Newspapers / Wilmington Morning Star (Wilmington, … / July 31, 1914, edition 1 / Page 1
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".."S.V-1. ;. "--,v - A '..rU.: V'i'w I V: i-'l-w-- 'V'-' 'V, V.-:' :V';4; - -..-, -v - .-.'.'.: . THE WEATHER' Cloudy Friday; Saturday, ; probably, fair; moderate' northeast ",wlttds - ' ' VOL. XCTV-KO. 122. WHOLE KTOf BEB 1 3,713.: A VALANCHE OF SELLING ON AMERICAN MARKETS 1 ! 1 -V:-: : . . ..1 K Mf iSffia i res ; ssshh SIMM wiiiiii) biii ' ' K hV : P" i flUSTRMS EXPECTED TO ' DECLARE W 01 RUSSIA Dispatches From St Petersburg Reach London Last Night That Russian. Government Looks for Declaration From : Austria TodayBritish Navy and Army Quietly Gathering for the Expected Trouble. GERMAN CABINET IN SESSION LATE LAST NIGHT Censorship Ovejr Telegraph Lines is Being Imposed at Berlin. Interpreted at London as Preparations for Mobilization of German Troops- Few Hours Wll Decide Whether All Europe Will go to War. AUSTRIAN FORCES REPULSED 7 while TTTimmmmm ' London, July 3 1 .-Early this morning conies news that the German cabinet, presided .over by the Emperor, sat at Potsdam until midnight and that a censorship "over the tele graph lines is being imposed at Berlin. ; : This is interpreted here 'as implying preparations for Ger- man moDiiizauon ana a icw nourwiu piuuiuiy ucciuc wncm ei Europe is to be involved in universal warfare. It is fully expected both at London and Berlin lhat" the Russian-fcn-eigrivminister,SeiusS Germany's demand for an explanation to the effect that Rus sian mobilization has already been ordered and cannot be cancelled. In the event of Germany mobilizing, it is expected that Premier Asquith immediately will ask Parliament to sanc tion a large vote of credit as a necessary precaution. A dispatch from St. Petersburg .to . Retuers Telegraph Com pany says it is believed in. St.' Petersburg that, Austria will de . clare war against Russia today. . x . - This 3Iormlngfi IJe-velopments. London, July 31 The St. Petersburg London. July 30 With t ; ieption of official reports from Vi - in the briefest form thus far ? -7' g with the bombardment of BelgradVand the capture of several Servian vessels on the Danube little- rtyaplt news has been received In London concerningf the course of hostilities in the Austro Servian war. 1 Numerous reports,' are current that battles are in progress at various points, including one report from Mi lan that' a heavy engaWmeni' is raging-j south of Belgrade tonight," but accord ing to Servian- official accounts, all at tempts on the part ;of the Austrians to cross the river have been repulsed and reports of the occupation of Belgrade are considered. -prematures ; While the news of 'the'actual devel opments in the AustrOrServian war is unsatisfactory, the general situation is one of growing menace. There is a vague-report that "Austria and Russia are still engaged .in diplomatic nego tiations throttgh the medium, of Ber lin, j direct .-diplomatic - intercourse be tween Austria and Russia having been suspended, but -slender hopes are en tertained of success in this direction. Germany Demands' Explanation. Germany has addressed a note to Russia requiring an explanation of Russia's mobilization, -and in the ab sence of a satisfactory reply it is fear ed - Germany also may take steps to mobilize. It is understood that on . the failure of. his . conference ' scheme. Sir' Edward Grey fnvited Germany to sug gest some way out of the difficulty and all eyes now, are turned, to the German Emperor, as the man .xrpon whom Eu rope's fate vdepettds..; . . It.ts belfeyed: that if ,the German Em peror desires ; it, peace will be main tained. The ; German view, is that it behdoves' Great Britain and France, to bring .pressure to bear upon Russia. to allow the two principles to settle their differences : without ' outside v Ihterfer- wDER RIVERS INTO SERVIA . In -the meantime,' every nation in-Europe :is takiixg active, steps to-be pre pared for any eventualities. The . Daily Telegraph's correspondent at Vienna, who jis often the. mouthpiece l of .the Austrian, government, .says that Sir Edward Grey's .mediation proposal must not have ;he object of "modifying, the peace terms agreed upon by the belligerents., 5Sc.. -. , . t - ; The AustroSeryian,. conflict inalts: phases, from the w.ordJn,g of . the. note to the ratification of a peace treaty,": he says "is deemed to be a matter which concerns those States alone, just as