davidaulloa/AmericanStories huggingface dataset:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-07-26
TRADING IN FRENCH RENTES
HALTED BY OFFICIAL DECREE

Scrvia's answer was not satisfactory
and a later message from Belgrade 20
the effect that the mobilization Of
troops had begun and that King Peter
had left for Kraguysyatz. an arsenal
town, increased the prevailing pes
simism.
French Indignant at Austria.
The indignation over the action Of
Austria. which is rapidly spreading
over the country, leaves no doubt as to
the approval of the French populace OF
the governments action in joining
with Russia to ask that Austria extend
its time limit TO Servia.
As yet the French Cabinet, in the
absence Of President Poincare and Pre-
mier Vivian. who are making a round
of official visits in Northern Europe,
has not met TO consider the situation,
but a late dispatch announces that VI.
Viviani is leaving the Presidential
party at Stockholm to return to Paris
bv wav of Stettin and Berlin. This
will bring him into Paris on Monday
morning. In the mean time the For
eign Office is in close Geographic touch
with the Premier. II is among the
possibilities that " Niviani will con-
fer with the French Ambassador in
Berlin.
The news from Vienna that VI. Pa
chich, the Servian Premier. who is rec
ognzcd as one Of the mos. subtle di-
plomatists in Europe. had sent reply
to Austria's note that was Insatlsfac-
tory causes no surprise mere. The. con-
tents Of the note are unknown except
perhaps in high official circles, but II
has been felt that the character of
Austria's demands gave him no choice
of making anything but a categorical
refusal to surrender Seryian rights of
sovereignty to the Dual Monarchy.
Nor is it thought here that the brutal
demand of the hustrians would have
been made by the Balplatz ministry at
this time were it not that NM. Poin-
care and Viviani are now abroad.
Russia Forced TO Act.
Again. no French statesman believes
for a moment that Russia. despite the
greatest personal efforts Of the En-
pcror TO avoid war. will be able to
stand by with folded hands and see
its brother Slavs in Servia crushed
by Austria Hungary. The conviction is
general that the moment Austria as
sumes the offensive the possibility of
Russia avoiding taking part in the
conflict will be ended by an overwhclm-
ing wave OF Slav racial and national
feeling which will compel Russia to
attack Austria.
Thus Russia holds the key to the sit
uation. If she stands by Servia. az it
now seems certain, Austria will have
no choice but war or backdown.
Meanwhile the situation in Italy is
no, exactly reassuring to Austria. From
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-07-26

trustworthy sources in Italy come re-
ports that should King Victor Emman-
uel decide TO cooperate with Austria
in the event OF Russian Intervention.
as required by the terms OF the Triple
Alliance. he will find trouble at home
that may threaten his throne by the
declaration of a republic, backed by
revolution. though this theory is not
taken too seriously. Thus far the ltal-
ian government has avoided showing rs
hand. and it is declared in Rome that
Austria has acted solely on her own
initiative and without consulting eth n
of her allies.
This is not the belief Of French
statesman, a former Minister of For
eign Affairs. who told your correspond
ent this evening that the moment was
100 well chosen to make any close stu
dent Of European politics who is ia
mliar with the workings of the chan
celleries believe that Bslplatz dipiom-
acy was responsible.
Kaiser Wilhelm Blamed.
"You cannot make me believe it was
Balplatz," he said. THE finger OF Ger
many is TOO apparent in this startling
move despite all contradictions and de-
HlGlS. ne IIO|t - lHdl VI lut hdlNtIs
Just look around and see the condi-
lions of which this move takes advan-
tage. France is involved in domestic
strife, with its chief of state and its
Premier is abroad. England is in me
throes OF conflict over the Home Rule
bill. and Russia is in the midst of seri-
Gus proletarian riots, while Servia is in
the hands of regency because of the
illness of the king and the youth of the
heir to the throne.
Furthermore. Austria and Germany
arc thoroughly ready to put every avail
able nan on the fighting line, and even
the Italian army is partly modified.
Look on the two pictures. and then say
if il is not too deep too well defined
plot to be prepared by Balplatz.
Rather, it was prepared for him. for
one see the handicraft Of Germany
there just as clearly as though it we're
stamped Made in Germany
"One BIG question now remains: What
will Rumania do"
Stephen Pichon, a former Foreign
Minister, also takes gloomy view of
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-07-26
by cable to The Tribune. ]

