New Britain Herald Newspaper, August 8, 1914, Page 10

NEW BRITAIN DAILY HERALD. SATURDAY, AUGUSI1 SEC. WADOO CALLS TRADE CONFERENCE Exchange Bankers and Shippers to : Meet on August 14th. Washington, Aug. 8.—Secretary Mc- Adoo, as chairman of the committee appointed to handle the financial and commercial problems growing out of the European war issued a call yester- day for a conference of representa- tives of the leading shipping concerns and foreign exchange banks to meet at the treasury department = on August 14. Mr. McAdoo in a statement an- nounced that it is vitally important that sufficient ships be found to move the grain and cotton crops and that the market for bills of exchange be restored through the American _ bankers. Many Supreme Problems, The. marketing of the crops and l providing means for receiving pay- | ments from abroad, together with the | detailed questions of what is contra- | band of war and of providing insur- \&DCG.!O\‘ crop cargoes while in trans- portation, are regarded as the supreme problems which must now be faced. President Wilson and his advisors ? feel that adequate provision has been { made for taking care of Americans | stranded in Europe and for bringing them back home. Secretary McAdoo’s Statement. Secretary McAdoo's announcement i follows: “It is of vital importance to the | country that two things be done as ) quickly as possible: “First—Provide ships to move our lgrain and cotton crops to European 'markets, and “Second—Restore through the (binkel_'! the market for foreign bills of exchange. . “For the purpose of concerting /meagures to this end I have today ‘called a conference of the represen- tatives of the leading shipping inter- ecsts and foreign exchange bankers to meet at the treasury department on lAugust 14, at 11 o’clock a. m. Very Pressing Problems. “Grain is a very pressing problem |at present, because the crops have {heen largely harvested and the move: ment is already well under way. The ,cotton movement is not so advanced ard will not be for a few weeks. “It is my purpose to invite a con- ference on the subject of cotton to be 'held at an early day of which an an- rnouncement will be made later. These are important questions, and every possible effort will be made by the administration to co-operate in the movement of these great crops. “The names of those who will at- tend the conference on the 14th stant will be announced later.” Mr. McAdoo in an informal inter- view indicated that the government is now without definite plans for deal- ing with the situation. He expressed confidence that the shipping men and exchange bankers together with ad- ministration officials would be able in the next week to produce a plan ade- quate to the emergency. Ship Legislation Needed. in- The secretary sald it was necessary that a bill amending the laws reg- ulatory of American registry of ships be passed by congress. congress to pass this measure, he con- tended, would hamper the govern- ment and the commercial in their efforts to solve the portation problem. Until the conference has met, he i declared, it will be impossible to learn the amount of tonnage that may be secured from the coastwise shipping and other sources where ships are available under international law. It was learned that the government does not contemplate establishing a system of conversion of warships into merchant vessels. Other means wili have to be found for insuring the safety of articles thus marketed. Failure by interests trans- Without Any Scheme. Representatives of the cotton sates in congress, who have been recently conferring, admitted they were without any handling the situation. Various s gestions have been made, including one that the government buy all the cotton and hold it until such a time as it can be marketed, but the fact is the representatives are waiting for in- spiration from the government or other sources. Dependence is being put chieny upon the ability of Great Britain and France to keep the seas open. This would solve the problems at once for it would enable British ships to be used to transpori American freight and at the same time it would sim- plify the foreign exchange situation. It is said that if this can be lone the cotton men will be assured of a market for 3,600,000 bales in England, 1,000,000 in France, and 100,000 in Italy. American manufacturers then would face only the need for absorb- ing the 2,500,000 annually exported to Germany in order to maintain somewhere near normal conditions. so far as this product is concerned. scheme for SAILINGS CANCELLED. Glasgow, Aug. 8, 12:20 P. M.