Count Aehrenthal (the late Austro Hungarian minister of foreign affairs) refused firmly; to discuss the annexa tion of BosnlaJind 'Herzegovintitn: any power but Turkey and accepted the suggestion to come to a conference only with , the express- condition that this question should be "eliminated from the list of. topics to be dealt with. "So wjtll Count Von Bechthold de cline to -admit any interference .be tween Austria and".. Servia-'-whenthe' conditions of peace' are being settledT signed and ratified. . - If this correspondent's statement represents the Austrian' policy, asspro-i bably it does, war with Russia appears to be inevitable; ,;i:' Belirrade Reported . Captured. A Serolin ' dispatch to' The Standard says: : - The Austrians cfos"sed the Danube 30 miles east of Bergfade and the Save ten miles ' south. Belgrade has been. captured and is now Occupied by Aus-1 trian troops, and the force which in vaded ServtaSemendria- is - advancing along the road which -leads to OsiDa- nica, and ultimately to -!Nish. The occupation of 'Belgrade was carried out without serious difficulty. The Invading -troops crossed the -river, partly- hy. means of . theVremnants of the railway bridge wfitf was blown up by the Servians, and; partly by a. pontoon " bridge constructed; under its cver, and approached 'the Servian" cap ital from the v south. , The! attacking' forces advanced "by : a" steep hill, driv ing the Servians before .them." ThV Servians retreatedr-, partly ' alpiig "the road leading v to Groca -and partly ; to wards Popovitch. The .losses ortibotrr ?t,Jr.ias appeared-1 Jv- bn light.-, 5 "Th,e invasion of Servia at Semen- dria -was a. inuch .more difficult task. The Austrians at night built;a pontoon bridge f?om;: Island?, !th :middle of the Danube where the channel nar rows to 200;yards and the current is swift. The building of the bridge was. perceived from the Servian shore and the Servians opened, fire. The attack ing forces were aided by artillery and iiifahtryalong the' soufh shore of the islanu and succeeded in'tJnpleting the' bridge over which they passed." . Second Bombardment. Belgrade, July 30. The Austrians opened a heavy cannonade" in their seci ond attack on Belgrade at 11 o'clock last night. i-The guns of the Austrian :-ri'onitbs:afrd: tnebatteries at Semlin nrea until 2 orciock this morning. Sev eral buildings were damaged. The. Servian guns" replied only' occa sionally. An Austrian ' gunboat was badly damaged. An attempt by the Austrians to cross the river was re pulsed, with; severe losses by heavy infantry arid- machine gun.: fire. The rifle fire lasted until 4-in the mOrriing. There were no Servian losses. . The Austrians made several other at tempts to cross -the.' rivers. Save and Danube!: but were "."everywhere - driven backi v l-trwis reported they Intended to" renew their bombardment of Bel grade todays t-V:i Official Acconnt. Vienna,'; July 30. The following offi cial dispatch was received here tonight: "About f midnight machine gun fire was opened from Belgrade and in re ply to Austro-Hungarian monitors bombarded the city. - "At 1 rrnrr in fVio tvi rtm n cr Vi o powder magazine in Belgrade Nblew up. At 5 dawn the Servians' made - another unsuccessful attempt- to destroy: the bridge '.-. 1 i . . ... ' "As a shots were fired from . the Ser vian . customs . house upon our 1 troops, our 'artillery was -trained upon the building which was quickly demolish ed. Thi: was followed by -the sound of rifle fire". Simultaneously fires broke out .at- different points ;in Belgrade. ' ""During "the. Servian . attempts to blow- up the bridge ; 16 Servians were captured .by .our. men and taken to Te- tervardein. , . . .i '1 1 1 is J omid.9rio us disturbances have broken -oit: in Ji6 w Servia where i One Million, Three Hundred Thousand Shares of Stock Sold on New York Exchange Yesterday, Which Bore Brunt' of World-Wide Liquidation-Scenes on Wheat Exchange at Chicago Compared With Tues- day- New Orleans Cotton Down. ' New York, July 30. The New York stock exchange ; bore the briint today of tremendous world-wide liquidation' of securities inspired solely by the war clouds which today, more ominous than ever, hung over allEurope. It cen tered here, because there is no other primary security market in the world which is not either closed or under re striction. . ; " Prices broke from six to 17 points under an overturn of l,3t0,000 shares of stock, a large part . of wiich repre