davidaulloa/AmericanStories huggingface dataset:
The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-08-01
COTTON EXCHANGE CLOSES:
S. II. P. PELL & COMPANY FAIL
Generalization Occurs When Prices Drop zoo
Points Markets Corditon Causes Decision
to End Trading Until Tuesday,

TOT the FIRST time in its history the
Ncw York Cotton Exchange was com
p'ned yesterday TO suspend trading. The
market had become utterly demoralizsd
inc decision of the board OF managers
closing the exchange was announced at
wv A. NJ, after little more than
an hour OF indescribablc confusion, with
the excitement on the floor exceeding even
the widest scenes of the Sully colapse
of March, 1904
Inc most violent fluctuations OF the
short session followed the announcement
OF the failure OF 5. II. l.. Pell & Co, Il firm
which was for several years past promi-
nent In the cotton trade and which was
credited recently with being heavily long
OF the market. Panic seized upon the
pit the moment the suspension WAS an
nonnccd and an almost perpendicular
break of 200 points ensued.
This was tho most sensational collapse
ever known in the cotton market. There
was "A difference of from 20 to 30 points
In the execution of orders at the same
instant on the tape. Il tremendous amount
OF long cotton was spilled out and the
iluctuat' ons were bcwlldcr1ng
The violent movements OF yesterday
however. were nothing compared with
what they might have been had not
the market been subjected to stern
scaling down Of commitments for weeks
and months past. AS II was. only those
who have seen or participated In the
frenzy OF the pit brokers' operations
can realize the excitement on the
floor Of the exchange following tho fall
ure OF the Pell Arm, which had the sup
port as special partner OF Col Robert
NJ Thompson. widely known as a nnanc'er
and sportsman. Almost every firm on
the exchange held some OF the Pell con-
tracts and the suspension meant severe
and In some cases ruinous losses.
The frantic scramble to sell was not
checked until prices had reached the level
of 81, cents, or more than $50 points
below the high level reached during the
bullish excitement early in June.
As told In THE SuS yesterday morning
there was a strong sentiment amons the
members of the Cotton Exchange on
Thursday afternoon in favor OF closing the
market until European political conditions
and the general SHANGHAI situation had
become more settled. The leaders Of
the exchange, however. were OF the opin-
ION that the market should remain open
owing to the fact that contracts instead
OF securities were dealt In on the ex-
change. II was argued that the New
York stock ENchange could close with a
perfectly logical excuse. but tlhat holders
of New York Cotton Exchange cont racts
should have an opportunity TO liquldate
their commitments and that the exchange
was the only market where this could be
done.
The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-08-01
TISHA BEAB BEGINS NIGHT,
Fast VIII Not start untiI End al
Jewish sabbath.

az T,sha Beab. or Ninth OF Alb, falls to-
day, hut the day being tho Sabbath,
the fast will not he observed unt!l night
fail. II viii last until niFhtfell to-
morrow
All OrthodoS Jews abstain from food
ana water for The whole twenty-rour
hours. and the services in the synsgogues
are OF very sad character.
The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-08-01
HARTFORD FLOUR PRICE SCARS
Advances ~ n BnrrcI-Nnny Ans
trians Leave Eos Wa.

HARTFORD. Conn, July NJ. TWO quick
effects of the European war rumpus We're
not ed here to-day the departure of Aus.
trian Poles for the war and the boost in
the price of -four. Fourteen Hartford
Austrians loft here for Boston, whence they
will join the Austrian army,
Flour AT uholcsal" went IN n dollar n
barrel to-day, and though the retailers
have not agreed on any price II was said
that o. a barrel would be about the price
next week.
The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-08-01
SUES FRENCH LINE FOR $4,000

For injuries alleged to have been
received through being tossed about I'm a
passageway OF the French liner Rocham-
beau In a heavy sea. Mrs. Teresa lump of
Maryland filed suit for $4,000 in the
United States District Court yesterday
against tho steamship company.
The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-08-01