London. July % Austria and Servia
are now virtually at war. and from the
scattering news which filters into Lon
don the only question remaining seems
a. be whether and how soon Russia
and Germany will be drawn into the
conflict.
There IS little likelihood of England
being drawn in for the present, at any
rate. for the triple entente is only a
verbal understanding and Premier AS
oui,b's words a year ago in the House
az Commons that England had not the
slightest intention Of being drawn into
war merely because of friendly
understanding were perfectly plain and
direct.
Servia has lost no time in mobiliz-
ing her troops for action. The Drins
and Danube divisions are already mo-
bilized. and concentrated on Naljevo'
while all the forts on the Bosnia
frontier are being armed. Servia'
however. suffers from the fact that
practically all her forces now under
arms are concentrated on the Bull
earian and Albanian frontiers.
Meantime, in St. Petersburg an all
dayy session of the great council was
held under the presidency of the Car
Il was practically a council of war, for
all the information from ST. Peters
burg. Belgrade and Vicuna on Russian
intentions is 10 the eect that Russia
will support Servia TO the last ex-
tremety. The most trustworthy re-
ports assert that Russia is now IN
the act of bobilizatiOn.
While the chancellors are working
desperately for peace. troops await
word Of the first blow by Austria, for
II is everywhere recognized that the
murder of the Archduke is only the
pretext for which Austria has so long
been waiting TO strike death blow
=, Pan-Slavism, and now the opportu-
nifty has come there is only the small
est possibility Of preventing 1t.
German military preparations are
unouestionably far advanced. DR.. Won
Bethman-H ollweC. the Imperial Chan
cellor. has resumed the helm at the
Wilhelmstrasse The Kaiser is not a
cyncical absentee, as il is understood
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-07-26
LONDON MARKET
PRICES COLLAPSE
Consols Make Spectaculaj
DrOp-Selling Pressure
Remains Constant.
Ia cahIe % 10 rrLblne-l


London. July 25.-All other influences
on the London Stock Exchange to-di
paled before the grave European cris>
and the markets, particularly those
which Continental bourses are intere"
ed. suffered a heavy slump. Alrese
much worried by the serious state
home political affairs. the Stock hf
change was poorly situated to bear 'nl
latest shock, and dealers, faced WIZ
heavy sales and fearing more, let COW
prices with free hand
The state of Intercourse specul'""
favorites bordered upon demoralIIa"0'
while in every corner Of the nous
we're signs Of acute anxiety. rf'."
were everywhere quoted nonins""
dealers showing a marked unwill"'
ness to involve themselves with res
commitments, A.,r.
Seldom have consols dropped so nI.
lily or 50 rapidly. They opened M..S,t
loss Of g-l6. compared with last hsa
closing level OF q 1915, and then ~,
larsed dramatically 70 '5's' q"
usually wide range OF quota,,,,o'iss,. .vily
Home railway stocks ieH ne n.
under the lead OF South Easle'. ~,
fcrred. which dropped nearly W." 'r,.i
points. The fall which had oecs;.sI,
in Americans in New York o'eInsr
carried quotations rapidly INTO Ia Ia
losses. Union Pacific. Steel ana Al
gamated Copper being the notApE esr.
features. Canadian Pacific, Whl'"
lin had been selling freely for se'S..,
days. showed loss OF ABOUT lss
compared with the closing pr'.s Il,r
night. and Grand Trunks nave .lss
with them. Foreign rails were MN.
weak throughout the session. or
cans sustaining losses OF POM,
more, while Paris unloaded Liar
The Boursc also threw brM
fractions on the market. caus"ss
Tall in these Of 5is points. me vm,.
notably weak features were the pS,,s
trial markets. Mexican Trans, "a.
Lights and Mining shares all oe'"s
trcmcly weak. %
Rio Tintc slumpcd points, sps lsr
Beers dropped 9.l6. Russian mai"tAe
shares were Rcutely depressed, S"s MD
leading oil shares fell heavily
the rush Of Continental shares .oms
There was a slight recovery ~ se,i.
cases, but these amounted 10 az
cally nothing compared with 'h'
tent Of the general collapse
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-07-26