sented the "dumpings by foreign hold ers ! of Americans securities and the selling by foreign speculators. While it was the most" drastic de cline since, the domestic panic of 1907, and recalled the; exciting scenes that attended"., thosef !.. days, international bankers whohave their-Angers on the,, pulse of the situation expressed pride in the fact that the American market had so well withstood the . avalanche of selling which , has. been actively in progress nearly a , week. ' Financial Situation Sound. ; There was talk, of allowing the lead of the foreign bourses and closing the exchange, but the Sentiment .against this appeared to be strong and no ac tion in that direction was taken today. Clearing house bankers .declared today that the financial situation here was absolutely sound and this was reiterat ed by financiers who called to discuss the situation' at the office of J. P. Mor gan & -Company. f .In this connection the clearing house committee decided to postpone for fear it would ; beF- misconstrued, a meeting for transacting . routine- business. : Though . values , tumbled precipitous ly, one of the features xt today's trad ing pointed to as significant of the do mestic situation, was the large amount of Investment buying ''at the. record low-prices to Which many of the stan dard securities dropped. It was fur ther pointed out that ; there, already Hcsa been a,4orig period : of liquidation with messages for their correepdndent and arbitrage brokers prepared for t6 morrow's early business from abr64d.. .1 the non-Servian elements are' reported ,n this country, so .that the : onslanght to have refused to- enter the army. correspondent of The Times says par tial mobilization has been ordered by Russia and is confined to the army corps stationed along the borders of Austria-Hungard. ' The prolonged dip lomatic conference at St. Petersburg adds the correspondent, have been de void of practical results: " ' : "The persistent unanimity of Aus tria s and Germany's bland jsponse to Russia's - despairing appeal- for a hearing," he declares, "compels the. un willing conclusion -that all this diplo matic effort has been, mere by-play to gain time. ... " ' V - The Chronicle's St- PetersDurg, cor respondent declares that though de scribed as only partial, the Russian mobilization ' in "efffecr is -general and absolute and that the sailors of the Baltic and Black sea fleets have been ordered to hold themselves in immedi ate readiness. V . The Chronicle's Warsaw correspon dent says that although officially , there has been no mobilization ordered " in Poland, the military authorities have taken charge of all ' the railways. The Morning Post in an editorial fol lows the lead of the Times in declar ing that Great Britain must, if occa sion arises, take up-arms to prevent Germany crushing Prance. The Berlin correspondent of The Times fears there is little to be hoped from Eir Edward Grey's latest media tion proposals. '; . . England Prepares For War." London. July 30.- The British navy 's prepared for . war at a moment's notice, and the British army Is quietly and swiftlv nrenarinsr. The war of- throws cold water on the . word mobilization" and-lias Issued another carefully framed notice to the news Papers that only "the usual precau tions" are heinp taken. - Nevertheless vrv steo necessary to Dlaro tVn lnit -fnrrim on a. war footine, except the summoning of the territorials to arms, has-been taken. rs todav o Ibft.-tjre Dared for t call to dntv - - - - 4 ' A lare section f r the engineer's staff of the territorials' has been; order-. ta on duty. Some of these forces re being sent to Ireland: to ; replace . i . . i o yj L lilt) ICBUia ri hnm i a ira Kaon t Ara txrrt fmm 'iat T i i T. r O fnr A tn MAntiAttlnn W 4 1 H '''I defenses, parjlculary . on t'-rn coast. '". i - ' v officer and- private of - the " ' stablishment on,' leave ' has f ailed. All ' the police on !; returned to duty. - .""'J!TH IrOltl fie the the K- Ev. rt?Ui:, Th.-. ly manned by skeleton staffs, are now port the lights all along the coast last night played on every. Incoming and out-going vessel. .None but the- admiralty, which is in ' constant touch .through wirless at White Hall, knows th'e .whereabouts of the first fleet, which left Portland, yesterday, but it is a safe presumption that the fleet is in a position close to the channel where it 'can strike the North sea in the event of hostilties. 