—To- day’s sailings of the steamships of the Apchor, Allan and Donaldson Lines were cancelled and consequently about 1,000 Americans and Canadians who had booked their passages are left stranded here. DISCOUNT RATE REDUCED, London, Aug. 8, 11:30 A. M.—The Bank of England discount rate was reduced today from 6 to 5 per cent. The war risks insurance office to- day reduced its rates on cargo from 5% to 4 1-5 per cent. yesterday that | UNITED STATES SIXTH IN OVERSEA CARRIERS Uncie Sam's—mscls Rank Second in Total Tonnags. Washington, Aug. 8.—The world’s carrying power now includes approxl- | mately 31,000 vessels, wiin an aggre- gate capacity of 47,000,000 gr and has nearly doubled in during the last twenty years. In number, however, the commerce tons capacily fleet has decreased slightly, thus show- teartency toward larger carrying These figures are based on the tonnage of all vessels over 100 tons engaged in trade, whether domestic or foreign, on ocean, river and lake. This country is tied with Germany for second place in the number and tonnage of vessels engaged in com- merce, but this is due to the vaa. number of vessels engaged in lake land ocean coastwise trade, since the | number of American vessels engag-d i in foreign trade, according to reports received by the bureau of ing a units. is less than that of Great Germany, Italy or The Total Tonaage. According to a recent statemewl of Lloyd's out of a total tonnage of 47,- Britair, France, Norway. cent. were credited to Great Britaln 11 per cent. to the United States., 1! per cent. to Germany, about 5 per cent. each to Norway and France, 3 per cent. each to Holland, Italy ana Japan, and from 2 3-4 to 1 3-4 per cent. to Russia, Sweden, Austria-hun- gary, Denmark and Spain. The carrying trade of the United States shows a marked growth in coastwise and lake traffic and a de. cline on the ocean. While the gross tonnage of American vessels engagec in lake and coastwise trade was in- creased from 3,657,304 tons in 1883 to 9,798,661 tons in 1913 that of our vessels in the foreign trade was de- creasing from 1,302,095 tons to 1,0%7,- 776 tons, an increase in one case of 168 per cent, and a decrease in the other of 21 per cent. during a thirty year period in which the value of our foreign trade rose from $1,500,000,000 to $4,250,000,000. The volume of the oversea com - merce served by the world’s merchant | | marine cannot be definitely stated. It, i is known, however, that a consigerable ' i ! portion of the $40,000,000,000 worth | of merchandise imported and exported by the various nations is carried by vessel. ! British Trade. The United Kingdom being an islanad | community necessarily imports ana i exports all its merchandise by vessel. { The United States sends about four- fifths of its exports to South Americe and overseas countries. foreigu ! commerce, Department of Commerce, | 000,000 gross tons in 1913-14, 40 per | i much moved, appeared on 95 per cent. of her exports to extr South American communities. Nearly half the goods shipped from the United States to Asia are destined for extra-Asiatic communities and practically all of Africa’s trade stabl find markets outside the dark cont nent. While trade between the KEuro- pean nations is considerable, those countries ship a large part or their surplus products to other parts of the world. Enlarging Shipping Facilities. Recent advices indicute that many of the leading nations are enlarging their shipping facilities for .lrade through the Panama canal, it is expected the markets of Soutn America and Austialasia will be stim- ulated by the opening of the canal. The countries fronting on the Pac fic have an aggregate Inport trade of over $5,000,000,000, and it is i lieved that a share of the United States in that trade will be advan tageously affected through shortwn- ing of distance transport facilities. Of that trade we now supply about 13 per cent., a much smaller propor- tion than appears in our trod: consular for from the lines. ‘ ENGLAND GRATEFUL FOR ITALY’S STAND standpoint of steamsiip i Remarkable Demonstration Held Be- | fore Italian Embassy at London Yesterday Afternoon. London, and Aug. S.