The situation OF the American sc.
curity market during the past two
days has been splendid illustration
OF the Inherent soundness of imam
cisl conditions in this country. While
VIC all earnestly hoped that the New
York Stock Exchange might be kept
open. the situation Is fraught with
so much uncertainty that IL seemed
necessary in the interests OF the
whole country to close the exchange.
Il Is essentially time for the
owners OF American securities TO keep
their heads. Rear in mind that the
actual properties represented by
American securities will not suffer
greatly by European war. Dur
ny the past few days the American
people have been buying back
American securities at low prices
Presumably they will pay for those
securities with their wheat and other
products at high prices.
II is lille to SAY tina, America will
not be hurt by general European
war The Wholesale waste Of capital
involved I'm such catastrophe would
result IN distribution Of Losses
the world over but the loss here
would be infinitesimal compared with
the losses to the countries immc-
diately involved There Is no doubt
that the whole American people Will
couperate to restore normal condi-
tions throughout this country at the
earliest possible moment.
The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-08-01
Managers Uurricdiy Meet.

When IL was seen that the most violent
OF panic conditions were fast taking
possession OF the market the board of
managers held - hurried meeting aud
decided TO suspend trading until Tuesday
at 10 o'clock TIL same decision was
reached ny the directors of the Now
Orleans Cotton Exchange a few minutes
later.
Liverpool stayed open. and although the
market there suffered break OF more
than 80 English polnts--equsl TO 100
American points, rather sharp rally
occurred after the closing OF the
American exchanges. The January
February option in Liverpool sold at
$50. but closed steady at 612is
The Government report on the condition
OF the crop was announced at IL o'clock.
but created hardly a stir. although II in
during the last month and under ordinary
OF AZ least so points. or half cent per
pound. II made the cond.ton 76.i. agalns.
1915 for the end OF June
The suspensions o. Fredcrlrksor & Co
and Homer. Howe a 90. Of Philadelphia
also were announced Fredcrickson g. Co.
did a floor brokerage business and the
failure Is not considered important. The
Homer. Howe 4 10. failure was hardly
an incident in Cotton Exchange circles
There does not seem TO he much fear
or further failures. as margin calls gem
orally were meeting with good response
and no Arm showed a disposition to crowd
another Every Cotton Exchange house
in fact. is believed to be solvent and there
Is no inclination 10 take advantage of
panic conditions.
The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-08-01

TIE question has ben raised whether
or not the Government II II deemed 1t
wise, might refuse to pay gold anywhere
cNcrpt At tho Treasury in Washington.
This would amount to a raising of the
discount rate because there would be the
'haree Oi transportation from Washing
ION There Is no thought, though. OF the
'o'"rnmen doing a. ything ut this time
,"'pt IN the way OF cooperating to the
!uU''t extent with measures adopted by
No. bankers of the country.
II was made plain to-day that the
President and tho Secretary OF the Treas
ury realizing that the New York Stock
exchange was the principal medium
through which Europe Is drawing upon
ne United Slhtcs for gold. heartily APP
proved ~ the action OF the board OF
governors IN closing the Exchange. II
vas denied, however. that the Admins
F.tou had had any voice In tho coun-
"s which led 10 this action.
The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-08-01
KEEP YOUR HEADS"
Is MORGAN'S ADVICE
Declares American Securities
VIII Not Suffer Greatly
by European War.
CONDITIONS HERE SOUND
Still Hopes Sober Judgment of
People Will Prevent Cen
cral Conflict.

J. y Morgan. who. in calling confer.
ences Of bankers and taking the financial
helm Of New York in the present crisis
has stepped into the position occupied b,
his father In 1907. issued a statement
from his offices yesterday in which h,
advised American security holders 10 "kccr
their heads lie pointed ont that IN.
inherent strength OF the financial con
dition OF the country had been demon
s,rated ny the security market In IN,
last few days. Mr.. Morgan said:
Alarming as the news is from
Europe ] am still hoping that there
Will not be a general war. While the
gravity Of the present situation can
hardly be exaggerated there Is still
the opportunity for the sober Sec
ond thought Of the people of Europe
to prevail over their first impulses
II the delicate situation can he held
in allegiance for a few DAYS | should
expect rising tide of protest from
the people who are 10 pay FOR war
with their blood and their property.
The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-08-01
WsrburR TO Appear.

