New Britain Herald Newspaper, August 5, 1914, Page 11

WEW BRITAIN . DAILY HERALD WEDNESDAY, AUGUST 5, 1914 WILL MAKE EUROPE RICHTER & CO. ERS NEW YORK STOCK EXCHANGE Represented by E. W. EDDY. New Britain Nat. Rank Blde. Tel' 1120 GOING FISHING THIS SUMMER? Bet if you do there’ll be lots of times when you sit around in the boat with nothing to do but watch the sun a-glistening on the water by your bobby and wait for some kind of a “fin,)’ to start™ suthin without much luck— Watchful Waiting’s a Good'Policy But if you have something worth while reading while a double bar- reled jimmy pipe is taking the skin off your tongue you won’t mind the wait half as much. It takes a live one to keep you interested at times like that though. No use skimming through a lot of “tommy rot” about Gladys and Leod Why not tackle reading that wi'l keep you informed, broaden your knowledge of current events, and tell you what your neighbors are doing with themselves. he Herald Fills The Bill Subscr be for it before you go away. Get it before you go out in the boat and have a good time between bites. Fifteen cents and your address is the price. Leave it with us. . | PAY CASH DOWN Sx Men Wil Carry Out Trade Campaign for Bankers. New York, Aug. 5.—The foreign exchange bankers who have been meeting daily at the Guaranty Trust company since last Saturday to de- vise means of bringing relief to the | chaotic exchange market voted yes- terday for the appointment of a nom- inating committee of three to des- | ignate a committee of six, the latter | to act as a sort of directing board | and to plan a campaign ot action for the whole number. August Ulrich, of Ladenburg, Thal- mann & Co., crairman of the meet- | ing, named Max May, vice-president of the Guaranty Trust company; | Jerome J. Hanauer, of Kuhn, Loeb | & Co.,, and R. Z. Hebden, agent of the Bank of Montreal, to select the larger committee. Although the New York Stock Exchange is Closed temporarily our ticker service will continue for the benefit of customers or any others desiring the latest news from Europe. Telephone 1120, Committee of Six. 'The committee of six is to be made | up to representatives of some of the | most important institutions in the foreign exchange business, presum- | ably with the power (o act with au- | thority for the companies and firms| of which they are officers or mem- bers. Its personnel was not dis- closed last night, but among the prob- | able members are Max May, repre- | senting the Guaranty Trust company; } | | John E. Gardin, vice-president of the National City Bank: some one of the partners of Kuhn, Loeb & Co., and a representative of the Hanover Nation- al Bank. One of the most important matters with which the committee will have to deal ise the question of how cotton and grain are to exported to Europe at this ttme, when the ocean is almost bare of merchant ships and the rail- roads are finding it necessary to place an imbargo on interior points on all shipments intended for export in or- der "to _prevent congestion of their j €r said he thought the recent esti-| terminals at the seaboard. Max May Explains. Another matter is to ararnge for a way in which American exporters can receive pay for their shipments and American importers can meet their | foreign debts. Max May said after | the meeting yesterday: | “We are compelled to make a com- plete change in the method of hand- ling foreign exchange in this country. Heretofore, Americans have purchased documentary hills of exchange and ! have taken the risk of regarding the carying out of the shipment and the payment of the bills of exchange. Now, we shall require the govern- ment of England or France or Ger- many, as the case may be, to take the risk on the shipments and the pay- ment of the exchange. Must Deposit Money. “If England wants grain or any other commodity, she will have to de- rosit money with the Bank of England to the credit bf the London repre- sentative of the American banker, 2nd the English copsignee!will have to take the risk of the arrival of the con- signment. In other words, England o~ France or Germany will have to de- posit money in advance of the ship- ments. With this money deposited, we will be able to draw bills of ex- change on our London branch and get our money. and the risk in the ship- ments, so fax'as New York bankers and producers are concerned, will he eliminated. “Foreign exchange cannot be cdn- ducted, when countries are at war, in the same fashion as when countries are at pegce. The position is that England and the Continent want our grain, our cotton and our commodi- ties, and that it is only a matter of prudence that we require payment in advance an dthe government guaran- tee of the delivery of the ship-| ments.” | Will Stay Here. 1 The gold which was brought back to | the Uniteq States by the Kronprinzes- | sin Cecilie, said Mr. May, will stay here and be redeposited in the sub- treasury to the credit of the hanl:s; which made the shipments. Now thit | | foreign exchange transactions arc to be placed on a war basis, the ship- ment of this gold abroad is out of the question. | Later some of the bankers who have consignments on the Cecilie said they | might put their share of the gold either in the vaults of the Clearing | House or keep it at their own offices Discussing the whole situation yes terday afternoon, a well known banl mates of about $85,000,000 on the ! amount of foreign credits accumulated | here in the last two weeks, through | the sale of securities on the Stock Ex- | change and the calling of Canadian banks, were nearly correct. loans hy | MASH MARKET. London, Aug. 5.