view raw text
I GENERAL NEWS NOTES OF THE DAY. A warning to American bankers and indirectly to private investors against tying up their funds I by investing too heavily in foreign loans in the shape of treasury notes was sounded by the federal reserve board in an offfieial statement issued Monday. While disclaiming "any intention of reflecting upon the financial stability of any nation," the board advises all investors to proceed with caution, and formally announced that, the liquid funds which should be available to American merchants, manufacturers, and farmers is in danger of being absorbed for other purposes, it "does not regard it in the interest of the country at this time that they invest in foreign treasury bills of this character." The most critical week in the history of Rou-mania lias opened, says a dispatch from London. Nothing short of a miraculous reversal in form can save Bucharest from siege within a few days, and from capture soon afterwards. Everywhere the odds favor the Teutons. Bucharest is the center of a circle of enemies, approximately fifty miles in radius, which is closing every hour. Unfortunately for Ferdinands troops, the smaller the circle the greater the concentration of guns and men by the enemy. The Austro-German forces in western Roumania are continuing with success their drive toward Bucharest, a dispatch from Berlin announces. New operations have been begun and additional ground has been gained by the invaders. The Bulgarians have captured the important Danube town of Giur-giu, on the railroad south of Bucharest. The Roumanian town of Curtea de Arges, soutli of Campu-lung, has been captured.
