The Bridgeport evening farmer., 1914-07-30
MONEY MARKET IS BADLY BROKEN BY
 EUROPEAN CRISIS
Rarron Financial News.)

New York, July 3O-Not in the mem- ory of the present generation have money conditions been in such a de- noralized state, far as thGy bear. upon the International markets. The war scare brought about the complete disappearance of foreign exchange rates on "Wednesday while, in AmSter- dam, money was quoted at 16 per cent. and then all rates were suspended. The supply of exchange in this market has fallen to a minimum. Further en- gagements of gold have been made for shipment Friday In the case of the National City Bank, which will send ,$2, ,500, 900 on the St. Louis the gold rather than from the sub-treasury.
 Foreign bank rates will be advanced this week if cabled predictions make good. It was believed that the Bank Of England would raise it's minimum discount rate from 3 per cent. to eith- CT per cent, or per cent. while the Bank of France was also expected to make a corresponding advances
 Control of the international & Great Northern Railway will pass from the Jay Gould estate to a banking syndi- cate formed for the protection of that company's notes which have just been extended for 1-2 years at per cent. should an option granted the syndicate be exercised Should this step de- velop it will reduce still further the Could holdings in corporation con troll Already the Western Union Tel egraph Company has passed, while various railroad properties long in their offices will pass if certain plans now being formulated are carried through to completion.
 The New York Stock Exchange will go down in history as being the only institution of like prominence in the world to remain open uninterruptedly during the European crisis As r-e< <r11f hn of world wide security liquidation and prices have crumbled accordingly. London, which sold stocks heavily on Tuesday, came back with buying orr ders in Canadian Pacific and United States Steel as soon as there were signs of 1ocaHzation Of the European struggle. Support which has been giy- en the market by the big New York banking interests this week has been a matter of much comment here and abroad.
 Copper metal may now be bought at 1s cents a pound. delivered at Con necticut Valley points during August and September. Notwithstanding the further slump in the price of this metal, none of the Naugatuck Valley alton to lay in stocks of the metal at the lowest price which has prevail ed for some time. Stocks accumulat- ing in the hands of producers con- tinue to grow and there will be a big increase reported by the Copper Pro- ducerss Association at their next meet ing.
 Brooklyn Rapid Transit company annual report for year ended June 30 shows surplus of s. S15705 equal to 7.1S per cent. on the outstanding stock. Tn the previous fiscal period earnings were equal to 9.16 per cent. but the capital then outstanding was but s49.- 078. 600 as compared with STA. 455. 217 at the present time.
 The advance of $S5, ,O00, 900 to the value. of wheat in less than week has been nothing short of marvellous One days transactions were placed at 100 GOO. 900 bushels, which established a record. Corn's value likewise appreciated over night while cotton and cefeee have lost heavily. Sight seems to have been lost of the fact in connection with the wheat scare that this country has no merchant marine and if it had it would be necessary to run a blockade to get it through to European ports in event of war.