The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-07-29
LONDON MARKETS
SHOW WEAKNESS
Flood If Selling Orders From
continent Causes Many
severe Declines.
AMERICANS DROP SHARPLY
Tcrdcnc, on Paris Boursc Is
powuward-Priccs in Bcr-
lin Depressed.
AMERICANS DROP SHARPLY
,p,..oi ootic b,spo,ch 70 ruv sr>

IoNnoN. Inl! - NlthOugD the actual
declaration ~ war ny Austria was not
known ou tho stock Exchange until after
.ls c'ose IN" markets had been worse on
he prayiou~ news of the menaclng si,ua-
''c- on the Continent the trouble In
ireland and fenrs for trouble during the
fo--irhIy settlements
Tre-e was further food OF selling
orders 'orr the Continent, notably Paris
Trr most noteworthy result ~ this selling
vas the collapse Of Rio Tintos from 62i5
70 b. Ionsols although camer than
ye.er,lsy. remaiu"d abnormal and closed
a. 'ne lowest quotations with further
:sp OF Y,
IL the American departments there
p'e-a so,ere declines the afternoon weak
less being increased by reports OF diff-
l.ucs iu getting cable transfers for
securities shipped. A fall OF points in
l-.ou Pacific was the feature There
we're numerous other losses.
Canadian securities were again very
wild Canadian pacitcs closed ! l.. down
o. the loves. prices of the day. Grand
Trunks. following Mexican and Brazilian
railroads succumbed to further weakness.
but A-gru;incs advanced on cessation of
&c sol''ng.
For, gu bonds fell seriously. German 3s.
Y.rss',u consois and Hungarian gold
loan among others, lost points each.
Austrian treasury notes fell Sls.
Ito anNie'y as to settlement day con-
tnuci keen. but only two troubles actually
natc-alized to-day. Mr.. jackman. a
,mall yohber In oil shares, was proclaimed
detaultsr and the discount firm of White
Me,aNa n CO.. which has been doing Il
small utslucss suspended. Neither affair
Wis important. There Is talk chat II there
soI'd % any serious settlement difficulties
tie praVost trouble Is expected at Berlin
end Parts. causing fear of AN acute tnan-
cti crisis.
Paris took $1,000 600 OF the So. 600. 900
gold offered to-day and Is expected to take
n, remainder. Money was dearer and the
Bank Of England did business In loans
and discounts
PARIS. July 2S.-The most important
quest on on the Hourse at present Is ,hat
-egariing the new rentes which were
s,u-d ON July at 81. They We're quot ID
az the time of the issue at premium OF
about I and are now AZ SO. speculative
buyers at the beginning of the month
h1vn- lost five or six points. These buy
RS ar the most numerous and their COM
inltruonts are heaviest. a., counting on the
,gcC.-. of the issue. many buyers took IN
large N1.ks from heavy subscribers who
w,t, satisfied with a very modest profit.
lr-.IHc'u, subscriptions represent one
eighth of the total and majority of the
remainder SIN in the hands of specu-
tor> who were confident that II would
b.. absorbed soon. Political events caused
ne drop
How settlement day Is TO be met Is n
problem rs transactions In Thu stock
must be settled by the end of July. The
Rougse II Commerce has decided 10 suspend
iss''ugs IN shorts and futures I'm grains,
-four, oils. sugar and alcohol until further
iotlce. y, regards rates for these prod
Its q was decided that the rates should
t"ma'n uomiuallY established until the
md Of the month on the basis fixed by
the various syndicates. Outstanding ac-
cunts are 90 be l'qudated on the follow
ing scale Wheat, ESQ; -four 1910 ,
herley, 1925 oats (blaclD. ESQ oats
tvarlous) 1873 linseed oil, 60 COLA oil,
g.. d.luuolS, 500 white sugars, 3d.
o. h'tv-"ig7t stocks dealt In to-day not
single one escaped a drop. shares OF
the Bduqut Gle Paris ct des Pays Bas
dropped -. Compton Rationale d Escompte
% Credit Lyonnais 35, Ottoman Bank 20.
In tn American section Atchison dropped
y and 81. Louis and San Francisco 81
BERLIN, July 2s.--The market opened
weak here and continued 10 grow weaker
throughout the trading. Many firms, un-
able 20 obtain the necessary accommoda-
iioa 10 C4rry their holdings, were forced
10 ualos 4. The Bankers Association de-
cded tr day To hold daily meetings until
he crisis Is over. 1t decided by reso-
lltloa 70 support home securities by heavy
purchases II such course should be
come necessary.
&c an fall mn
! again. the per cents opening at 10 y,
Or 40 lower than Mondays closing.
austrian speciaIt.es were particularly
",aA. Russian I per cents caused sur
prse rs gaining ). of a point. In gen.
rfa tie 70 ssuring attitude OF German
bankers checked the panicky feeling OF
investors and restrained them from sac
n'HS their holdings, thus keeping the
changes small
The ueryousness of tho Berlin boerse
vas .9"rtaf'd hy the selling from Vienna
Where the boerse has been closed. In
SPY" - this the market was frmer al
, ne close
BaH.lN. July % Wednesday,. 3 A. VI
The correspondent of THE Sun learns
mat unless the situation improves
'e' oa"h'y the Berlin Boerse will sus'
pend operations for th- present
'H" s'm'-otlir'd ess 'ansieOer strongly
co mmcuis ~riT ms II eich lie taken in
'l'r 20 prey eut a greater panic and the
N"tinninR ~ the Bncrse with the selling
order.
i.t governors of the Boerse win con-
''l'r Oh" matter carly this morning.
lih1RrlG July 2S.--The evening ses
'.N 'f Mo Boersc here was closed alb
'N'' "a : o'clock tonight ~ the in
,.n' ~ the Chamber of Commerce
action was taken upon the receipt
n""' or panic on tho Frankfort
E.aa>c
Tho oreung ~ the Hamburg Roerse to-
morrow viii depend on a conference will
'' governors 81 the Berlin Boerse.