4 A notice has been issued-virtually closing Portsmouth harbor to private "craft, according to a Central News dis patcb. - The policial forces of the country also are almost mobilized solidly, pre senting.' in Premier Asqulth's words to the House of Common today "a unit ed front." Th remarkable sight was witness ed today of Premier Asquith and Andrew : Benar Law, leaderof s the op- nnaiHnn. who a f ew days ago were on terms - Of personal, as well as poll .! hostility, driving in the same car for a.ponsultatlon-with Sir Edward Grev. secretary ; for foreign, arrairs. The Prime minister announced in th TTmiKA of Commons that the amendment bill to the Home Rule bill would be '"dropped for the presently the consent of all parties. S ' . Austria Pessimistic. ' Vienna! July 36. Opinion concern ing Russia's attitude in the Austro Servian situation is becoming extreme ly pessimistic. The feeling of pessi mism iwas strengthened today by news of Russia's preparation which was re garded iiere as meaning a complete mobilization of her forces. It Is well known here that the peace enoris ot European diplomacy will not-succeed if Russia considers her long fostered plants at last ripe for realization. , The only news thus far received, from the Servian side concerns the damage to the Semlln-Belgrade bridge. This bridge was regarded as -neutral and its destruction is therefore con sidered, a breach of international law. A semi-official dispatch reached here tonight - concerning ' the movements of Austrian troops says: ,'. - ' "The converging line of our troops on the river Drina has been pressed fnmrarn tn thfi main arm of the river. There was " some fighting during . this PRESIDENT TAKES A HARD IN STRIKE Western Engineers and Fire men Called to Conference WITH OTHER SATURDAY Committee of General Managers, Fed eral Arbitration Board and Strikers to Gather at White Blouse With Wilson. WILL JAPANESE BE INCLUDED IN WAR? Threatened Hostilities , May Invade Far East. ALLIED WITH ENGLAND m . Vara JHCUlttlw'O iiviiuw , i vutwnv- ttaauvxa advance,, but not'of a. serious foarac The ' President immediately invited the Chicago, July 30. President Wilson has intervened to . prevent a strike of 55,000 engineers and flrement on all railroads ;west,: of.. Chicago." Mediation by the Federal' board having failed, the President today requested the members "40f 'the - board, the general managers' committee and represen tatives of them to confer with him at the JVhiteHouse .Saturday. ; -' His"4nvitetAon was ac cepted! William " 1 - Chambers and Martin A. Knapp, members of the Board - of Mediation, Conciliation and Arbitration, left tonight for Washing ton. Several members ' of the '. gener al -managers'; committee also started for Washington. - ' i 1 AG. W.- W.- Hanger, third member of the board, remained ;; in - Chicago to lobk after possible developments, though none is expected. If the Presi dent cannot persuade the employees to arbitrate, a strike; "will , be called Wed nesday; or Thursday, -it is said. - In additionto the engineers and fire men, .thousands of other railroad em ployes will be involved indirectly. Mr. Hanger asserted, tonight that after the board: had met : seperately I with the employees and employers for three r days vthe -: tutility of ' aj settle ment "by "madiaten" was - realized. The commissioners met with the Committee Should Bis Powers of Europe be Led Into War, First ' Naval Battle ; May be Fought Oft the " ..Coast of China. . . Washington, Jnly 30. The possibil ity, that Japan migit become Involv ed In a general ; war should her ally, Makes Reply to Arguments of . . CblonelpOsevelt. IS SECOND : STATEMENT Without Mentioning Names of Former President Secretary of State i Answers All His Arguments ' Against Pending Treaty " England, be'drawn j into' the threatened injghtsrby; .Bec Without 'i liv mimprlnimiletac.hnKMltS i' points, and a battalion of ff f1-r nil'. vv.,.miillt' : , ' wvi CII D Kor. MS abut to embark for 'Hong tr.: c 1 .... . . .... ' . . J- the It; - "phifght Station Fully Manned. C6a rchiight stations on the eas- whose office Is to - guard tm"a surprise invasion, and usual -mar ned. Coastwise teamer t rn ter. About ten- Servians were Kineu. Bands of Servians vainly attempted to harr'ass the Austrians at Bjelina." ; BJelinais Is located in the h.orth cor ner of Bosnia, between the rivers Save and Drina. ' .Scenes o Enthusiasm. Scenes of --extraordinary enthusiasm accomparti ed Emperor ' Fran cis-Joseph's