Omaha daily bee., 1914-08-01

Whlle AT the same time lhe continent con-.
tinued 20 pour stock into London.
Bankers here had been trying for days
10 get their customers to take up this
atoek.A but the impossibiity of finding
hoRsh and the inability to sell the securi-
ties caused credit business automatically
TO cease and the closing OF the exchange
became necessary.
The street today was fun OF dealers and
their clerks discussing the situation In
more or less mournful tone.
The banking situation in London has
become so abnormal that II is understood
that the British cabinet at It's meeting
today discussed the possibility OF taking
measures TO prevent a possible panic
The Bank OF England was today charging
10 per cent for weekly Rdvances-an un-
precedented rate. The rate OF discount
was raised TO s per cent
There has been nothing in the nature
of a panic or run, but officials have
been quietly paying out gold and silver
since the opening of the bank this morn
! irg.
wall street Exchange Closes,
( NEW YORK. July 3i.-The New York
stock exchange was closed today on ac-
count OF the European situation. The
! Consolidated Stock exchange and the New
York curb market also ceased business.
| This was followed Immediately by an
nouncements OF the closing of exchanges
in the other chief cities throughout the
country.
This official announcement was made
| by the secretary OF the Stock exchange.
"fhe governing committee decided that
the exchange be closed until further no.
] tice. and that all deliveries be suspended
until further notice"
with the Suspension OF business here
transactions in securities the world over
came virtually to halt. New York for
the last few days had been the only great
market OF the world to carry on business
as usual The decision to close came sud
denly ana unexpectedly a short time be-
fore the usual hour for opening,
] II was at meeting OF bankers at the
offices Of ], T. Morgan a Co. that the
decision was reached After a long dis.
oussion It was decided that the strain on
credits might reach a dangerous degree
II the exchanges were open. No definite
period for the closing OF the exchange
has been set
Stock exchanges have notified their
/
stock until further notice
william c. Van Antwerp. a governor OF
tho exchange, said that it was the firai
time since 1873 that business had been
suspended for e full day.
More Gold sent TO Europe.
The movement OF goid 20 Europe, which
has reached unprecedented proportions
during the last few days, was continued
The steamship st. Louis. which sailed for
Europe today, carried the largest amount
| OF gold ever taken from any port OF the
world on a single vessel. The total value
OF the cargo was Sl1.O25,OOo The total
on this movement OF gold in five days
aggregates tt5.4S5.0oo.
Tho New York Coffee exchange followed
the lead OF the stock exchanges and sus-
pended business
II Al a special meeting OF the board OF
governors of the Stock exchange Presi-
dent Noble was authorized to appoint q
committee OF five governors TO make rul-
ings regarding deliveries on the cupb
Deliveries on the curb were suspended
unless by mutual consent between ths
contracting parties
Gold at Premium IN PariA.
PARIS. July sl-Gold was az IA per
cent premium heretoday. English SOW
ereigns were selling at 2S francs each,
instead OF the normal rate OF slightly
lower than IS francs.
A cabinet council Is TO be called tomor-
row 10 consider an extension OF the terms
OF payment for obligations falling due.
The apprehensions OF the smaller trades
people here have gone 60 such an extent
that many OF them refuse TO take the