seemed to be on the streets. They
fought eagerly for the papers. and
professions were formed which
marched through all the thorough
fares singing national hymns and
cheering for Emperor Francis Jo-
seph, Emperor William and the army.
Count Won Berchtold. the Austro-
Hungarian Minister OF Foreign AT
fairs. visited Ischl early in the alter
noon and had long audience with
the Emperor. Later he conferred
with the Minister of War. General
Krobatin. and the Emperor's chief
military adviser. General Baron Boil
fras Won Ahnenburg, and the Minis
ter OF Finance.
Count Won Berchtold had another
audience at 7 o'clock with the En-
peror. 70 whom he communicated the
Servian note.
Russian Attitude Foreseen.
No surprise was caused here by
the communication published in the
Official Journal of the Russian gov
eminent stating that the ST. Peters
burg government was seriously pre-
occupied by the ultimatum addressed
to Servia by Austria Hungary. 1t
was inferred from the communica-
ton that the localization OF posi-
ble war would be prevented by Rus
STA.
Press reports as to the attitude OF
the Servian government are contra
dictory. They state that Servian OF
hcers regard the condition laid down
by Austria as dishonorable, but that
the better class of Servians appear
afraid and think that Servia could
not stand a third war in so short a
time.
The Servian Minister and his staff
left Vienna tonight. A military
censorship has been established in
the telegraph Offices here.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-07-26
GOLD DRAIN ON NEW YORK
TO FINANCE COMING WAR

The effect of the crisis in the Near
East was felt in New York yesterday
in a lower stock market, and reflected
in the engagement OF $500, 900 in gold
bars for Europe ana the promise that
probably 100000 additional will be
sent to Europe on Tuesdays steamer.
All this goes TO France, which since the
first of the year has taken the bulk of
the $50 100000 in gold exported from
this port, including the 100000 which
left on the Philadelphia last Friday.
The local market. however. rallied
from the low Of the day and at no time
touched the London level. The de-
mands for stocks in the loan crowd by
houses having foreign connections in
Dictated that certificates were being Dor
rowed for delivery against the arrival
here OF the stocks actually sold, these
replacing the borrowed shares.
On the floor it was estimated that
the bulk OF the selling was for foreign
account, the turnover Of 10000 shares
of Canadian Pacific being credited as
due in large part to selling for Berlin
and to selling by professional opera
tors. influenced by the belief that Ber-
lin would begin to strengthen It's fnan-
cial position by dumping that issue. the
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-07-26

Paris. July %. The first official in
tjmation Of the acuteness Of the Ser
Wan situation came to-day when trad
ing in French rentes was suspended
on the Bourse by ministerial decree.
This. in effect, was notice that the gov
eminent looked for war III the near
East. and Official recognition that the
situation was far more serious than
had been anticipated. This is the first
time in many years that such trading
he's been suspended.
The Importance Of this development
was at once realized when it was re-
called that TO such action was taken
at the time Of the Agadir incident,
three years ago, when the peace OF the
world was threatened by the strained
relations Of France ana Germany over
Morocco.
The foreign Office tonight is busy
exchanging views with London and 81.
Petersburg in the hope of averting hos
tilities between Austria and Servia and
that failing 10 localize the troubles.
In these dispatches Frances is support
ing Russia in the demand that Servia
be given more time TO complete It's
reply. In the possibility of Austria
yielding to the tsmand of Russia, thus
backed up by France, lies the hope OF
avoiding war, with a great deal depend
ing upon the warmth with which Ger
many supports Austria in her original
note. which it is believed in high cir
cles, Germany had full and complete
knowledge of in advance OF its dis
patch to Belgrade.
Austro-German Harmony.
Later in the day a semi-official note
announced that Germany and Austria
were working in complete harmony,
but not on prearranged plans, in the
Servian matter.
"Adviccs from authorized sources. "
said the note. "shOw that there was no
concerted arrangement in advance be-
tween Austria and Germany respect
.ng the communication to Servia. Ger
many confines herself TO approving this
note which lacked the character of an
ultimatum. but constituted request
for a reply within certain limit Of
time.
"Austrias attitude has been incor-
rectly construed as implying a menace.
The note must be interpreted only as
an indication.
1T is desirable that any disagree
ment between Austria and Scrvia re-
main localized.
What reinsurance this note may have
conveyed was later destroyed by q
dispatch from Vienna announcing that
the Austro- Hungarian Minister. with
his staff. had quit his post at Belgrade
after notifying the Foreign Ofiice that
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-07-26