—The Pall Mall & Gazette today makes public reports current in the city to the effect that the heavy selling orders from - Ger- many during the past week or two were really a deliberate attempt to TRY TO | smash the London market and cause a scare in the financial and commer- cial world so as to keep Great Brit- | ain out of the war. The newspaper | says that it hears that a sum of $10- | 000,000 was expended or had been ar- | ranged to be expended for this object | with the cognizance of the German government. . , TR KRR Washington, Aug. 5.—Postmaster General Burleson announced today that because of the entrance of Great Eritain into the general Iuropean war, American mails were being transferréd to ships of the United States, Sweden and other countries not involved, MAILS. ‘ | I | the men of the hour in the | Germany’s’crack army, and then war | | OFFERS TO BRING | terday | every five days thereafter as long as $3.95 Sizes 14 to 42 Lingerie Dresses, Dresses. Voile Dresses, All-Over Embroidery Dresses, Shadow Lace Dresses. Former prices $5.95 to $9.95 Now Only $3.95 Ladies’ Dept., 2nd Floor Closed Friday Afternoon. v hatten &Sin SUITS FOR STOUT WOMEN A SPECIALTY. and Crepe GERMANY’S MINISTER OF WAR; HE’S BUSY GEN.VON FALKENHAYN General Von Falkenrayn is minister of Germany. He is one of German When the kaiser issued the | for the mobilization of the Von Falkenrayn put in motione war empire. orde army began. AMERICANS HOME United ¥Fruit Company Ready to Place Fruit Stecamers at Disposal of stranded Countrymen, l New York, Aug. 5.—The United | Fruit company, through Andrew W. Preston, its president, announced yes- that it would undertake to bring home Americans marooned in Europe by the withdrawal of trans- Atlantic steames. The steamship Montagua, owned by the Eider and Iyffes Steamship com- pany of England. a subsidiary of the United Fruit company, will sail from Rristol, England, tomorrow with 200 Americans. The steamer Bayano will <ail with 200 more on August 10, The Chagres will sail-on August 15 and the present situation exists one of the company's ships will leave Bristol for New York. The United Fruit company oper- ates a fleet of vessels between the United States and the West Indies, Central and South America. The El- der and Fyffes company runs steam- ers between the West Indies and Eng- land. Additional vessels, it was stated at the company’s offices here, today, would he chartered to make the run between the West Indian ports and Bristol, while the regular . steamers were engaged in bringing stranded Americans home. The TElder and Fyffes steamers fly British flags. 1 AUTOIST WITHOUT LICENSE ARRESTED William Martin Drives Though Main Street at High Speed. ‘William Martin, formerly chauffeur for P. S, McMahon, was arrested yes- terday afternoon by Officer Patrick Quirk on a warrant issued by the prosecuting authorities, Martin is accused of reckless driving and also of operating a motor vehicle without an operator’s license. He pleaded guilty to the latter charge and not guilty to the first one, P. S. McMahon Gives Bonds, P. S. McMahon furnished a bond of $100 and the case was continued for one week as Martin told the court that his brother is seriously ill and he feels he should be with him. Was Going Too Fast. The charge against Martin is that on Sunday night at about 6 o’clock he came speeding up Main street in the Hotel Bronson automobile at a rate of speed estimated by Traffic Officer Lamphere to be at least forty miles an hour. The street was crowded at the time and the lives of many people were endangered by his reckless driv- ing, it is claimed. License Already Stpended. At the present time Martin is with- out an operator’s license as he was arrested in Meriden for speeding and fined $50 and costs. At the time his license was revoked and yesterday af- ternoon he was given a hearing by Deputy Richard J. Dwyer in the ab- sence of Secretary of State Phillips. FPoliceman Schurer, of Meriden, ap- peared against Martin yesterday and said that he escaped at the time for his violation of the law in Meriden but was subsequently arrested in an- other city. Rowe Wheeler, a state policeman, said Martin's license was suspended on October 2, 1913 and he did not think he should be granted another. Arbour Given Hearing, The cases of four other local au- temobilists were heard at the secre- tary’s office yesterday as well as that of Martin. Joseph Arbour, who was convicted in Bridgeport of driving past a stationary trolley car as an old woeman was getting off and was fined $100 and sentenced to serve five days in jail, entered a general denial of these accusations and will be given another hearing