New-York tribune., 1915-11-30
Occupation by Enemy Pre-
vents Richest Department
Taking Bonds.
SUBSCRIPTION NOW
EASY FOR BRITISH
Exaggerated Estimates of the
Amount Called For Has Had
Bad Effect on the Public.
BY YVES GUYOT.
ES.MInlst~ Of PusIlo worts. EdItw ~ Assaos
Eosnsmisue ct Flaneltrs."
[By Cable 70 roe Tribunal

Eo4HemNue d fiaheie!s
IBy csbl. 70 Tie Tribunal
Paris, Nov. 29.-The new
loan absorbs all business. Its
advantageous conditions appeal to
both investors Of savings and
capitalists, apart from patriotism,
so that every one is drawn in. But
Frances richest department out
side the Seine, the North, which in
cludes the countrys greatest
fortunes, cannot participate, being
occupied by the enemy. This makes
an important gap.
Arrangements have been made to
facilitate British subscriptions and
the banks are authorized to lend on
provisional certificates as on the
scrip itself.
The people are calculating the
loans total, but some writers, not
realizing what s2OO,OOO,ooO repre-
sents, indulge in the widest ex-
aggerations. This has bad effect
on the public and may cause dis
appointment even II the result sur
passes sensible anticipations. The
total certainly would be increased
if it was possible to sell shares
freely, but there are no buyers and
offers only cause lower prices.
The French 8 per cent rente stays
at 64.5O, but Spanish funds have
lost 7 francs in a few days, de-
spite Spanish buying. Holders Of
Balkan funds would gladly get rid
of them, but they are no longer
quoted. Metallurgic stocks have
weakened slightly. Creusot is down
90 francs to 1885, and French steel
IS. to COS. Coppers also are lower.
Rio Tinto touched 1900 from 1922.
Parliament is preparing law on
taxation of objects Of food, lighting
and heating which causes great ap-
prehension. The government pro-
posed that the right to impose these
taxes be given TO mayors, but nu-
merous mayors in Parliament, fear
ing the resultant responsibility,
passed the right to projects, thus
rendering the government re-
sponsible for the price Of all useful
objects.
The governments own purchases
contribute to a rise in such prices
as much as the shortage Of supply.
Occupation Of the northern depart
ments obliterated 60 per cent of the
French sugar supply, but after buy
ing by the commissariat department
in 1914 at AZ francs a hundred kilos
of sugar No. 3-worth 1925
centimes formerly-the price has
risen to Sc to-day. Similarly, for
meat the state buyers paid twice or
three times as much as private buy
ers.
The first measure to take would
be to diminish such causes of high
prices, but the law is powerless to
modify administrative methods.
Last Friday "Le Journal pub
lished an article stating that since
September, 1914, several railway
trucks loaded with artillery ma
terials have been stalled in the sta
ton of Cognac. State railway
authorities admit the facts are cor
rect, but place the blame on the War
Department. Partisans Of private
as opposed to state exploitation. of
railways criticize the railway
authorities for so long paying no
attention to these trucks, which are
urgently needed elsewhere.
mention another unsatisfactory
case. Two Spanish workmen re-
turned from California via Bor-
deaux with s4O0 in American gold.
The law Of July 10, 1915, forbids
the export of gold from France, and
so the workmen were arrested at the
Hendaye customs Office on the Span
ish frontier, and the decision of the
Bayonne court of November % con-
demned them each to eight days i'm
prisonment, with confscation of their
gold. If this decision is legal it
certainly does not conform with
equity and indicates the need Of
modification of the law.