The Washington herald., 1914-07-25
WALL STREET GOSSIP.

Journal Of Commerce-The steady sale
Of American securities by Europe 10 an
adverse factor.
CommercIal-The formation Of a new
protective committee for Northern Pa
cife securities has bad effect on senti-
ment.
American-odd lot investors are adding
to holdings
wall Street Journal-Besr raiding Is in
evidence, but stocks meet support on
moderate declines
Sun-The market offers residence to
the forces Of contraction, and stocks be-
come intensely dull ON the declines,
Post-Direct sales OF American stocks
from Europe have been an important
factor IN the market for more than two
weeks now. and the resumption of gold
exports after a halt OF month is large
ly attributed to this selling.
The increased activity was at the ex-
pense Of prices, the selling being for
English and European account on the se-
rious state Of affairs between Austria
and Servia. Paris market particularly
has been disturbed, panicky conditions
prevailing there. All standard interna-
tional shares, notably Canadian Pacific.
have been under pressure, but the mar
ket has been fairly well under the cir
cumstsnces. However, Wall Street sen
timent Is extremely pessimistic. The
withdrawal Of Thomas Jones as a mem
Der Of the Federal Reserve Board and
the probable withdrawal OF Mr.. War
burg has also been an unsettiing factor
The question arises. are we to have our
new banking system turned into q polit
lcal machine run by politicians, who
were seh-seeking and ignorant of proper
banking methods? At any rate the per-
sonnel Of its board bids fair to look like
a caricature In comparison with the per-
sonneI Of the board bids fair to look like
England. The resumption on Thursday
Of exports OF gold to Paris win probably
assume considerable proportions and be
the third movement 30 far this year. II
Is due probably TO the return OF Amer
lean securities. The result OF the meet
ing Of H. B. Caiin creditors yesterday
Is another disquieting influence. and It Is
feared there will be unpleasant relations
Wall Street seems to have given up
guessing as to when the rate decision
will be handed down or what will be its
tenor.-E. & C. Randolph.
There was a sharp break in prices on
the bourse in Berlin yesterday on fears OF
general European complications. Impor-
tant bank stocks broke more than two
points ana other stocks three to four
until the banks intervehed to check fur
ther decentralization.
Securities In large amounts, however,
had been unlosded on the decline. and
breaks In Austrian and Russian special
ties assumed almost a panicky form.
The Orient Railway and Turkish tobacco
stocks fell ten points. Russian Petroleum
sixteen points and Russian banks from
seven TO eleven points.
In official circles, the grave possibilities
connected with the strong note OF Aus
TO Servia, which amounted
to practically an ultimatum, were real
lied. It was also believed that further
serious developments in Austro-Servian
relations were inevitable unless Servia
complies with the demands OF Austria.
The note demands suppression of the
Pan-Servian movement and the punish
ment Of those concerned in the assassina-
ton on June IS in Bosnia Of Archduke
Francis Ferdinand
Unless assured Of support from the out
side it is thought the Servians will yield.
The time for replying will expire at s
o'clock this evening. It was said yester-
day that Germany was not consulted in
the matter. but that that nation fully
approves the step taken and is prepared
for all consequences that may ensue.