next week when he will have yvitnesses to bear ott his side of the story, Missctt Also Appear: Thomas Missett, the Plainville man who was heavily fined by Judge Mes- kill for speedifg up West Main street, where he had an accident at the ! Black Rock bridge, was also given a were | hiearing. Those who testified Chief W. J. Rawlings, Officer Thomas Heslin and Otis Hopkins. Deming and Corliss Heard. In the hearing of Charles A, Dem- ing’s case A. F. Eichstaedt declared that the former’s auto had passed him cn South Main street at a high rate of speed just before he crashed into young Harold Wallen. Other local pecple who testified against Deming were Mrs. W. E. Thorngun, and Mrs. M F. Gilbert. Officers Clarence Lamphere and William Hart testified against L. W. Corliss, of this city, who was arrested séveral weeks ago for reckless driv- ing on Main street. Corliss did not deny the charge but his record is good and there is nothing against his character. LOCAL PEOPLE ABROAD. Kelsey Street Woman and Children Are In England On Visit. Mrs. Krnest Whatnall and her children, Florence and Harry, of Kel- ey street have been visiting in Eng- nd for some time. Mr. Whatnall has een planning to join them, intending to cross the ocean next week. Miss Emily Phillips of Naugatuck, formerly of Fairview street, this city, is expected to land in New York Sat- urday after fleeing from England last Saturday on a Cunard liner. Miss Phillips has been abroad for the past year studying music. When she decid- ed to come back to the U. . A, she found she would be forced to pay a big bonus to secure passage on any ship. Members of the New York Consolidated Stock Exchange. The only Stock Brokerage house | G, EDW, GRAFF | WM, E. GILMORE SPECIAL, No. 1 Wall st., New York TAFT ISSUES WAR MESSAGE T0 U. S. Ex-Presideat Calls Ewropean Cos- flict a Cataclysm. New York, Aug. 5.—The following “message to the people of the United States” by former President Taft, will be printed in the Independent next Monday: “As 1 write, Germany is repbrted to have declared war against Russia and France, and participation of Eng- land on one side and of Italy on the other seems imminent. Nothing like it has occurred since the great Napo. leonic wars and with modern arma- ments and larger populations nothing has occurred like it since the world’ began. Calls It a Cataclysm. “It is a cataclysm, It is a retro- grade step in Christian civilization. It will be difficult to keep the various countries of the Balkans out of the war, and Greece and Turkey may take part in it. All Europe is to be a bat- tleground. It is reported that the neutrality of Holland has already been ignored, and Belgium offers such op- portunities in the campaigns certain to follow that her territory, too, will be the scene of struggle, “Private property and commercial shipping under an enemy’s flag are subject to capture and appropriation by prize proceedings, and with the fermidable navies of England, France, Germany, Russia and Italy active, the great carrying trade of the world will be in large part suspended or de- stroyed or will be burdened with such heavy insurdnce as greatly to curtail it Hard to Prophesy. “It is hard to prophesy the scope of a war like this, because history offers no precedent. 1t is impossible to fore- see the limits of a war of any pro- portions when confined only to two countries. In cur own small Spanish war we began it to free Cuba and wken the war closed we found our- selves 10,000 miles away with (he Philippines on our hands. “The immense waste of life and treasure in a modern war makes the loss to the conqueror only less, if in- deed it be less, than the loss to the vnn.quered." STRANDED IN EUROPE Opera Singer, Unable to Leave Ger- many, Appeals to the United States, Chicago, Aug. 5.-—Mme, Ernestine ,Schumanp-Hemk» grand opera singer, today cabled her attorney in Chicago for assistance to get out of Germany. “As no letters are ailowed and ine tercourse with outsiders is forbidden,™ the message reads: “We are stranded at Beyreuth, When will America send for her citizens?” Her counsel cabled her that the United States was prepared to assist all citizens in Europe with money and transportation, and advised her to communicate with the nearest Ameri- can consul 5 The German singer., who is a naturalized American, went to Bey- reuth to sing at the Wagner festival after obtaining a divorce in Chicago from Willam Rapp, Jr. EMBARGO ON BALANCES, Berlin, Aug. 5.—An embargo was today laid on Russian balances at the great banks in Germany. These funds arc considered by Germany as prop- erty belonging to a hostile force, We Offer: 10 Am. Hdw. Corp. 15 New Britain Mch. Co. 15 Union Mfg. Co. 10 Landers, Frary & Clark. snrders on the Hoston and New York Stock Eschanges PARKINSON2nd BURR Members LUNTON AND Sipck ofthe NEW YORK Exchnmen. Represented by E. S, BALLARD, 13 veurt Street. Tel. Chinrier ava .HARTFORD, Members of th Chicago Board of Trade, in New Britain With ticker ser~ vice and direct telegraphic connection with New York and Chicago F. N. GILFILLAN. LOCAL MANAGER, TELEPHONE 1006 4th Floor, National Bank Building. New Britain, Conn.