The Princeton union. [volume] (Princeton, Minn.) 1876-1976, 1913-01-02
NATION N RUINED
BY FEAR |: OF War
Panic From Balkan Trouble
ParaIyzeS Austria.
HAS WORST YEAR IN HISTORY

Theaters Of Vienna Half Empty-o5,-
600 Thrown Out of Employment.
Nearly All Families Have Loved Ones
In Military Service -" ~ey Taken
From Banks and Hoarded. ~
What merely the fear of war can de
to ruin the trade of great nation is
strikingly shown in two dispatches
printed in London papers. The tele-
grams were from the Vienna CORE
spondents of the Times and the Daily
Mail. fl
The Daily Nails correspondent says:
Nineteen hundred and twelve will
go down in history as the worst year
for trade experienced in the memory
of the oldest subject of the aged EN-
peror Francis Joseph. Up to within
a week of Christmas the fear of war
haunted peoples minds and slammed
the door in the face of the Christmas
spirit. r.. .a
There is hardly family in Vienna
which has not had one of it's members
or at least its friends called to the col
ors and sent to spend lonely Christ
mas in the SHOWS of Galicia or on the
bleak banks of the Danube.
Thousands of people suffered stag
gering losses from the series Of panics
and the steady fall Of nearly every Sc
cllrity on the boerse. They had to real
ize on their stocks to meet their liabili-
ties. ,.s,.,,...-.- a4:gs>- s5z Is.
There was no money about at the
black. Christmastide. People are hoard
ing up ready money and refusing paper
currency. and gold is now practically
not seen at all. .-.
Theaters Near Bankruptcy.
'The theaters are half empty For.
an admirable performance Of Strauss
'Rosenkavalier' the Royal Opera the
other evening was ABOUT an eighth fill.
ed. The Lending music hall here is al
ready in financial difficulties. having
been brought to the verge Of ruin by
the present state of husiness.
! :Ehe Christmaa season was ruined,
instead Of, engaging extra hands &
cope With the Christmas rush, the mil
liners ana dressmakers were forced
i this year to reduce their stats. One
large firm sent away no fewer than
40 employees. The books Of a lead
ing dressmaking establishment show
that the receipts for the week ended
Dec. IA amounted to 1890 compared
with S12, 175 in the corresponding week
| Of Last year. f..
altogether $4,000 workmen and
work girls are said to have been
thrown out of employment in the past
[ feW weeks in Vienna"
The Times correspondent in Vienna
| says: 5Sz'- - -'+ @sA.& 80 .
1.-The vice president Of the Dise6at6
Gesel1schaft 6f Lower Austria coli:
tributes to the Neiu9, F'reie Presse an
interesting estimate of the cohs&-
quences Of the tsesnt war panic,
The panic,' he wwffftes;; has thrown
us back into, an era which We belfev-
ed long past. an era when the stocking
was a savings bank. ).
$65,000,000 Is hoarded.
1.-The sums withdrawn from pro-
A"SeA' Z AASCSLucuCSz are ENORMOUS.
The secretary general of the State
bank, whose judgment is surest. is
certainly not below the mark In reck-
oning at f13,OOO,OOO 65,OO0,OOW the
amount now boarded in stockings and
private cash boxes. -.
This war panic has disturbed our
whole economic activity, especially the
monetary circulation. and it's effect is
tWOfOld.
In consequence Of the Withdrawals
of deposits the banks were unable to
place money at the disposal of the
productive industries and were, on the
other hand, obliged to hold strong re-
serves in readiness for all emergen-
cieS. 81 -r..
" The weekly returns of the State
bank now read like financial war re-
ports. In normal times the discount
portfolio of the bank amounts in De-
cember to between 93O,OOO,0OO $780,
OOO,OOO and fa5, 100000 ($175,O00, OO0).
This year it amounts to 95O,OO0,OOe
($250, 1000 600, while the loans on col
lateral security have, also reached
quite an extraordinary figure"
BODY SENT BY PARCEL POST.
Corpse Of Little Girl Found In Box
t7f&fSss.t - e. N a:lal a.. e.