The Washington times., 1916-10-08
.F|NANC|ERSBAFFLED
BY PEACE REPORTS,
MOVE MITIGATION
Charles H. sabln Reiterates
Statement That Germany
viii Ask for Cessation.

NEW YORK. Oct. s-whip-saved
by conflicting reports, big financial In
terests are moved with the utmost eau
tion in response to reports that Ger
many has decided to suggest peace.
Against Ambassador Bernstorff's posi-
tive, denial was the reiterated state
mcpt by Charles H. sabin, president Of
the Guaranty Trust Company, the sec
ond largest financial institution in New
York. that he had learned from sources
OF unquestioned reliability that Ger
many had decided to ask for peace.
The fact that sabin was the banker
who fathered the peace report was
made public about an hour after the
stock market opened. There had been
q rally at the opening and q partial re-
covery OF the losses sustained yester-
day when the peace stories set the
stock exchange In q fever Of excite
ment. ,4 Or. %
y, Reaction Sets In.
Toward the close OF the brief Satur-
day session a reaction from the peace
sentiment set in and stock prices gem
spaeSd srs Trough Wall Street ahat psr
haps Sabin's information had come
from source. anxious to depre,ss,, .,.,,, ths
through a sudden drop in stock prices;
The arrival of the submarine U-3
supposedly bearing confidential mail
advices for Ambassador Bernstorff.
coupled with Bernstorff's appointment
to see President Wilson, on Monday.
lent more strength to Sabin's state
ment after the market closed.
Friend Of the Guaranty Trust Com.
pany head said last night he did not tell
reDortera that m ha aaa dor Gera rd was
bearing q peace message from the
Kaiser. He did say that he had positive
information that Germany had decided
to ask President Wilson to initiate
specifically told reporters that he did
not know whether or not Gerard was
bringing the peace message.
Sabin when first encountered by cor
respondents on the golf links at South
ampton. l.. l., yesterday afternoon. de-
interview. Later. when told The inter-
view had been credited to him, he de-
MED having said that Gerard was bring
ing peace message.
Sabin Is Questioned.
"Will you give the source OF your in
formation" he was asked.
Absolutely not-I never will" was
his reply.
1T is denied that peace negotiations
are In any definite shape" sabin was
told.
lit Is true. Furthermore the Admin
istration knows about It."
Then you dispute President VIII
son when he denies knowledge OF the
negotiationsT he was asked
Il won't say President Wilson knows
negotiations are In progress, but II
IL known to the Administration"
Sebin refused to answer one reporter
who asked II he had gone to J. p.
Morgan's office before giving out the
had no motive in giving out the story
other than to give the newspapers a
good piece OF news.
Didn't you hear n big movement in
wheat might be affected by peace
overtures?' he was asked.
Il don't know anything about It,"
he replied.
As the newspaper men were leaving
MIN. Sabin shouted: Remember. what
1 told you was absolutely true"
To Avert Panic, Report.
One report that gained wide oircu-
lation In Wall Street after the market
closed yesterday afternoon was that
Sabin to prevent a near panic on the
stock exchange being caused by definite
word that Germany Is bidding for
peace.
According to thisJ report big nnan-
ciers received word Thursday of the
nature OF the message Ambassador
Gerard Is reported to be bearing to
President Wilson. They called q con.
ference Thursday night and II wat
agreed that Sabin should pass the
news to reporters the following day
thus preparing the public for an offi.
ciai announcement on Gerard's arrival
and a s,SlSt fOrestallins possible crash ir
Sabin himself would not discuss thiI
report nor any other connected with
the story except TO reiterate tho state
,,,ant vnaAa uaatarHau