The Birmingham age-herald., 1915-07-26
THE FINANCIAL SITUATION

AL Ol 1 OA HUN I for gains in net earnings and continued
 shrinkage in weekly gross returns. Canadian Pacific, St Paul, Southern
 railway preferred and several other
 issues sold at lowest prices in years,
 the decline promoted by dubious divi- dend prospects. Virtually all the shares of the roads traversing the south and southwest make low record prices. The 1 country's strong exchange position pro- vides against harm from foreign liqui- dalton.
 deal of 50.000 900 one to two- I year note issue here by Canada on at tractive interest returns was the week s banking feature.
  tion for English intuition ships" The Tages Zeitung "Neutrals have rights, but so also has a great nation fighting for its life. Though maintaining submarine warfare, Germany always is Willing to respect the iustifable wishes or Americans. but not at any price"
 Count Ernest von Reyentlow in the Iages Zeitung declares the contents and wording far exceed even the most @niavorable anticipations. He writes: The note uses language which Will Ind no response with the overWhe elm ing majority of the German nation, since it means in the last analysis an apeal to fear threatening, domineer- ing demand. The note will make con ceivably bad impression among the people since 1t lacks utterly the friend iy frankness of the German note and breathes almost hateful disregard of the German governments standpoint"
 English Opinions London. July 26-G2:4O a. m.)-There is only one opinion expressed by the British press on the American note to Germany-that, in polite language. 1t Is tantamount to an ultmatum, and the dignified manner in which Pres ident Wilson has stood from the be- sinning of the negotiations for the principles of International law and hu- manity'' is remarked with satisfaction. The issue between the two govern nents is thus stated in its sternest and most unequivocal terms says the Daily Mail and adds:
 "Whatever happens, nothing can de- tract from the dignity. high minded ness and patient skill with which President Wilson, acting in the name of humanity and from no merely national motive. has thus far conducted these difficult negotiations"
 The Daily News says:
 German American papers which suggest that America is forcing a quar- rel upon Germany are guilty of a gross travesty of the facts. No government could possibly have given more con- vircing evidence of its pacific inten tions than Washington has done under quite an unh card of provocation. A sin gle intractable submarine commander may destroy in a few seconds the flim- sy fabric. which Is all the remains of official German-American friendship"
 The Daily Graphic thinks 1t unlike ly that the American note will result In war because of the cosmopolitan population of the country.
 Tt is needless to say" the newspaper adds, that we in no wise are anxious that America should be dragged into the war. but only that as the most powerful neutral nation she should un- dertake the defense of the principles of international law
 The Daily Telegraph says:
 Those who had expected any lack of flrmness in the note will perceive that Secretary of State Bryan in resignins correctly foresaw the development of this momentous correspondence be- tween Washington and Berlin. While scrupulously courteous, the note Is in substance an ultimatum and nothing else"
 Berlin, July 25.-d0 p. m)-Captain Per cus the naval expert Of the Tagepiatt. says:
 '.The American note expresses a decided will to rob us in our battle against Eng land of the weapon on which we place the biggest hopes By the rejection of the German proposals regarding special ships the United States shows that it Is not striving for the safety of its citizens, but rather for the laming of our sub marine campaign.
 ''It distinguishes between the rules or interna tional law on land and on sea be- cause it now suits the chief helper of Great Britain to do so.
 "This note shows that the British agitators have obtained domination over tho President"
 The Vossische Zietung says that Ger many's courteous proposals have not been able to change the Presidents obstinacy and that he not only rejects all proposals, but clothes the rejection in form that is anything but friendly.
 Whoever plans such thing, the Vossische Zetung continues, ''is no longer neutral, but takes sides against Germany and for its enemies
 Defends Sinking of Lusitania The newspaper defends the sinking of the Lusitania, which it terms a warship, and says that different course cannot be followed toward a warship simply be- cause Americans are on board. The Vossische Zeitung says that the note further shows "that not only is President Wilson's policy in the mat ter of the German submarine policy in | nuenced by an especial relation to Eng 1 land. but also by the internal political situataion in the United States. 'The only answer to the concluding para graph of the note,' says the news paper, Ifs that Amervcan citizens have l it in their own power to avoid danger"
 The Morgen Post declares the note I shoves the German proposals aside and that it's author lifts his finger threaten l ingly and considers that an especially 1 strong way of establishing his point" l The Kreuz Zeitpng declares that almost every sentence in the note demands a sharp disagreement. It declares it may be | supposed the German government will | stamp as a misunderstanding the state ment that it has acknowledged as a prin- l ciple of law that the character and cargo | of a merchantship must be established be- l fore the ship can be destroyed and that l the lives of noncombatants may in no case be endangered unless the vessel at | tempts to flee or to resist.
 I The newspaper asks whether it is just 1 that Germany should surrender her fight | ing power that a few neutrals may fol- 1 low their mood to cross the ocean on enemy ships.
 Note is Unsatisfactory We resist the thought" the Kreuz