fore the committee only after the presi-
dent tins morning had made a personal
appeal Ia him for his services in the
present emergency. Chairman owen of
me Banking and Currency Committee
gave ont IN" following telegram which
he had received from Mr., Warburg
III Difference 10 the Presidents ur-
gent request. and In view Of the
ser.cusncss of III. present emergency.
which renders desirable the prompt
est possible organization of the Fed
sai Reserve Board. | have decided
10 wave all personal considerations
and am prepared to appear before
you. committee at the earliest con-
,.lont date.
In the meantime the President 10 rush.
Ing tine selection OF a man to take the
p.acr OF Thomas -. Jones, and IL is eX-
po't.d that his name will be sent to the
senate tomorrow or the next day. Ed
v.u A Potter. IA banker and business
man Of chicago. is the strongest prob.
abi't, FOR the place.
senator Brstow and his followers were
= h0s'.l. Tonight. Just how long the
senator from Kansas can hold out and
nov much support he will have is not
dnoNu but IL is admitted that he can
Hay ta" confirmation II he is willing TO
ssume the tremendous responsibility OF
holding up the inauguration OF the new
tyt'en.
Members ~ the Federal Reserve Board
arc Of the opinion that as soon as the
NO vacancies on the hoard have been
olel there will be little delay in puttins
me new system into operation. IL Is
SAD that the new order OF things could
p-onah'y ne made effective within two
week after the board had been completed.
The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-08-01

Yesterday when the market opened
there was an early break 81 nearly half a
cent This resulted from over night SELL
ing orders with some panicky trading by
local professionals who had been thrown
into a frenzy by the announcement OF
Kaiser Wilhetn's martial law proclama-
ton. This was hurredly taken as a
declaration of war. Good support by trade
interests ana short covering rallied the
market about so points to the basis Of
1i.50 for December. At this point there
was some selling by early buyers. Then
came the announcements OF the Pcl fail
ure. which was followed by a collapse to
$50 for December.
To give an idea OF the wildness ~ fiuc-
tuations II might be stated that ono broker
had stop loss order on l.OOO bales Of
January cotton to execute at 1915. lilo
executed tho order at 10 ,'nnts Margins
which might have been d. .lsidered safe
In the most crratic bull ri,r;c; were wiped
out In the twlnlding o. asa eye.
Floor brokers who have been having
lean days for several months past
actually turned down orders for thousands
" bales yesterday simply because they
did not care to he held responsible for
trades when they did not know whether
the firm which gave them the order nor
the firm with WHOM they might make the
transaction was solvent
The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-08-01
WARBURG SAYS
He WILL ACCEPT
Valves Personal COnsidcra-
tions on Wilson'S
Urgent Plea.
WILL MEET COMMITTEE
AGREES to Help Hasten For
nation of Reserve
Board.
PLAN TO PROTECT COUNTRY
President Is Expected to Name
Chicago Man in Place
Of Jones.
PLAN TO PROTECT COUNTRY

WnsutNGroS. July 3i.-The heavy flow
~ gold from tho United states to En-
fors s m" feature OF the present sltua-
ton M this country to which Government
officials src now directing serious at,cn-
ton several conferences wee held on
This subject to-day. but no decision was
~ hsd IN regard 20 any action by this
Go,.rnncut
T1o conclusion that has been reached
IN Washington is tdst the greatest source
n relief from thls drain will be the es-
Enlistment Of tho new banking and cur
isncv system The President and his ad.
-iers hav" accordingly decided to rush
-ttn all possible speed the organization
md Inauguration ~ the new system.
one VI the first and most important
developments In this direction was the
announcement thet Paul NJ warburg of
New York had consented to appear be-
fore the Senate Committee OH Banking
and Currency tomorrow afternoon. This
probably means that Mr.. Warburg will
be confirmed. because neither tho Senate
nor the country is In a temper to tolerate
,hf playing OF politics by Senator Brlstow
or others who have been opposing the
Nsv York banker.
The day book. [volume] (Chicago, Ill.) 1911-1917, 1914-07-29

