New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1915-05-01
WAR ORDERS SEND
WESTINGHOUSE UP
Stock Scores Another Big
Gain-Other Concerns
Share Business.

Accompanying official confirmation OF
reports that the Westinghouse Electric
and Manufacturing Company had
booked large war orders from the
Allies. the stock, which had been 'd-
vancne steadily for the last few weeks
yesterday crossed par, and in the days
trading on the stock Exchange touched
l0S. the highest price since the IeoL-
ganization of the company IN lso' 4.
The volume of trading surpassed
any of The other listed issues, beng
in excess Of 100000 shares. The clos
ing quotation was l06, 9 points above
Thursday.
Guy +. Tripp, chairman of the board
of directors, admitted the closing OF
war contracts. but declined to discuss
details. lie said
1--WE received Thursday a large order
for foreign government, the details
of which arc now being worked out. |
can say nothing further at this time:
In responsible quarters, however, "
was declared that the order just signed
was for 100000 rifles, at $500 q
rifle, making a gross amount OF over
S40O00,O 900. Another contract OF a like
character almost closed calls for a
similar number Of rifles at the same
price. The two together call for total
expenditure of more than s55,OOO,OOO
by the purchasers, understood to be
France and Great Britain.
Several weeks ago 10 was reported
that the Westinghouse company had
obtained a s5,O00,OOO order for shrap-
mel from one Of the allied nations at
war. In connection with the orders for
rifles il was stated that none will be
filled at the company's own plants. but
the work will be done in shops secured
with that object in view.
Among other war stocks which have
been singled out for big advances on
the exchange recently is the Pressed
Steel Car Company. While yesterdays
gains were relatively small, it was an
nounced from the company's Offices
that negotiations were under way with
the Russian government for an order
for 10000 cars, to cost approximately
s10,0O0,000. 1t was denied that the
company is in the market to supply
war munitions.
In addition to Westinghouse the
equipment stocks that scored heavy
advances yesterday were American
Locomotive. American Steel Foundry,
Baldwin Locomotive, Lackawanna Steel,
New York Air Brake, Railway Steel
Spring and Studebaker.
It was learned definitely yesterday
that the contract made by the Ameri-
can Locomotive Company to furnish
the Russian government with $65,000,-
GOO worth of shrapnel and other ex-
plosive shells has finally been signed.
Fifty per cent of the order goes to the
locomotive company and the other so
per cent is divided equally between the
New York Air Brake Company and the
Westinghouse Air Brake Company.
William b. Joyce, president of the
National Surety Company, says that
the bonding of war contracts by his
concern since the war begun has
reached the enormous total of $780,
100000. Based on the business his
company is doing, and assuming that
other surety corporations are also
doing a large business of this char
acter. Mr.. joyce estimates that ex-
penditures by the warning nations Of
Europe in this country have already
reached the staggering amount of
81 500 100000. Including bonding APP
plications from irresponsible parties
and spectators, he thinks this figure
may run as high as s3,000,00O,00O or
$4,000 100000.