The daily Gate City. [volume] (Keokuk, Iowa) 1855-1916, 1914-07-29
HOt-POiintS
TELLS THE TRUTH
stock exchange today. being quoted

stock exchange today. being quoted
at 69A.
The market was in state OF panic
and a meeting OF the governors OF
the stock exchange was called, pre-
sumably to discuss the advisaoiilty OF
deferring settlements due today. Five
failures were reported today. Cana
dian Pacific was officially marked at
162, 161, ITO and 16I.
Gold Exports.
NEW YORK, July 29.-With the M
creasing gravity OF the war conoition
In Europe the shipments OF gold 10
London an6 Paris banks are conunu-
ing at rate never before equalied.
More than S24, 900 will have been
sent to Europe in the past two days
by tonight. Ships yesterday carried
more than s11 100000 out OF New
York for London and Paris and today
s12,5O0. 900 more will be shipped. The
Carmania and the La Sayoie Will
carry the gold cargo.
The shipment OF American gold to
Europe since the first OF the year
now totals s105, 400, 600. OF this $751;
600 900 was sent in June-also new
record.
Insurance underwriters are greatly
concerned over whether these gold
shipments are contraband. The Ger
man liner Kron Prinzessin Cecilie
which sailed yesterday carried more
than 100000. In the event the
war is declared between Germany and
Russia, or Germany and France, 1t is
held by many experts that this cargo
would be contraband.
U. s. Safeguards.
by John Edwin Nevin, United Press
Staff Correspondent
WASHINGTON, July 29.-Face to
face with q European war that may
result in a new distribution Of the
worlds balance of power, the ad-
ministration today took steps to
safeguard the United States from
danger Of commercial and financial
disaster. Secretary Of Commerce
Redfeld has already taken up the
question OF the Interruption OF COM
merce. He is convinced the reports
SO far made to the president are
chiefly OF reassuring character. 1t
Is stated that the American securi-
ties market is So clear of paper at
present that 1t can absorb practical
ly all offerings from Europe without
becoming panic stricken. although
vi fr,ro fnnvifoh1v
crumble. According to Information
given the president, If the war is
reasonably short it will be very ben.
fetal. Exports OF a purely CONNER.
cial nature, food, clothing and sup.
plies are expected to increase very
materially with the resultant In.
crease in the output Of the factories
The population of the country will
also be materially reduced. Many
able-bodied men of every nationality
involved can be expected to return
to their native lands to resume their
places in the armies or nav1es.
There is no danger that the regu.
lar traffic between American and
foreign ports will suffer materially
although steamers are sure to be
withdrawn for use as transports and
fleet auxiliaries should other nations
than Austria and Servia become IN
volved.
The treasury is closely watching
movements Of gold and 1t has been
reported directly to President Wilson
by Secretary McAdoo that there is
nothing alarming in the movement,
now in progress and contemplated
Within the next few days the fedora
reserve board will be on the Job ant
the country will be further fortified
to prevent any serious fnancia
panic.