The Washington herald. [volume] (Washington, D.C.) 1906-1939, 1914-08-09
CAREFUL REVIEW
BEFORE Opening
Situation Will Be Thoroughly
Investigated Before New
York Permits Trading.
SOUTH AMERICAN TRADE
Results Would Follow Prolonsed
War-London Reports Demand
for American Stocks.
BY w. sTEALEY,

There were no developments yesterday
to indicate when the New York Stock
Exchange and other large exchanges
throughout the country will reopen.
Brokers here agreed that il would be
timed 80 as to make the resumption of
business as nearly normal as possible.
The uncertainty Of the war is of
course, the principal factor There is a
pronounced disposition in financial cir
cles to take all war news at a heavy
discount The belief is expressed, how
ever, that a pronounced English naval
victory would settle the question OF
commerce and open the seaports OF the
naoons comprising the Triple Alliance
TO the markets of the United States
This would be OF incalculable beneft to
cotton, wheat and other foodstufs
Correspondingly II would raise the high
cost Of living in the United States
New York evidently is going to wait
until all excitement can be avoided
The situation will be thoroughly can
vassed to ascertain when business can
Be resumed without an undue pre-
ponderance OF buying or selling orders.
The INST consideration will be that of
foreign liquidation. So long as there
would be danger OF an avalanche of
selling orders from abroad the exchange
WIN remain closed.
Members Of the exchange will be asked
for Information regarding the orders in
their hands and accurate conclusions
will be arrived at so far as that posi-
bly, could be done in advance 1t will
be ascertained how nearly buying and
selling orders balance each other and II
is a reasonable assumption that until
the former exceed the latter the order
for reopening will not be given.
While figures are withheld. it is re-
ported that there has been considerable
IVA "a dAo1 frG II cN1
have been in excess of the prices at the
last close Of the market
1t is a coincidence worthy Of note that
at a time when the war in Europe may
afford the United States an unprecedent-
ed opportunity to capture the trade of
South America. two circumstances are
likely to prove important in promoting
that development. It should be borne in
mind, however. that the optimism ex-
pressed over this country's capturing the |
worlds trade depends almost entirely |
upon the duration of the war Any rapid |
progress in the commerce of the United |
States would only come after a long |
struggle for which military authorities |
in the United States do not look
But the friendly spirit in which the !
proposal OF mediation in the Mexican |
difficulty by the three leading countries |
of South America WAS received by the |
United States has resulted in a much
improved country feeling toward this .
country on the part of Latin-American
countries. and the opening of the Panama
Canal will afford a direct highway Of
commerce between the east coast OF
the United States and the west coast OF
South America, removing a serious handI-
cap TO the growth of trade between the
manufacturing section Of the United
States and such rapidly developing coun-
tries as Chile and Peru
Railroads have agreed generally to as
sist homecoming Americans who were
stranded in Europe to reach their homes
in this country after landing at New
York or other ports.
President Smith, Of the New York Cen
trail. yesterday received a cablegram
from the American committee in London
asking that the railroads honor vouchers
issued TO tourists by that committee for
railroad transportation in this country,
settlement to be reached later. President
Smith Immediately communicated with