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Show tiieuirimj urtiiv.TnnunLE. They Had Overloaded Th-nts-lsra Mllli Argentine Mocka nnd Ne-nrlllra New Yobic, Nov. 10. The fol-lowing fol-lowing explanation of the cause of Baring Bros' trouble and the final clal situation abroad was obtained frum a gentleman of prominence in this city. The whole trouble with Hiring Brothers appears tu lie that they have gone too deeply Into what are called Argentines. They have overloaded themselves, with the stocks and securities of the Argentine Argen-tine Republic, which have been issued is-sued to an cnormtus extent. The whole country bas been overdone in the way of Internal improvements, aud this forced boom has led to the establishment of some of tbe largest financial institutions In the world. Buenos Ayres has one uank which is larger than any other bank iu the world except the Back of England, Eng-land, and two larger than the Bank of France. A man named Sanford, who Is a member of the firm of Hale A Co., Buenos Ayres, lias done more than any other man towards helping along this Argentine boom. He is one of the greatest ai.d nlost successful suc-cessful promoters of financial enterprises enter-prises of his time. He is a remarkable remark-able man ami one of the most plausible plausi-ble talkers I ever met. The influence influ-ence which Sanfard came to acquire over Lord Bevelstoke, the head of the Baring Brothers house, Is one of the meet curious things in financial history. Lord Itevehtoke Is the embodiment embodi-ment of a hard-headed man of business. A conservative, shrewd, cool Englishman, he comes from a generation of financiers and he Is tbe third of his bouse who bas been knighted. Lord Ashburton and LorilNorthbrook, Govercor-General of India, were bis predecessors. His brother. Sir Evelyn Baling, is managing man-aging the finances of Egypt for the French and Enzlisb governments, and another brother represen I Eng-lUh Eng-lUh Interests iu East Servla and elsewhere. Sanford seems to have fascinated Lord rtavehtoke, and Baring Brothers Broth-ers have gone into Argentine scruritn In what Is now seen to have been n reekles- way. It Is probable that about fiftevu million pounds or 375,000,000 have been forked up by the Barings ill South American securities. Nearly all of their entire obligations of 17,000.-000 17,000.-000 a re in Argentine railway, water worjss, harlor ImprovemenL", national na-tional aud ft ita bonds, and industrial in-dustrial schemes in tbe Argentines have It-ell pi iced by the Karines amounting to over 31,000 000,000. These securities arc held very brgc-ly brgc-ly iu England, probably fifty per cent. France and Germany hold tbe other half. |