thought-trust. That is why we femin-
lists insist upon an antitrust bill,
against the monopolists of intellect,
the Morgans and Rockefellers of the
mind.
. That is why we believe that hus-
band, to be worth anything, must
stimulate his wife's brain. He must
not do her thinking. He must insist
that she think for herself.
If a man is more brilliant than his
wife, then he must set the intellectual
pace for her He must insist that she
follow. He must realize that his wife's
brain is merely lazy and that it nat
uraIy must be, since her business in
life is to induce him to work for her,
and that she does not need her intel
lect to do that.
A husband is worth while inteIIec-
tuaIIy in the exact proportion that his
wife does her own thinking. It is
as stupid for man to tell his wife
that she should discharge the cook or
cease from calling on her next-door
neighbor as it is for woman to adj
wise her husband that, in his place,
she would tell the boss exactly what
she thinks of him." But comparative
ly few women do that. If there is
anything on earth that the average
woman holds in abject awe it is her
husbands JOB! She reVerences it;
she fairly worships it, it has for her
mystery and fatality.
Man, on the contrary, by that arbi-
trary and supreme endowment Of wis
dom which he believes he has inherit
ed, feels himself competent to advise
woman upon everything. 1t has al
ways been wonder to me that he
hasn't undertaken to nurse the baby
just to show her how! Short of that,
he does trust himself into his house
hold as the supreme court of wisdom
even in such essentially womanly
matters as change of butcher or an
The day book. [volume] (Chicago, Ill.) 1911-1917, 1914-07-29
WHAT IS A HUSBAND WORTH GRAIN is A
NECESSITY FOR MAN, luxury FOR WOMAN
BY NIxOLA GREELEY-SMITH.

! BY NlXOLA GREELEY-SMlTH.
Some women consider that the
main duty of a husband is to save
his wife from thinking. Some men
encourage this idea. 1t is this type
which has led people to believe that
marriage for woman means arrested
development of the brain. We have
been offered, as the explanation of the
fact that school girls are more intel
igent and quicker than boys of the
same age, the statement that wo-
mans mind natures earlier than
mans, but that it ceases to grow aft
er marriage and maternity other
words, that men after thirty expand
Intellectually, but that woman stand
still.
Hence a lot of nonsense about the
tragedy of the man who has out
grown his wife. The main difference
between the intellectual development
of men and women is due to the fact
that brain is necessity to man, but
is still a luxury to Woman!!
Man gets his living by his brain
or Drawn. But the majority of wo-
men are still females by profession
intellects only by courtesy or luxury.
A man requires brain in order to
live. A woman doesn't! The most
stupid superstition of the human race
is that there is a fundamental in
equality between the brain power OF
men and women. No one who knows
the laws of heredity can possibly ac-
cept this view!
a
Suppose that, in the beginning, our
father Adam was brilliant intellect,
our mother Eve a fool. Then Adams
daughters would have inherited his
brain power, while Ewes fooIishness
must have been transmitted to her
sons.
For the daughter is the intellectual
heir of the father, the son the legatee
of his mothers brain.
The chronicle=news., 1914-02-09

lzsssz Asss ~ ssz=. e.: Sss s.-sfa.
sss as rF.s .ss slg sas isHs usfaFs
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The chronicle=news., 1914-02-09


sais - 80 Errr4flE5 - "sessl- A4
Ezf ssa-t r-r--f fs =-~s o. Aifa-
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,=.fI-a a. q. a.-l-= 1Fs f-s.fl.s1 The
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The chronicle=news., 1914-02-09

