The Bridgeport evening farmer., 1914-07-31
NEW YORK FIRST TO RECOGNIZE
 PENDING DANGER
European Crisis Shuts Markets to Prevent CTists Hero
 and Abroad.
4s FTRsT COMPLETE
 SHUT DOWN IN YEARS
Breathing Spell will Give Stockholders Chance to
 Know All Is We'll.

Washington, JuIy s1--secre4ary AEcAdoo issued a statement saying that fEae treasury departxnent will help sas far es sit 1egitimate1y may'' in New York or elsewhere during the present situation.
 Secretary BEcAdoo said: sxVe are keeping i'm close touch with the situa- eson- The treasury departan ent will help as far as it Iegitiu1ately may in New York or in any other part of the country where it becomes apparent lGlaaf assistance fs needed. Inc AId- ArIch-V -VreeAand act amended by the sTedera1 reserve act 1s still i'm force and fthe terms upon which currency may be issued under that act are now SO k44v0rab1e that resort may be made lquiclkly and effectively to it to meet iany emergency.
 ssIt mnust be remembered tKaaE there ms In the treasury printed and ready kTor issue $500, ,0o0 900 of currency which the banks can get upon ap- sxl11ca1aon under the law. 17lia is in addlfion to the resources of the tfens- lurT.
 aoreien stock exchanges, the Hcrton of hls New York Stock ExchRnfses of rrhich have just learned, in closing nenporaEz1y IS a reasonable measure lof rtotecaon to American interests
 President Wilson also turned his Rf- tendon to the nnancfal situatiDn.
 
 eQsw york. July s1.--The New York Stock Exchange was closed today on account Of the European situation. The Consolidated Stock Exchange and nhe New AYork Curb Market also lceased business. This was followed hnmedia4aaY by announcement of the lcEosing of exchanges in the other krhlef cities throughou the country. lT-hfs official announcement was made "A rf fhA WfIoClE K rhangB.
 .srhe governing committee decided Hiaat the exchanlbe be closed until aur- Mher notice and that all deliveries be suspended until further notice"
 vvgfh the suspension of b1sineeE here, arannact1ons in securities the world lover came virtually to a haN. New York, for the last few dayH, had been hhe only great market of the world Ito carry on business as usual The decIston to close came unexpectedly m short time before the usual hour for openine. up to that time. although khe street was in a gtate of great ex- citsrnent the general impression was khat the exchange would open
 It xas af a meeting of bankers at ahe ofF1ces Of 2. P. Morgan 6s Com soany that the deciaon was reached The meeting was attended by MT Morgan ana IF. P. Dawson. llis part ner- B.rank A Vanderiip, president of fhe National City Bank; A B Hep kurn. chairman of the Chase National Bank and Erancis L.. Hine, president Df the First -.ationa1 Bank
 These men were in close connmuui-A EaEion with me governors Of the stock exchange and after a long discussion was decided that the strain upon credits might reach the dagger point ff the exchanges were opened.
 No definite period for the closing of Hhe exchange has been set. Stock ex- change houses have notified their of nces not to make deliveries or receive BtccA1 until further notice.
 Members of the board of governors tof the stock exchange said that the board would probably ask the banks not to ca1 any loans due today or at any time while the stock exchange ren1afned closed. The. hanke, it was believed. would agree to such an ar Eangement-
 The board of governors is in favor Of restricting all outside or private purchases or sales of securities by any of the members of the exchange on the ground that such transactions would be detrimental not only to the interests Of the exchange but to the Financial community as a whole.
 William c. Van Antwerp, a gover- Haor of the exchange. said that 1t waS Ifhe first time since 1873. that business Lat that time. a large stock exchange house failed and there were threats of dangerous European complications.
 The only other occasion in the his ifory of the stock exchange when sim ldIar action has been taken was in Hee9 on the famous Black Friday
 The movement of gold to Europe Fw1ich has reached unprecedented spro- tportions during the last few days, was fconffnued. Two engagements were made amounting to g, 100000. The ieteamship St. Louis, which sailed for t11urope today, carried the largest fRmount of gold ever taken from any fFfprt Of the world on a single vessel AThe total value of the carge was $11.- iN25,ODO-
 The total on this movement of gold F1n five days aggregates $45, 435, ,O00. The famount of the outflow of the metal lsince January 1 is SIPS. .sS5.00o.
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