return to the Austrian capital today. Enormous throngs carrying banners and led "by. semi-military : bands form ed . Into procession behind ' the veteran monarch and escorted .him to Schoen-; brunn Castle 'amid a continuous roar Of cheering from the people-who pack ed the . streets. ';rit' ... :":ih '. ' "A" movement is on fo6t among Amer-, lean cltiaens and British subjects : liv ing in Hungary to form a special corps ? (Continued on 1aee1 Eight) seven days more in the hope of finding I g-ested the first ' clash between Europ ean powers 'might occur in the China Sea; ( Arid in case of British fleet there, flnmg itseif ;i engaged Sf in; hostilities with German and- Austrian and Italian some grounds on which the men would agree, to"" arbitration. Hope, he, said,- was abandoned 'yesterday and ' the vortex in Europe, was discussed coday in diplomatic circles here. The treaty of alliance between Great Britain and Japan, signed in 1905, and renewed in 1911, provides that j the two countries shall supp'ort each, ;Other . injtheejjeft of an attack : or k aggressive action against either in Eastern Asia or. Ind)a by another, power. - , - There hae- been , rumors of secret clauses, greatly extending the scope of the convention,, and making It apply 'to hostilities conducted . outside of the Far East. . ;;-:V;- j ''""'' ?'-vr-' Therefore 5 the possibility of Japan's being drawn into any war that might involve Great, Britain with . Germany oc' Austria or Italy Is believed here; to hinge entirely upon naval develop- ments in the Far East.- In those wa ters ?are many ' vessels of European powers engaged in looking after the interests ; of - their' citizens resident tn Chin K"orea and Japan. -.r i'W'iu'Hlstory Repeat Itself t x : Just as the first blow in the". naval war between : the Uiifited ; States nad .Spain, in 898; was unexpectedly Btruck in the far away, Philippines, it Is sug "Washington, July 30. A: second for mal statement in defense' of the pro posed. Colombian treaty , was issued to- factions to. Washington to meet with About 97 per 'cent, of " the ; engine crews voted to, strike'.-when the ballot 1 was - taken recently. . Their leaders declared 75 per Tcent. -o-. them would obey the strike order and , that- steam traffic ' west .of Chicago ; would .- be parallyzed. '.," .- - .. v;:' . 'With the railroads facing the move-1 merit of the largest agricultural jrield in" years,' a strike at this time - would be"'-unusually -unfortunate the .media-, tors felt, and, they asked -the: President to-intervene. i: The committee of engineers and flre-j men; headed by Warren S. Stone grand cbief engineer Of : tne tfrotnernooa .-oi Locomotive Engineers, . and ;v. S. Car- (Continued Ton; Page; Eight)3 vessels, " many t believe ' Japan would be called , upon to aid her- ally. . " :t-. ;;- Aside from 'Japan's naVy, the inter national Far1 Eastern; fieetsis made" up largely of cruisers. Many v of the ves sels, however, . are more pbwerful than any of the American warships that fol-j lowed . Dewey's pennant;' into" Manila oay;' sixteen' 'y ears ' ago.- ivife fJv Great ' Britain.-inclttding. her - 'East Indian" squadron, 1 has4 two battleships, two large cruisers, four light cruisers ana 5 smaller " praft,-; Including ; gun boats, destroyers and " torpedoes'" and submarines.. ' t' - Germany, has twtr,Jarmored cruisers,' four" light 'cruisers,' seven gunboats and two destroyers. -: ,:' m'Z. Russia, has four light cruisers,' eight small; gunboats,! ?(Ji destroyers and. thij-; '(Continued - a Pago. EiEht): mentioning .: Colonel Roosevelt,' Mr. Bryan' replied to " arguments advanced by "the .former President in his - at tacks upon the administration's ' proposal- to pay Colombia $25,000,000 in t ' claims . ' g-ro w i ii jg ' out of the separatfqii of -Panama and acquisition-of the canal zone by the United States. , ... ...'..' Reiterating Vhis declaration that in considering ' the treaty it is not neces sary to examine into the . merits of the controversy over the action, of the United , States -in -1903,' the Secretary urged that, even if .