notable losses were as fol-
lows: French 3 per cents. I franc 40 centirnes;
Spanish As. : francs 90 centimes; Turkish As.
2 francs 60 centimes: Turkish consolidated. 20
francs: Ottoman Bank. 26 francs: Suez. active.
IA francs. Some stocks OF the most important
French banks declined 90 TO 20 francs.
No important failures have yet been reported
as a result of the panic, IN spite Of the unload
ing The impression seemed general yesterday
afternoon that the market would drop. and so
far as possible the brokers were prepared to
meet the situation. From Lyons came an
confirmed report Of the failure Of one small
broker.
II is said that several prominent hnanciers
will assemble tomorrow for the purpose Of TAX
ing measures to prevent continuance Of the
panic on Monday. Their efforts will be assisted
by the authorities. who publicly deny the alarm
ing rumors-
The Foreign Office denied the report OF the
mobilization Of the French Army and no infor-
nation has been received that such a step has
been taken by Germany. All that has been done
has been to take measures Of a precautionary
character. not because Of any fear OF immediate
trouble but in order to be prepared for pos
sible eventuaIities. The Foreign Office officials
also declared that the Bourse panic was utterly
without reason.
The Foreign Office declares to be absurd the
report circulated yesterday in New-Tork. Al
legged 70 be from Paris, to the erect that sixty
thousand japanese troops had been concentrated
on the island OF FormOsa with the intention OF
invading the French possessions in the Far
East in case OF France siding with Russia
against Japan. No such Information. official OF
otherwise. has been received.
London, Feb. 2O.-After the close OF the Stock
Exchange reports Of heavy failures IN Paris
were reflected on the Street. where there was
considerable excitement. Consols fen TO S55s.
another low record. other markets were SINH