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Show A TOTTERING BANK. A Great French Institution Renorted to be Hanging on the Bagged Edge of Utter Collapse. THE GOVERNMENT ASKED FOR AID After it Had Been Refused by the Bank of France No Arrangement Has Yet Boen Agreed Upon. Paris. March 12. The Societe des Depots de Comptes Courants is in a critical position. The societe or bank suffered acutely during tho recent fin-aucial fin-aucial crisis iu London and Buenos Ayres. It now has only ltftmO.OOO francs on hand with which to meet claims amounting to 08.000,000 francs. After a consultation, it was decided to ask the government for assistance. Consequently M. Donon, managing director, called upon M. Kouvier, minister min-ister of finance, and asked M. Kourier to advance tho societe 50,000,000 francs. After making inquiries, Kourier asked the bank of France to come to the assistance assist-ance of the societe. Tho Bank of France directors, after deliberation, refused to grant tho assistance. as-sistance. Kouvier then convesed a meeting of the directors of the leading financial houses of 1'aris. The meeting was twice in session yesterday in the endeavor to bring about an arrangement arrange-ment similar to that which in the case of the Baring Brothers of London saved that house trom 'utter collapse. It failed to come to an understanding at the lirst meeting. The result of the second meeting das not yet been made public. It is stated in financial circles that the first reports of the Sooietie being in difficulties were promoted by bear operators op-erators on tho bourse, and that when the rumors were lirst circulated the position of the bank financially was sound. At 12:15 p. m. the Societie is meeting all dematyls made upon it by the run which set in when the alarming rumors became freely circulated. As a result of the meeting called by the minister of finance, the Bank of France has agreed to advance the money required to tide over the difficulties diffi-culties of the societe. The following is the basis of settlement settle-ment decided upon: Tho Bank of Franco advances 00,000,000 francs to tho societe which sum is guaranteed by bills of the societe and the societe calls for 87.) francs per share from its share holders, and financial houses jointly guarantee a sum of 15,000,000 francs to the Bank of France assetts. Tho societe soci-ete will be assigned for payment. It is understood the liabilities of the societe are under 60,000,000 francs. |