The Washington times., 1914-10-25
IN LOCAL FINANCIAL CIRCLES

, Chicago has averaged between A0.00i
and 1900 hides week. but during the
last week 25O,O00 hides were sold in that
| market.
For the first time within sixteen years
the meat packers in the Chicago stock
yards have been working night and day
| in their canned meat and hides depart
ments in an effort to fill war orders.
At one of the large packing establish
mentS alone 3,00O extra men have been
put to work within the last week.
Factories Work Overtime.
Milwaukee tanneries are working dou-
BILE forces to fill an order for leather to
be use< in the mapufacture of 1900, 600
pairs of shoes for the allied armies
These war orders have come at very
opportune time for the shoe manufac-
turers, since the domestic trade is far
below normal. 1t is estimated by the
shoe men that the industry is now
working at less than 65 per cent of
normal.
One of the largest orders reported as
placed in America is accredited to the
Bethlehem Steel Works. and is said to
call for 800 six-inch field guns for the
ing to the report, will cost between
$4,000 and $4,000, bringing the total
order up to approximately s25,O00.00O.
Dispatches from New Haven refer to
the placing with the Winchester Arms
Company of an order for 109OO0,oN
rounds of ammunition. To fill the large
order the company is running complete
double shift, both night and day.
NFoodstuffs continue to leave American
ports in large quantities. Official figures
show the exports of sugar to England
during the first twenty DAYS of October
to have been 0S,061 $50 pounds. or double
the shipments during September.
These large shipments, however. are
confined practically exclusively to the
allied countries. Official reports based
on the commerce which passed through
the port of New York in September
show that not. dollars worth of goods
was shipped to either Germany or Aus
tria- The extent to which such a con-
dition affects Americas foreign trade
may he readily realized when it Is re-
called that in September of last year
the exports to Germany amounted to
Sc. .914, sos and those to Austria to 81, 161,-
929
While these orders and the restora-
ton of exchange on a more normal
basis point to a marked betterment OF
trade conditions, the effect of the Euro
pean war on the United States has been
very drastic. Since July s last 10 large
corporations have either passed, de-
ferred or reduced their dividends caus-
ing. il the condition continues through
out the year, an estimated income loss
to investors of sos, ,S22, 490
In London there appears to be a
growing sentiment in favor of resump-
ton of stock exchange transactions. and
many financiers believe that should
London open its great stock market
the New York exchange would soon fol-
low suit. There is still, however. a fear
that there would result a gigantic
dumping by foreign holders of AmerI
can securities in the New York mar
ket should business be resumed.
The Wall Street Journal has been
gathering data relative to the proper
ton of American securities held abroad.
Reports from ia corporations show that
S461, ,692. .56S of their outstanding stock of
Sc, ,0i6, 604, ,0S3, or 9.15 per cent, is held
across the Atlantic. Last year the
London Statist estimated Europe's In
vestment in the railroads of the United
States to he $4,000, 900 900. of which
s3 0O0, 600 900 was held in Great Britain.
The larger proportion of these hold
ings consist of bonds.