The Financial Panic
I PER UNITED PRESS ASSOCIATION. I London, November 22 The amount of the Baring Bros.' guarantee will be £17,000,000 without assistance from private and country banks. The Baring Bros, will re-form into a limited company with a capital of over one million, which is chiefly provided by members of the family. There is a great recovery in British New York and Continental general stock. It is understood that Sir Edward Oecil Guinuess, of Arthur Guinness and Co., becomes a partner in the new firm of Baring Bros. Mr T. C. Baring, M.P., who is President of re-formed company, places the whole of his fortune at its credit. Messrs J. Hodgson Francis and John Baring and other directors of the old firm retain the right to buy out shareholders at a heavy premium. Since the particulars of the guarantee and reconstruction have been made known, an amazing reaction has set in, and the prices of colonial stocks have risen £ to I per cent. . November 24. . About 3} millions of gold are en route for England, and there is a prospect of the money market! becoming easier.
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Bibliographic details
Feilding Star, Volume XII, Issue 68, 25 November 1890, Page 2
Word Count
188The Financial Panic Feilding Star, Volume XII, Issue 68, 25 November 1890, Page 2
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