with newspaper extras. which are torn
from the lands of the vendors while
still damp from the presses. One
crowd OF more than two thousand sur
roucded the Austrian Embassy and
sang the Austrian anthem until the
ambassador appeared on the balcony
and gave his thanks FOR the expression
of good will.
The Servian Legation is being
strongly guarded, while unusual pre-
cautions are being taken 10 prevent
any demonstration against the French
and Russian ambassadors that nigh.
make more complex an already compli-
Gated situation.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-07-26
BERLIN MOB FOR WAR:
BOERSE NEAR PANIC

IB, Special Gable to The Tribune
Berlin. July 20. In strange con-
trast 10 the scenes Of decentralization
on the Boerse to-day. when prices
c.Umbled as they have not dropped IN
years. and general conditions were best
described as panicky. are the scenes IN
the streets Of the city tonight, with
cheering crowds everywhere and the
sound Of the national anthems Of
Austria and Germany rising above the
din. thousand are parading the Will
helmstrasse singing die Wacht Am
Rhein"
Both spelled the belief Of Berlin that
war with Servia is inevitable.
To the crowds IN the streets and IN
the restaurants il also meant war with
Russia, and, above all, with the hated
frenchmen They saw only the chance
20 avenge ancient grudges and TO Sc
cure more glory for the Fatherland.
But brokers and spectators on the
exchange saw more. They saw the in
cyitable crumpling Of credits, the pro.
viding OF funds 20 carry on the war,
TIE interruption 10 trade and COM
merce and the enormous bills that
will have 10 be paid when that war,
once begun, IS at an end
Derln Is UNANIMOUS.
Taken singly. these scenes show the
bright and the dark sides of the war.
Taken together, they show that Berlin
is agreed in It's conclusions, though il
expresses itself differently.
The crowds in the centre Of the city
steadily increased as the news pene-
trated the residential districts and
suburbs. which sent their quotas Of
men and women, collegians and high
school youths 20 join the throng in
Inter den Linden and Friedrichstrssse.
Parades were constantly organized
and proceeded 10 the Austrian En-
bassy. the Foreign Office and other
points Of interest.
About 10 o'clock at night the vari-
Gus detachments cOnverged in Inter
den Linden, near the palace, and 4
great procession. half a mile long and
Gfteen or eighteen abreast, marched
through that avenue across the Tier
gartsn TO the Austrian Embassy,
stopped a moment for ironieal cheers
before the Russian and French En-
bAssies. in front Of which bodies Of
police had gathered, gave lusty hur-
rshs. while passing the statues Of Bis.
march. Noitke and Room. in front Of
the RcichStsg, and assembled around
the Austrian Embassy, cheering for
Emperor FRANCIS Joseph and Emperor
William, and singing the German and
Austrian anthems.
Later an angry crowd assembled out
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-07-26

the situation, but appeals to the people
Of France to take matters quietly.
ave must look upon the situation
that has been created with GOODNESS
and calmness. but We must prepare Tor
every possible consequence" he said to-
day.
Bourse Greatly Excited.
The effect Of the war clouds was very
marked in financial circles to-day. At
this season the weekend holiday is the
rule with fnanciers in Paris. but to-day
the holiday was abandoned and the
square fronting on the Bourse was
parked with automobiles. In the early
tradings French 3 per cent rentes fell
TO 70. drop Of point and 0ne-haif
overnight. Prices rallied somewhat
when il was rumored that Austria had
agreed to give Servia forty-eight hours
more m which 10 make its answer, but
when trading in rentes was suspended
by government order both the regular
and curb markets declined sharply and
closed greatly depressed.
From a financial viewpoint France is
well prepared for trouble owing TO the
Increased stock of gold which for
months past has been boarded in varl-
Gus quarters. In the capital banks ana
bankers have restricted their payments
in gold coin. Concerning gold reserves
the latest statements available show
the stock of gold in the Bank OF France
is $500 OOO, 900 francs. Much of this has
come from America in the last few
months, and it is reported here that
several millions were engaged in New
York to-day for export to France, with
French bankers arranging TO make
further imports during the next few
days.
Germany. according to the informa-
ton available here, is also we'll sup
Piled with gold. In the imperial war
chest at Spandau are one and one-half
billions Of francs in gold. nearly double
Austria's store of o00.OO0.O0O francs
Italy has billion in gold and Russia
FIVE and n half billions.
A large number Of Servian officers
left Paris and other parts of France
tonight for Servia by way of Brndisi
They had received Geographic instruc-
tions 20 return to their commands at
once.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-07-26