- the United States in - acquiring the canal zone : was ex ercising a right of - eminent domain, it Was not : relieved of liability for actual - damage, resulting . to Colombia. -': Colonel"-Roosevelt recently asked the Senate - foreign ! relations 'committee to hear a statement from him before re porting" the pending treaty.;- Chairman Stone replied : that ' if the committee decided to pass upon. the" cdnvntion at this session it would be glad to hear "from the . Colonel, but the general un derstanding - is that.; the "matter- will go' over until December. . Secretary Bryan, - in . his statement tonight savs: ; ' , . i "In considering -.the Treaty- 1 wth "Colombia it is not necessary , to ex amine ; into ' the- merits of the controv-" ersy 'relating to the ' action , of the United States in -,-1903. . -The : ; present treaty deals with thex situation as ,lt pregerits-Itself today, and is fully justi fied no matter - what . . theory one may' adopt as to the . course .pursued by our nationX in, connection ;. with the separation of Panama from Colombia. Some : contended that. -the action taken py the United States, was based upon the - necessities..1 of the :: case .and those necessities," as - stated by those-who take 'thia position ware that Colombia was not able to build; the canal her self " and was not ' willing ? to i sell to theUnited .Stateanipon:resonabIe terms jthW'rUfljt to'build .tb,canal ;.; Those "who take ' this position put the j-United v State in the; attituae "of exercising 4tbe right '.oft . eminent do- from abroad, could have not come at a more favorable time. '. " ' : xne local market was prepared in va measure ;.bef ore 'the.' open Ing for. what was to come. Early advices from Lon don and-the continent pointed to a cri sis in all- European' centers. The ac tion-, of the - banks of England: and France and .The Netherlands in ad vane ing their . discounts added to the In creasing severity '. of the financial strain. - This was augmented by the suspension - of business at all minor European: exchanges and commodity markets and a, number of failures in London. : , , , , .Opening Prices Werfe Down. Opening , prices were down , 2 to 3 per cent; in -some instances even more. From the outset the market manifest ed its inability-to stand up under the enormous offerings. Selling for London alone was estU mated, at more than'50,0000 shares and a conservative estimate placed the to tal foreign, selling at .200,000. There were intermittent rallies of 2 to 3 points, but these gains were lost in the final hour, when the cables told of Germany's representations tox Rus sia". From - that stage - until the close the selling reached greater ' impetus, though a few issues made some recov ery from the lowest. Notwithstanding that the war risk rate of Insurance- on . gold shipments went up- to-$10,000 per million today, 8,500,0Qfl. moreyQf the metal was en- crecred f or Eiirdne.' The financial, rlls. trict continued itsractivity long after the close of r the market and lights burned late tonight 1 in the great Wall Street skyscrapers. " .Etankers with for eign connections kept, the cables busy Gloom Develops In Wheat. Chicago, July 3d. Contrary . to pre'i vious - experience, wheat prices in the final -dealings here today were being driven, not up, but down by prospects' that the Austro-ServiahZ war would spread. After, a rise of nine cents a bushel, values shrunk as much as three cents in 30 minutes, largely on account, of bold assertions that the bulk of the surplus crop of the United States,' In- . stead of being rushed to Europe, might ' be held in this country as a result Of general war disrupting all ocean trade. Leading exporters here were quoted : by name as declaring that export bus!- ness iiv wheit from the United. State already had been paralyzed. To a les ser degree, the same statement applied to! all - dealings in wheat, especially speculative transactions. One of the 1 consequences was the action today of prominent' firms on the board of trade giving their pit representatives orders to "take a furlough." ;,' Business which three days ago was counted in millions of bushels dwin dled at times today to almost the van ishing point. Hazard of being whip- sawed out of a fortune by the chance ; of a moment proved too much for even the most ' seasoned traders and the ! -1 principal efforts seemed to be. directed ' ' to , keep prospective investors out lot .