New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1915-05-15
Morgan Admires Firm
Tone-Others Say Ger
many Will Avoid War.
RAILWAY INTERESTS
PRAISE PRESIDENT
Choate and Coudert Say Ma
tons Honor Is Upheld-Min-
listers Hope for Peace.

! Wilson on German violation OF the
rules OF war at sea in his official COM
munication to Germany summarized
the opinion OF Americas foremost
bankers. With one accord they de-
clared their loyalty to the Chief Execu-
tive of the nation at this time when the
future is still fraught with possibili-
ties of the gravest character.
Frank A. Vanderlip, president Of the
National City Bank. did not come
down to business yesterday, but over
tie telephone from his home in Scar
borough he made this statement last
night:
81 think every sentiment in the Pres
ident's note is correct. would not
change a word Of it. The American
people will stand by him in whatever
/ it means, and in seeing that he is up
held in everything he has enunciated."
/ Notwithstanding the fact that the
President has placed the issue of peace
or war squarely up 10 the Kaiser and
/ his advisers, the preponderance OF SEN
/ tlment in the financial district was that
| Germany will not rush madly into hos
! tilities with the United States, but
realizing that she has much more TO
| gain through our continued neutrality,
will do her utmost TO maintain the
status quo. With this country prac-
/ tically the only free market place Of
the world bankers said that Germany
Will need it whether she is the victor
IN the present struggle or not. Other
expressions of opinion follow:
Henry +. Dawson, of J. p. Morgan
& Co.: 81 think the note was a mod
crate but strong presentation of an
important case bearing the Endorsement
OF every American on its back. The
note also takes a firm stand"
A. Barton Hepburn. chairman OF the
/ Chase National Bank: Il unqualifiedly
1 indorse the Presidents note to Ger
many. II is dignifed, statesmanlike,
| just and right. He presents the posi-
B ton of this country fairly and forcibly
The whole country will support HIM
if Germany refuses TO agree with him
she must take a new position as 10
neutral and bellgerent rights different
from what the world has accepted, diff
ferent from what Germany has occu-
pied and maintained heretofore"
A. j. Hemphll chairman Of the
Guaranty Trust Company: IL feel that
the Presidents note to Germany fully
expresses the demand Of the American
people. Ii is just, frank and firm. 1t
has unified all factions and parties.
There are no more pro-Germans and
anti-Germans. The entire nation stands
behind the President"
James S. Alexander, president Of the
National Bank of Commerce: 81 think
it is very strong note. Il puts the
issue squarely up to Germany. What
her answer will be is hard to guess,
but Germany has much TO gain by
keeping US out. She will need US after
tho war"
Otto T. Barnard. president Of the
New York Trust Company: 81 believe
the Presidents note was admirable.
1t was just right. and give it my un-
qualified approval. 1t was a difficult
task and he has performed it ad-
mirably, whatever may happen. He is
entitled to the highest praise"
Frederick Strauss, of J. & W. Selig-
man g. Co., said: 81 consider the note
admirable in every respect. II is splen-
did in its substance, its tone and its
spirit"
Walter f. Frew, president Of the
Corn Exchange Bank-"I feel that the
Presidents note to Germany can only
be most highly commended. II is hd-
mirable for its frmness and it's ex-
preston of the feeling Of the Ameri-
can people"
Frank Trumbull, chairman OF the
Chesapeake & Ohio and the Missouri,
Kansas & Texas railway companies,
representing the sentiment among rail-
road executives, declared:
mo President could have handled
the situation in our European relations
better than President Wilson has"
George W. Wickersham said: 81
don't care to make any comment on
the note until have read It carefully,
but the whole country seems 20 be
satisfied with it, which is the iripor-
tant thing"
One of the strongest arguments put
forward by bankers against the United
States entering the war was that the
Teutonic nations have already been
willing TO concede a vast extent OF
Austrian territory TO Italy TO keep
her neutral, and they thought il in
conceivable that she will not make the
most important concessions demanded
by the United States"
The effect of the publication OF
President Wilson's note TO Germany
on stock market prices was TO empha-
size to a greater degree the weakness
of the previous session, which was at
tributed 10 the summaries printed in
the newspapers. A drop in prices IN
the issues most heavily traded In
ranged from one and half 10 more
than seven points.
The volume of selling-in excess OF
$50 900 shares-was not sufficient in
itself to bring about such big declines,
brokers said. They declared u was
simply a case OF prices melting away
from an absence OF buying power due
10 the uncertainty over the attitude
Germany will take on PRESIDENT VII
sons note.
Joseph II. Choate was especially en-
thusisstic in his praise.
81 think President Wilson's letter
i. a splendid one" he said. IL quite
agree with what he says in IL, and
think that every other American should
do the same"
Frederic K. Coudert, an authority on
international law. said:
~ must now be evident 10 all that
the dignity and honor OF the nation
are entirely safe in the hands OF the
Chief Executive. and IL is certain TO
my mind that he will receive unanimous
snnnort in whatever steps he may deem
necessary in carrying out the Just
course that his note cogentiy sets
forth"
at il one OF the most mastery state
papers ! have ever seen SAID tIIery
{. Stowell. associate professor OF inter
national law at Columbia University.
III il A document to which every Amer
lean ought TO be willing TO set his sig
nature"
Herman A. Metz. former Controller
OF New York. said:
The message Of President Wilson is
q very able statement Of conditions that
exist II he will 60 a STEP, further snd