The Washington times., 1914-09-20
IN LOCAL FINANCIAL CIRCLES

| The careful cooperation between Gov
ernment. financial and commercial in
terests Of this country since the shat
terinp of the worlds credit system by
| the great European conflict is beginning
now to- evolve trade mediums that are
already yielding material results.
/ The Federal Marine War Risk In
surance Bureau has established rates
at which American hulls and carsoes
will he protected in transit TO foreign
markets; applications for policies
mounting far into the millions have ell
ready been filed. and many foreign butlt
ships are registering and flylnS the
Stars and stripes at their mastheads
Al the same time that these steps Tor
trans porting goods abroad were OelnS
made number of large orders or
Anne rican products have been placed Iy
European countries.
This war risk insurance is not TO be
a flat rate across the Atlantic. The bu-
reau has prescribed a rate OF u per
cent for cargoes between the nlted
States. its possessions and non-belliger-
ent countries of the Western Hemls-
phere: of | per cent for carsoes ollleu
10 ports in non-beliigerent countries not
north of Havre or east of sicily, and lie
per cent to other ports.
Meanwhile, though the bureau has
been in existence less than two weeks.
applications for policies totallnS S,W",
600 on hulls an sl.5no,HS on cargoes have
been filed. Under the revised registry
laws twenty-four foreign-built ships,
with n total tonnage of 100. 500 tons. have
been registered, and customs collectors
are acting on registers for twenty
seven additional vessels. with COM
bined tonnage of 10S.36o tons.
Big Sales Abroad.
Foodsturfs, particularly the grains.
were the supplies which these ships
we're expected to bear. but the foreign
|, countries are also entering this market
for many other supplies which the clos
ing OF their factories TO furnish SOL
diers has curtailed. Pittsburgh mills
are now working overtime in an effort
TO turn out 100000 horseshoes. which
have been ordered by Russia apq
France These shoes, packed into 100
cars. with a complement of nails ana
toe pieces. are to be shipped this week
Other mills in that city are preparing
to fill a large order for Austria.
Russia has likewise been making m
quiries Of American manufacturers with
view to placing an order for 5.oV IONS
of barbed wire. This material ls used
in constructing defenses. and would
proba bly be considered by Germany and
Austria as contraband of war.
Large shipments Of wheat have been
made during the past week. and Chi
oago traders were much surprised TO
learn Friday that France had made
heavy purchase of corn. In addition
to these grain shipments. much hour
has gone out of American ports. Sew
eral days ago twenty-eight carloads ot
flour or 500 barrels. were shipped out
Of Nashville Tenn, billed for European
ports by way of New Orleans.
But the warning nations are not the
only countries which are coming to-
America for supplies. A few days ago
much excitement and unusual curiosity
was aroused on the produce exchange
of New York when two representatives
of the government Of Iceland appeared
there to purchase cargo of grain.
These visitors. coming for the first time
to market in the United States. had
chartered a large Norwegian vessel.
stocked it with fine wool and dried fish
and come to barter The announced
that they desired TO sell their cargo
and devote every penny of the proceeds
to purchas sing cereals. as their country
was sorely in need of food supplies.
Scandinavia Needs Food.
The Iceland representatives said that
Denmark. Norway. and Sweden also
were in need of foodstuffs, particularly