Financial relief halts gold outflow and stabilizes New York banks
New York August 3 The financial position improves as comprehensive measures take hold. Clearing house certificates issued for bank settlements reach about 20 million dollars while large gold outflow to Europe appears halted. Banks extend deposits withdrawals pause, stock brokers anticipate long inactivity as markets reopen weeks hence.
MENTIONED IN THIS ARTICLE
Savings and Stata Banke
Tima Loans
Hanks
New York
allLuziung
New York State
Earopa
Anancial
Wall Street
Tne
Learing House
Raual
President Urges Calm Amid Europe's Storm for Aid to Mankind
President appeals to Americans to stay calm during the European crisis. He says the United States must help the world, warns against unfounded rumors, and vows readiness to stabilize finances. A neutrality proclamation may follow. Congress not necessarily in session. He praises bankers and business leaders for cooperation.
MENTIONED IN THIS ARTICLE
Europe
United States
Holland
America
Avery
State Department
Congress
White House
Washington
Private banking trousse canceled amid exports to Canada
Private banking deals included a 500000 dollar export engagement to Canada, with another 1000000 dollar deal today for the Donashion, lifting midweek totals to about 6000000 dollars. Chicago and other cities adopt clearing house certificates as New York leads, amid foreign situation strains.
MENTIONED IN THIS ARTICLE
Sutfiow
Canada
Chicago
New York
Clearing House Association Today
McAdoo
James B. Forgan
First National Bank
Warburg Seen Likely for Federal Reserve Board Nomination
Still prevailing impression is that Warburg will be confirmed to the Federal reserve board. Two committee members oppose him, Senators Bristow and Nelson, due to Kuhn Loeb ties. Warburg, in Washington, has discussed policy with Treasury officials as hearings proceed. The President awaits word from a prospective nominee and may send the nomination soon if he accepts.
MENTIONED IN THIS ARTICLE
Mittee
Federal Reserve Board
Bristow
Kansas
Nelson
Minnesota
Kuhn
Mr. Warburg
Warburg
Washington
the Treasry
Mam
Paul M. Warburg
New York
Obers
Federal Reverve Board
Treasury
Thomas D. Jones
Chicago
Senate
Reserve Board
Federal Reserve Banking System
Partisan Lines Ignored as United States Debates Currency Act
In a House session on Senator Owen's bill amending the Aldrich Vreeland act to widen emergency use, MATN and Madden urged nonpartisan action. Underwood praised Republican patriotism while cautioning on European gold hoarding and the need to suspend markets to protect American credit and finances. Glass argued strong treasury reserves make the move timely and denied easing protection only for bankers.
MENTIONED IN THIS ARTICLE
St. Louis
Kansas City
Baltimore
Detroit
Boston
San Francisco
Charge Lornard
Buenos Aires
Lima
Peru
Matm
Owen
Humentty
Mann
Europe
Representative Madden
Tlinuls
Patriotian
Weman
America
Underwood
Mr. Underwoot
New York
Stock Exchange
Exchange
Ptay
Glags
Ibanking and Currency Committee
United States
Murdock
Kansas
Glass
Mrs Ollie James in Russia Seeks Aid for Washingtonians Abroad
Senator Olie James of Kentucky asks U S government to assist his wife in Moscow and extend aid to Washingtonians in Europe. State Department instructs consuls to provide every possible help. Names of residents abroad include Hough in Hamburg Gallager in Carlabed Erdinger Letterm an in Marienbad Letterman in Molly France Haupt in France Clapp in Germany and Noel Symons in Partenkerchen Bavaria.
MENTIONED IN THIS ARTICLE
Europe
Russia
Olie James
Kentucky
Moscow
State Department
James
Austria
Mre Herriet Helm Erdinger
Marienbad
Misa Madeline Letterman
Katharine Letterman
Molly
France
Misa Haupt
Henry M. Clapp
Germany
Noel Symons
Partenkerchen
Baveria
Instructiona
Senate passes peace resolution urging European truce
At Senator Gailinger's urging the Senate adopted a resolution dedicating itself to peace and goodwill, deploring war among European powers and hoping differences are quickly settled to prevent further destruction and waste of property.
MENTIONED IN THIS ARTICLE
Senate
Gailinger
Formsrly
Senate of
The
United States
Banking Calm as Money Flows Under New Reserve Plan
Banks nationwide prepare to issue notes under Aldrich-Vreeland rules with up to 1% of capital and surplus. About 900 million plus 25 percent ready as basis, 5 percent reserve required, distribution across regions, and rapid engraving of new notes underway. Treasury, Warburg nominee, and Federal Reserve setup pace accelerate as gold outflow stops and trade possibilities normalize.
MENTIONED IN THIS ARTICLE
Houe
Senate
Federal Reserve System
Isaue
Aldrich-Vreeland
Eaders
Desring House
New York
House
Belligerent Can Cut Cables On Jurisdictional Lines
Officials note cables linking the United States and Europe fall under European control within the three mile limit. On reaching that shore, belligerents could cut the cables at the terminal’s government discretion, despite private ownership and international penalties.
MENTIONED IN THIS ARTICLE
United States
Europe
Post Office Suspends Parcel Post to France and Germany
Postmaster General Burleson announced that Egypt requested halting money orders. He instructed nationwide postmasters to refuse parcel post mail to France or Germany until further notice after official suspensions from those countries. The move halts mailing of parcels to the two European nations.
MENTIONED IN THIS ARTICLE
France
Germany
Burleson
Egypt
United States
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Ratief
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Rockinehair Union
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A. Lisner
Bureau of Engraving
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Pantoa J. Wade
St Louis Clearing House Association
Wade
J.as. Pickford
Mary Pickford
Today
Web
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Famous Players
Colonial Beach
ST. Johns Lettes
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Oversea
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