Newark evening star and Newark advertiser., 1915-08-24
FINANCIAL NOTES

The c. A. Eaton Company, of
Brockton, Mass, has received a heavy
order for shoes from the Italian gov
ernment. While the size of the order
was not stated, it is understood to
be for 100000 pairs. The contracts
have been signed and the firms fac
tories at Brockton and Augusta have
begun work on the order. The terms
of the contract call for the production
at the two factories of $1,000 pairs of
shoes per day. it being necessary to
run the factories night and day.
Tie Eaton Company, with its pres
ent day shift at the two factories, is
now turning out $780, 900 pairs of shoes
month. With the new order they
will be required to produce $4,000
pairs in the same period. The latest
contract to be awarded the Eaton
concern is the third received by the
firm. Other Brockton shoe manufac-
turing firms are looking for foreign
army orders. The Italian govern
ment purchasing commissions now In
this country will probably place ad-
ditional shoe orders with Brockton
manufacturers in the near future.
The rise of 51a points in Lacka-
wanna Steel was accompanied by re-
ports that the Lackawanna Steel
Company had placed large foreign
orders for steel rails. The informa-
ton, in fact, began to be circulated
early last week, but representatives
of the company stated that there
were no orders which had not al
ready been listed in the weekly re-
ports. According to one informant,
the order was SO large and called for
so much haste in delivery that it was
'split up" among all of the railroad
lines running from the mills to the
seaboard. Brokers generally are op-
timistic about steel orders. With in
creased demands for steel products
coming simultaneously from local and
foreign consumers, they say it will
require no artificial stimulation to i'm
prove the market.
The Hayden stockholders commit
tee has sent an expert over the Rock
Island lines, and this experts report
is not expected until October l. A
great, deal depends on this report, it
was said yesterday, and there can be
no getting together on common
ground until the expert reports just
how much cash the Rock Island sys-
tenn needs. On September 10 the
overdue interest on the debentures
must be paid. The belief is that it
will not be paid, because it has not
been earned. If crisis is to be
avoided it is believed the arrange
ments for a reorganization plan must
be effected between September 10 and
October l, when another big interest
payment falls due,
The Railway Business Association,
composed of concerns doing business
with railroads, has issued a bulletin
entitled Railway Mail Pay and Pub
lie Opinion" in which business men
are urged to ask Congress to estab-
lish what Is called a more systematic
and businesslike method of paying
railroads for carrying mail. The bull
letin asserts that the postoffice re-
ceipts have increased 1905 per cent,
in the past ten years, while the
amount paid to the railroads for car
rying the mail has increased only
277 per cent.
The association contends that the
postmaster general, being interested
in showing a surplus for his depart
ment, should not fix the rates of pay
ment for the railroads; asks that
weight rather than space be the
measure of service; asks that the gov
ernment give the same terms 1t forces
for the private shipper, and that pay
ment take into consideration length OF
haul, speed and frequency of mail
trains.
Increased production of both gold
and silver in the United States for
4 Ato Ia, 10. a
with 1918, is shown in a statement Is
sued by Director of the Mint Woolley.
The gold output was 4,572,976 fine
ounces, valued at s94, ,531 800, and sill
yer, 72,455, 100 fine ounces, the COM
mercial value of which was S40067,-
700. Gold produced was greater by
50, ,647 400 than in 1918 and silver was
greater by 1858 600 fine ounces, or $3,-
1926, 400.
Production increased in Colorado
81, 1872, 700; Alaska, 81, 345, 300; Califor-
MIA, $1,010,60O and Montana, 1922, 700.
Idaho showed the largest gain in
silver with 3,096,700 fine ounces, valued
at 81, 712, 500.
+. Larger harvests of cereals than last
year are forecast for the world S
principal producing countries by the
International Institute of Agriculture
at Rome, which has reported to the
department of agriculture.
Rye production in Spain, Ireland,
Italy European Russia, Switzerland
and the United States this year ag-
gregates 1,029 100000 bushels, an in
crease of 1877 per cent. over 1914.
Oats production in those countries
and England, Scotland and Tunis
aggregates 2,643, 100000 bushels, an In
crease of PAL per cent.
Barley production In those nations
and Japan aggregates 7000,0 900 bush
els. an increase of 10 per cent.
Wheat production in the ten coun-
tries named and India and the win
ter wheat of Canada aggregate 2,583,-
100000 bushels, an increase of 17.9 per
cent.