War panic closes world stock exchanges on eve of war
France shutters mobilization measures as cabinet councils push decrees moratoriums. Britain prepares fleets and mobilizes, while censorship and rail telegraph isolation grip Europe. Banks raise rates as London market suspends trading amid naval and army readiness.
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Boston Post
France
Germany
War News for German and Slav Readers Compiled for Post by Representatives
Slavic and Austrian readers receive war summaries compiled for the post. The text urges unity and condemns oppression of Slavic nations by Austria Hungary and Germany, calling for Slavic peoples to resist, liberate, and oppose harsh rule. It mentions mobilization and political aims affecting Slav populations.
German Ambassador May Leave France
London reports the German ambassador to France signaled an early departure from Paris after a declaration to the French government.
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France
London
The
Daily Telegraph
French Cruisers Leave Vera Cruz Under Sealed Orders
Vera Cruz July 31 French cruisers Conde and Descartes test here under sealed orders. They are believed to stay in Mexican waters awaiting European developments with focus on German merchant vessels. The Spanish cruiser Emperador Carlos is the only other foreign warship at Vera Cruz.
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Mexican
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Rainbow Cancels Alaska Trip, Quarters Near British Columbia
Commander Hose of the Rainbow receives order to cancel the Bering Sea voyage and stay ready for duty around Esquimalt, Victoria, and Vancouver as Premier Robert Borden directs. The cruiser Rainbow lies in Esquimalt harbor amid Canadian preparations.
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Montenegrin Royal Yacht Near Capture Off Antavari
The Montenegrin royal yacht Deglars escaped pursuit near Antavari as Austrian blockading forces approached. The vessel fled toward Corfu while being chased by Austrian destroyers, avoiding capture.
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Athens
Greece
Deglars
Antavari
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Stop Draft Issues on Foreign Banks
War pressures halt drafts on foreign banks across Boston. Henry Po. Binney of Brown Brothers notes a near total suspension in foreign exchange business, with other firms confirming the pause in this banking service.
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Henry Po. Binney
Brown Bros
Boston
Banking Act Suspended Worries Across London Markets
Crowds gathered at the Bank of England at opening seeking gold for notes while a suspension of the banking act was debated. Premier Asquith and Lloyd George met with Bank officials and agreed suspension was not needed now but might occur if necessary. Banks may reopen Tuesday with gold withdrawals expected to surge and a potential one pound note issue to ease strain.
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Salvation Army leader urges prayers to avert war
General Bramwell Booth asks Salvation Army worldwide to pray for nations to avoid war. The Jewish Chronicle protests Britain’s involvement in aiding Russia, calling it against all nations’ interests.
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Europe
Great Britain
Bramwell Booth
Salvation Army
Russia
Asquith Reports Russian General Mobilization
Premier Asquith told the House of Commons that Russia has proclaimed general mobilization of its army and fleet and that martial law will be proclaimed in Germany with a general mobilization likely there. He declined further questions until Monday.
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