The Washington times., 1915-10-31
WEEK IN FINANCIAL CIRCLES

A heavy inflow Of funds in anticipa-
tlon of the call for the first Install
ment Of II per cent. payable on or be-
fore November 10, on subscriptions To
the sJ00.OO0.0O0 Anglo-Freuch loan sent
sterling exchange UP cents pound
during the week. strengthened Conti-
mental units of exchange. and erased.
for the time being. at least. tho only
serious cloud from the horizon OF the
American usiness world.
That the Improvement which has been
noted in commercial and financial con-
ditions OF the country for several
months is steadily progressing and has
at present become nation wide, Is gem
orally conceded. In commenting on the
business outlook. Duns Review a few
days ago said that not only is there
no step backward In general business,
but each week the pendulum Of prog
ress swings over n wider area and con-
ftdcnce Is further strengthened.
While the talk OF peace, which at
tracted much attention during the past
week. is generally regarded as rather
premature. the American public Is com
Ing to realize more fully the import OF
the inevitable termination OF the great
world war. This fast was prominently
reflected through the weekend trend
of stock speculation.
Thre was no material weakening OF
those securities which have come TO be
looked upon as war specialties. but
there was very marked su engineering
in the issues OF Industries which pro-
duCc materials that so to replace the
destruction Of war.
When peace is concluded Europe will
he in the market for vast quantities Of
Supplies with which to rebuild the de-
moliShed towns and VILLAGES and to re-
place the implements OF husband1y.
The steel and copper trades will reap
benefit when this demand Is to be met.
and farseeing spccuiators are now
| hi MI NhA
called explosives" 10 the steels. cop
Each week brings "a wider and more
inslsvent demand for steel products,
and steel prices are practically beyond
control Never IN the history Of the
industry has there been such wide
range Of prices. 1t has at leHsth come
principally one OF delivery,
starting in the east and sweeping
westward and southward, almost every
furnace has sold It's entire output many
Ilnnts which have been out of commits
sion for years and looked upon as too
far out Of date to be operated at d
proht are now being put INTO commis-
sion. The plant Of he Diumond state
| Steel Company at Wilmington, Del.
which has been idle for eleven years Ia
being repaired and Is expected to begin
operations within ninety days on al
| order for 5000 tons of rounds for Great
| Britain.
Much of the curly demand upon the
| steel mills was made by munition man
| Inition manufacturers At present q
| lrrge per centagc of the orders are 70:
| domestic purposes, the principal con
tracts cor,'rg from the railroads.
Last night the Baltimore and Ohio
| announced that T. had placed a con,
tract for thirty locomotives and 200
additional freight cars, the total cost
for which will he approximately SOO0
900.
Rail contracts were especially heavy
the last week, including lh,N0 tons FOL
the Pennsylvania system hhad lo,oo'
tons more for export. Other orders
were placed by tho Boston and Maine
Maine Central. Missouri. Kansas anc
Texas and the Chesapeake and Ohio.
Gar builders placed contracts fol
2tO 900 tons of bars. plates, shapes ant
! axies and received orders for p 900 cars
Including 1000 more for the Now York
Central. $500 ror Russia. 2,350 for the
Jersey Central. 100 for the Louisville