-, the market. ' ' The-Reason for Slump. - It was pointed dut that practicalljr all .the ocean-carrying tonnage was owned by foreign capital, was subject to . government use for army trans'- ports and that grain laden vessels in the case of a general war would be the most keenly sought prey , of hostile . fleets. . In other words, It was said, the IJnited ' States largely would lose its foreign outlet and be powerless to prevent the 'piling up of wheat at teV- "V minarl markets, the possible blockad ing of railway, tracks or the glutting . of storage .facilities. ; . . ; That yiews so gloomy were not unl- 1 : ! vejsaljy e,cc.ljJiy..boldfi.r was made' apparent' when 'pf ices' lat' ,: " today went six .to seven cents, higher than, last" night and prices today for the first , time this year went abov' the doilarmark. " . For the first time the war scare to day affected materially the dealing! on,the Chicago stock exchange. .Sell Ing was general and ' resulted ' in th heaviest breaks in recent years. The sharpest declines .were in Sears, Roe buck and i Union Carbide respectively 15 1-4 and 17 points down. Big Break at New Orleans. -V. NewOrleans;' July 30. The- New Or leans cotton, market today experienced its most decided break in, years on re ports from -Europe. At the lowest, pric es were 82. to 90 points below the close, yesterday, but in the last few minutes, the market took a slight brace on prof it taking sales and closed 77 to 80 points down, or at an average of about $4 a-bale. :'rr r ":;.' First' sales were at a dollar a bale less than the- closing yesterday.-' "Tho decline fromthis level was-gradual un til at noon th'sTmarket was 51sto 68 points' down. : The decline then seemed to be checked for a time, but no ma terial advance could be made. ' Within, a few minutes after it was announced. Germany, had demanded of .Russia- an explanation .of? her intentions, prices went 20 points farther down. No trade .paid attention to anything except war news and while this was not' reassuring toward the close of the ' day, prices were steadied somewhat br the ' many -buying orders sent ln by shorts . satisfied with the,, large profits. . Sensational: Cotton Market. i" New York, July 30. Cotton broke $3.50 to '$5 a bale today in one of the- (Continued -on i Page 8.)- . ,? COMMISSION ISSII REUISED LUMBER CANCELS RATES Of the Southern -Railroad in North Carolina. - Declares That More Advances Were : - Made Than Decreases In Attenipt ' to Readjust Rates on Lunt- '. - ." ber In the State. , PASS FIRST OF TRUST i THIS WEEK MEASURES II Senator on Both Sicfes of tho ' House Are Confident ;J ; (ConUAuedon Page-Eight) - - Washington, July 30.: The Southern Railway's revised , schedule of lumber rates from producing regions in North Carolina, South Carolina -and Tennes seeto Virginia and ' points North and East, today was cancelled by the Inter- State v Commerce ' -Commission. " The proposed tariffs involved both Increases and reduction, and were": held 'to be1 un justly ' discriminatory .against certain- grades of lumber and certairt" destina tions. The" ; commission; expressed no prejudice against the-;rlgbt of the car-'. riers to present another plan 'of revi slon designed -.to -' bririg about greater i- "It- appears from'' the - evidence,' says the cpmmlssionV "that the proposed re visionwas made "solely or the p,urpose or bringing about a. readjustment or realignment ' -of the plumber rates i to place all. sections' of . the ; territory' in volved upon-? a; uniform, basis and that - . -(Continued on: Page Eight) N That Flnal Action bn Trade Contlnls slon BUI Will be Taken by Satur- ' ; ' - -. day Others Are Well on -;v . ' Way Floor. ' - . .1 , ' .',-' , Washington, ' July 30.. Administra tion and Republican senators alike perdlcted , tonight that the trade com mission bill, first , of - the trinity of the anti-trust - measures, would pass ed ' by, tomorrow nlgh- or - Sautrday. Rapid progress was made today . with evidence ? of h. co-operation on the part of the minority to expedite the trust programme in hope ; of early "adjourn- '-Z- r- ' Z1" V ?",Y ' Next-week :tHe Clayton bill will be considered and leaders of both parties predict that ifls; iieasure together with the- Railroad - Securities bill can be- disposed' of-- before August SOth In conference,"':. it Is 'believed the ' amend ed bills can be agreed upon in a.'weekJ Such J a programme carried out vr bringi' adjournment, by , geptemberl, ' "Diseusslon 'today of the trade com mission bir Centered upon the nature df the court " review to ;b.' provided for-the -Gr&itir ofTtb c6mmislon la ' Contlnued on Page ElghtJ ; -; i i mi)
Wilmington Morning Star (Wilmington, N.C.)
Standardized title groups preceding, succeeding, and alternate titles together.
July 31, 1914, edition 1
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