—A unusual demonstration of friendliness occurred front the Italian embassy yesterday afternoon. The demonstration was organized by members of the peerage, members of the house of commons and others prominent in the political and social world, and thousands of passersby joined in the cheering, which con- tinued until the Ambassador Marquis di Francavilla and the marchioness, the bal- most in of cony. The ambassador said, amid a scene of the wildest enthusiasm, that Italy had declared her neutrality and would - adhere to it. Among those who participated in the demonstration were the Marquis j of Londonderry, Lord Robert Cecil, | the Earl of Lonsdale, Baron Farquhar | and G. L. Pocker-Lampson and Ron- ald McNeill, members of the house of commons. They arrived in automo- biles which were decorated with Brit- ish and Italian flags. They waved a huge Italian flag. TRIBUTE TO MRS. WILSON. Brazil senas i Virginia Federation of Labor to Aid Slum Legislation. Washington, Aug. 8.—E. C. Davi- son, president of the Virginia Federa- tion of Labor, sent this telegram ves- and improvements in | remarkable | | the i | ginia land the | formed | marks ($900), 8, 1914, Gompers, head Ame Federation of Labor: s a tribute to the memory of the Jate Mrs, Woodrow Wilson, the Vir- Federation of Labor pledges moral and financial assistance to the nation-wide movement by the Ameri- an Federation of Labor, having or its object the cleaning out of the <lums and better housing conditions,” Mr. Gompers said the Federation had encouraged such move- and they would supported with renewed interest be ! FRENCH AMBASSADOR orl FORCED TO PAY $900 | Jules Cambon Held Up By German Major While on Way From Berlin to Copenhagen. Paris, French while Aug, 8.—Jules Cambon, ambassador to Germany, his way from. Berlin on to i Copenhagen yesterday was stopped at with | g nearer and better served communities | g ation inside the German frontier, cording to official reports, and in- Ly the major accompanying that he could not continue his unless he paid over 3,600 him journey did him, The ambassador said he much cash with ed his check on an important bank. The check was currency being insisted upon. Berlin fused ' the | not and | re- | M. Cambon then borrowed from his | enough to which travelling companions make up the amount in gold, he handed over, requiring at the same ' time the officer's word of honor that he would bhe allowed to reach the Danish frontier. This was given by the German officer. AMBULANCE CORPS SECURES BUILDING American Doctors and Nurses Will At- tend to Wounded Soldiers at Neuilly, Fran Paris, Aug. 8.—The American am- bulance corps in Paris has secured a large building in Neuilly which is to l'e transformed into a hospital to accom - modate a large number of wounded. Twelve doctors, including Dr. Joseph A..Blake of New York and twenty-four nurses have volunteered for service and $9,000 has been subscribed. The women’s fuxiliary of the American Ambulance is rapidly growing in num- bers. Nearly $4,000 has heen sub- schibed to it. The organizers of the French Red Cross have received offers of hundreds of private houses for use as hospitals, committee of the Comedie ! Francaise has applied to the minister of public instruction for permisston to use the theater as a hospital as in 1870, A movement was started today to ask the Paris city council to change the name of one of the Boulevards to Boulevard des Belges 1n honor of the heroic defenders of Liege. | ) —ESTABLISHED 1886 Globe Clothing House Hart, Schaffner & Marx Clothes ARE : THE BEST CLOTHES MADE and a Sale like this gives you many dollars exira values. This Week we have a | Sale of Oxfords and - Low Shoes Ladies’, Men’s and Children’s - at Reduced Prices. SHIRT SALE Continues This Week. Reliable Sales are stronger. than ever, and we have been at it 28 years at one location. Picture of Gre2 7 + Battle in the World’s First Spectacular War Among the Clouds This picture depicts an aerial conflict between a German dirigible and a French aeroplane during a fight in the air between fleets of those two warring countries. For the first time in the world's his- tory men are killing each other among the clouds. Itisa spectacle of horror, a riot of ruin, a carnival of death in midair. Special discount of $25 on every lot on Belvidere Manor during this sale. 10 speciat leaders, five of which carry a $30 discount and five a special $35 discount during this sale only. ) CENT. SPECIAL DISCOUNT. To let those people in on the GROUND FLOOR, who find it inconvenient to pay cash, we extend a special discount of 10 per cent. off purchase price on any LINE AND COST OF CONSTRUCTION. THIS IS THE IDEAL LOCATION FOR YOUR HOME. d all day Sunday. 10 PER lot on Belvidere Manor, to those who pay $100 down during this s; THESE LOTS ALL RESTRICTED BOTH AS TO OWNERSHIP, BUILDING See this development at once, IT WILL APPEAL TO YOU. Salesmen on property Saturday afternoons an BODWELIL, LLAND CO., SPECIAL 30 DAY SALE OE SELECTED HOME SITES BELVIDERE MANOR AND BELVIDERE pecial sale. NATIONAL 2N $100 DOWN, BANK BLDG.