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Newspaper
Washington Post
Location
Washington, Washington Dc, United States of America
Date
Aug 01, 1914
Page
1
World securities markets halt trading as Europe heads toward war. New York's vast exchange faces unprecedented shutdown with four firm assignments on cotton and brokerage houses. Banks say conditions remain sound, while the decision to stay closed hinges on international turmoil.
World exchanges from New York to London suspend trading amid a broad market panic. Four New York firm failures are reported, with cotton firms among them. The Bank of England raises its discount rate to defend gold reserves as gold withdrawals surge. London avoids 150 anticipated failures by closing the exchange. America's stock depreciation runs into millions as New York Cotton Exchange activity halts after sharp losses.
Paris July 1 Jean Jaures Socialist leader was assassinated during a dinner near the Bourse. The gunman, Raoul Villain 29, son of a Rheims civil court clerk, was captured and confessed he acted to punish what he called traitorous support of a three year military law. The interior minister ordered precautions as crowds gathered outside the restaurant.
In New Haven on July 31 Mrs Jessie Wakefield of Middleburg was convicted of second degree murder for taking part in the Cheshire killing of her husband William O Wakefield on June 33, 1913. She was sentenced today to life in State prison.
The State Department orders American ambassadors and ministers abroad kept at posts to report Americans killed injured or distressed. Ambassadors Page and Gerard remain in England and Germany respectively. Herrick Paris will stay until successor Sharp arrives. Willard in Madrid plans to depart. Marye to St Petersburg once passage is arranged. Military attaches to provide current intelligence. no new observers sent now. Correction notes Atlantic City excursion time.
The President and administration rushed to avert financial danger from the European war. A $500 million emergency currency issue was approved for national banks and the Federal Reserve Board's completion accelerated. Warburg agreed to testify, and a successor to Jones was named for Senate consideration. CONTINUED ON FIFTH PAGE.
In New York July 31, German and American lines suspend sailings to Europe due to the international situation. Vessels including President Grant and Grosser Kurstverst are held in port at Hamburg and Bremen. Passengers, tourists, and officials rush to rearrange plans and hotel stays as ships remain in port awaiting further notice.
Russia orders mobilization of four million men while Austria mobilizes all land and naval forces. Germany declares a state of war and threatens punitive action if no peace. Ultimatums to Russia and France circulate as England and France push to avert confrontation amid widespread travel suspensions. Belgium mobilizes. Finland proclaims martial law. Danish frontier sealed. Penfield in Vienna warns of growing seriousness.
Armour & Co intervened on settlement day at the Chicago Board of Trade to prevent a market collapse. George E. Marcy organized open trades transfer and ordered 2,000,000 bushels of wheat plus 4,000,000 bushels each of corn and oats sold to steady prices, saving the wheat trade from panic and stabilizing rail and market effects.
Henry Spencer, executed by hanging in Wheaton jail, confessed to multiple unsolved murders after killing Mrs Mildred Rexroat, a dancing teacher, ten months prior. He lured her for a supposed professional engagement, shot her, and left the body on a railroad track. Bart and James Cantrell, brothers, hanged in Gainesville for the murder of Arthur Hawkins, amid appeals to Governor Slaton that were denied. Mrs Hawkins implicated in instigating the crime.
Kaiser’s fleet blocks ships as telegraph and train lines cut communications across Europe. German troops push toward the Danish frontier while activity near French soil spurs Republican outposts. England watches war as inevitable yet risks faint hope from Vienna and St. Petersburg negotiations. German ambassador poised to leave Paris as Finland endures martial law.
In Berlin Kaiser Wilhelm II declares a fateful hour for Germany and vows to wield the sword if opponents refuse peace. He calls for a Reichstag vote on war credits as Russia and Austria mobilize and Europe edges toward a general conflict. London dispatch notes Britain and France pushing peace efforts while mobilization spreads. Finland placed under martial law as tensions rise.
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