Omaha daily bee., 1914-07-28
KfCNARD u AND 8D<TEENTH 6TREETB


We hope that Austria Hungary in the
interests OF peace will recognize that
consideration is due TO an independent
state and 30 avert war. II, however.
Austria-Hungary wants war. It will have
seen that we are prepared to accept II
in the interests OF the dignity of our
state"
The fact that Austrian ambassadors
abroad we're willing TO discuss the con-
troversy with foreign governments and
especially with Russia led 20 the belief
that an outlet for the deadlock would be
found
The stock markets OF London and the
European capitals still displayed an
panicky feeling, although II wa not a.
pronounced as on Saturday
Grey Invites Conference.
Sir Edward Grey invited the govern
monts OF Austria Hungary. servia and
Russia 70 suspend operations pending
the result Of his proposed conference.
which would be held in London.
His suggestion Is that the French, Ger
man and Italian ambassa Tors in London
should confer with him In the endoavor
to find a means OF solving the present
difficulties. Until late this afternoon he
had not yet received complete replies TO
his proposal.
Sir Edward Grey, in announcing In tho
House OF Commons the steps to be taken
70 bring about mediation In the AustrC-
servian controversy, said
81 understand that the German govern
ment s favorable to mediation In prin-
cipie as between Russia and Austria, but
20 our particular proposal 10 apply that
principle by means Of conference, the
German government has not yet replied.
Sir Edward concluded by expressing the
opinion that the failure OF, these efforts
10 bring about q settlement would lead
to the greatest catastrophe which could
befall the concert OF Europe and ts con-
sequences would be incalculable."
AnHtria-Hungary waiting.
It was said this morning that Austria
Hungary would not move its forces
against the servian capital until tomor-
row. which Is confirmation OF a state
ment made by the Austrian ambassador
in London yesterdRy--thAt Austria-Hun-
gary desired TO give servia further time
to consider It's reply to the ultimStum
from Vienna.
Outside Of Austria Hungary and Ger
many, servia's reply Is regarded as a
very fair one. as Il grants all the de-
mands which q sovereign state could
grant.
In the meantime all the nations OF Eu-
rope are making preparations for war.
Even England, which IL credited with
the determination TO stand aside unlOss
Il should be forced into the conflict. is
4 KaaAN Tho laaUA
which Ia generally granted the crews
after the annual mobilization Of tho fleet
for exercises has been cancelled and the
vessels are 10 be kept on a war footing
They began coalinE yesterday with the
expectation that they would be ordered
| 20 the North sea. which would be Eng
lands danger point In the event OF a
European outbreak.
stock Exehsng DemOraIiEed.
The London Stock exchange which
opened half an hour earlier than usual,
was comparatively calm AZ the opening
the opinion prevailing that was would be
averted. The market. however. soon be-
came pRnicky and on tho arrival OF the
bulk OF the brokers prices began 20
slump in all directions the demoraliEa-
ton Of Saturday being repeated.
British eonsols, which opened nominAiiy
at 7SA. dropped TO - and then by quick
stages to ma or nearly below SATURDAY.
German. Austrian and Russian bonds
went down from TO points and prao-
tically tho whole list followed the ex-
ample. This was largely cue 10 COM
puisory liquidation on local and conti-
mental accounts before the settlement.
which commenced for general securities
today
Canadian Pacific prices were the great
est sufferers. the continent selling them
heavily. They were offered at i76it. Of
81 below parity. loss on the fortnight nj
something like $50. Several active Ameri-
can securities fell from q TO ti5. while
Rio tintos lost 10 points and Grand
Trunks from 20 points In the same
. period,
Lombard street is acting very cautiously
, three months private discounts beins