added Sir Felix. ARE the result no, O.
natural trade or monetary conditions
but of a deliberate policy, and ee'
tainly afford considerably increase.
strength in the event of grave politla
difficulties arising"
The first efiiux of gold to EurOF
from New York began this year O.
January l3 and ended on March .. wh.i
Sl6,O00,000 had been shipped. II wa
resumed on May 1. from which date W.
Ill July 26 S23,S20,000 was exported
All of this, except S1.320.0OO sent to
London and S1,OOO.OOO direct to Berlin,
went 20 Paris.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-07-26

The Berlin press to-day ceased 20
discuss the possibility of trouble be
tween Acstria and Seryia. and began
asking what Russia's position would
be. As If to give emphasis to Ger
many's position. the "Ieitung Am Nit
tag" published he terms OF the Triple
Alliance. which binds Germany to back
up Austria with her arms in the event
of Russia or another power interfering
with her troubles in behalf Of Servia.
Tonight the city is being flooded
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-07-26

he gave unqualified approval IN az
vance TO any steps Austria might deem
il advisable 70 take and promised his
support to the limit
The greatest anxiety prevails IN
Berlin with regard 20 the attitude OF
Great Britain and the possible use OF
the great armada which assembled IN
the Solent a week ago. 1t is recalled
with the greatest relief that 10000 re-
serves have been dismissed from the
British feet in the last week.
Reports from ST. Petersburg say that
the Russian army is modifying, but II
is to be remembered that Russia mobil-
lied several corps when Austria an
nexed Bosnia, and the German En-
peror, stepping to the side Of his ally.
as was said. "in shining armor," put a.
veto on Russian Intervention.
Ironclad Censorship Maintained.
Austria and Servis are both moDlii1-
ing. but the silence Of all the dis
patches on the subject of military prep
arations indicates clearly that all iron
clad censorship has been established in
both countries.
Scryia's refusal TO humiliate itself 70
the extent that its big neighbor had
dictated is not unexpected. The Serbs
have been in proud frame Of mind
since their success in the late Balkan
war. and any government which yield
ed to such demands as Austria's could
not last even the dynasty would be
imperilled. Servias little ally, Monte
negro. seems determined TO cast its LOT
with its cousin in war.
Servian partisans abroad advance the
theory that Austria has made up her
mind 10 dispose of her neighbor, so
long thorn in her side, and has
chosen a moment when the nations OF
the Triple Entente are handicapped bv
home troubles Russia with great
strike. France with political up
heaval, Great Britain with a threatened
civil war in Irelard-to strike de
cisve blow.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-07-26

: side the Russian Embassy, with contin-
uous shouts of Down with RIssiai
Down with Servia! Hurrah for war"
The impression in diplomatic circles
here is that the European situation is
extremely serious, indeed. the graycst
since 1870. All eyes are turne to St.
Petersburg, and even among the most
optimistic there is no confidence that
war will be averted. French residents,
who are in close touch with .he embas-
sy, are making preparations 10 return
to France for possible service.
Information received late 20 righ:
from a quarter in the confidence OF the
German Embassy at 81. Petersburg, de-
clares that the first desire to settle the
controversy through diplomatic means
is giving place TO a decided war spirit
and insistence that Servia be supported
in every way.
Not since the Moroccan crisis has the
break in prices on the Boerse been
equalled in a single day. There was
no mistsking the temper Of the market
al the opening. Here, more than any.
where else, II the teleRraphic reports
are 10 be believed, the impression was
most deeply seated that Austro Servian
hOstilities we're impossible TO avoid.
and that with Russia and France in
teIvening general conflict INVOLVING
all Europe was among the rapidly near
ing possibilities.
Leading German industrials opened
from 2 to 6 points down Shipping
shares were from in North German
Lloyds to "a points lower in Hamburg
Americans. Leading German banks
were from 2 to 3 points off. All gov
eminent issues were weak. while Cam
adian Pacific. the leading international
issue. was nearly points below Fri
days close.