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eve Hs a. 49, Ei-s s.-iss a.ssf ss
$rs sz4r-a4
ga ss.s - sss &c ed - tss L<Gs.
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srrs g. f-= -Gsass-r szs sassssef
- e1z-a So tEs .ta-ff-zs.s- .'l=.i.y
a. fasE. $3.50 fr-t So ssssasLs sssis
e - s~.s Etz-s - E-i-s - <Fzss
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asHsss 81 srr Haafis . .ifrs' - 80
The chronicle=news., 1914-02-09

fu SALT pr 20 70 ftt1 sAs aas = pee
feet stranger 60 Hrr ard Fai. -Ge5i
marrgn Ills Artut Naisnias's Day
10 then became TIE dIfr % the nan
80 challenged Go saus he gnHf.
.1ssan = present. Th-s Was csrr -
10 sugh .xtrs-ug- tha- Is ifsea',le =
.e-uiar hsif-uP same o. was P-ar-
Used srl ID, the is~ - Fiasse< iHr r.
fiue and haprii1 the custom dish rut
-iiuz na.r q Century 81 NOR ago
10 ksnt. England. the girl. turn
holly on saint Valentines Day and
thcir .westhcafts throw ity IN tho IRE
q sizn that thcy. too. are ready ="
ssrrtfca for love. In some pstt- Of
Holland the girls and boz so about
ths streets decorated with ;ras low
e-s' knots. and those who u..r The
.. the caIors are supposed to be lovers.
- early ~ tn. .iehiecni centurs -.
f4nA- valentine came into use VI
that time " wa, written on paper
adorned with a Gilt cupid shich h1f
teen carefully pasted On. The T'p-
etry Wa. what f. termed today OF the
rtu.hy variety. The fds crit. formula
announced In terms still held sacred
To- rain; Valentine that because She
~. Is rcd and the vlols, blue there
Fore she recipient "a rs sweet as sugar
These love laden ra5ssi.e- were sent
~ mssseaOos. Thss came . redue.
The chronicle=news., 1914-02-09

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zsrs ra 80 49, ra $500 ssf e. -
&C. as .H go -
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fIs 90 aaE-sfas-f sfsaH-TF ~
sasEr- sFH Hsfs DO r.aTa flsF 30 a-Fs
g. zr-1 fHss So saat =
$3.50 = So Lss-s sEsfsa -
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efrs-rlss .H usFsess 'AH7H ~
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lfr - gaasa Haa9E'fs 49, - - -
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- - Ha-fs at -s=lsiss -,fFs a
r-r- Ha-tfsr- eHfHaaE t-sssg -.
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sF=e-- ls-rH ~ nrf 81 .HfH Hs1s
The chronicle=news., 1914-02-09

r.au iH -al- ard ..rr"t.d tIisntinss
lszsH 20 1rrss.H A.fl'Is 'snhiue az
falaa shaaIf. rEDss-ssris aiiirsd men
Esd EuHsn sltur- s,ss - slide ehii.
tapi| AarFrsJ otcs t-rr hrsis. The
,;as 2 f.ul1 49, us~af.f ssry fzi.
rfril. Il-su1pH.i g. HIh. VIVA carried
HuEa tau als "a CULVER x EeiItr
arrpEs lie U.s. i-s,s shown IN IN.
srt % shooting a. srrou AZ the couple
fellow him. Tlfe lace payer valentine
; IN .aih1.sra FIXTURES - love scenes
hlddsn AMID ~ erz % lace paper va.
shs next fashion. and soru. % these
u.rs fean, .ery pretty. rhsss were
f"ltas=d ~ thu hand painted saii-
e-rd. watch So. x rourse. more ~
psrsis. than the lace psper. The
scr-es. H-y-tes. vere the same for
since the dae~ ~ she I.upctca.s tn.
old. Old story Of "tEo live. with bat
= single thought. two hearts that beat
q. one ios not changed except tina:
each seer the lover Seems to isvish
nor. g.f;s upon mis- sweetheart. About;
the middle Of She nineteerth century
the manufacture -f valentine. became
business and today several thou
sand people are employed IN the In.
1ustr-. rne work particularly ar.
neais "a Iugelid- and cripples and re-
qulre, no goat strength. A ;eU sears
ago tile valentine post card made il