The Birmingham age-herald., 1915-08-20
REMARKABLE CARE ,.I|S NECESSARY IN !! MAKING SHRAPNEL Few Concerns Able to Exc cute Orders Taken in This Country DANGER IN TASTY
 { STOCK SPECULATION Many Concerns Getting Big Contracts Had to Make Enormous Out lays in Order to Care
 for Them
By HOLLAND

New York, August 1e-(Special.) ] Charles M. schwab sent to friend in New York few days ago one of the larger types of shrapnel, presumably of kind nanufactured by the corporation witll which he is prominently identified. An examination of this enormous missile does not fail to suggest some features asso- ciated with the American manufactured punitions of war which it might be well Tor those who are disposed to make in- vestment in what are called war-ordei securities or the securities of corpora uons which are now occupied in the man. ufacture of munitions of war to look into before they venture into the market either for the purchase or sale of these securi- ,ties.
 MFor some of the American manufactur- CTS have recently made it clear that they have no knowledge of all that is required to manufacture these implements of war. Some of those who are intrusted with the responsibility of placing war orders are now and then in receipt of letters from manufacturers who offer to make some times as many as a million shrapnel in a very short time. Investigation shows that these manufacturers have neither the plants nor the organizations and cer- tainly not the experience which are needed if shrapnel and other war muni- tions are manufactured satisfactorily.
 The specimen which MT. Swab presented to a friend In New York is about two and half feet long. The lower end com sists of the canister or cartridge holder. It Is shell manufactured according to o tai in nd ft,c Tn h., cannon after the shrapnel proper is dis charged. There are only a few manufac- turers in the United States who are able to make this canister. If the war be continued for many months and orders for this deadly missile are constantly re- ceived then skilled artisans in consider |. able numbers may be able to manufacture this part of the entire shrapnel.
 The middle section consists of the shell proper, which is a steel cylinder. and there are no doubt good many manufac- turers in the United States who could make this. At the tip of the shell is placed the fuse, an apparatus whose outer sur face is copper or what appears to be cop Der. The internal works, however, are as delicate as those of watch, and to Manufacture these fuses entails long ex- perlence, great skill and very delicate ad- justment. When the war in Europe began there were only perhaps three or four skilled artisans in the United States who could make them. The number is now in creased. As a whole this implement is a marvellous example of technical skill and of scientific knowledge.
 Nevertheless, if all the appeals which have come from manufacturers were to be needed, then a good many would now be engaged in attempting to make these inn plements. There Is another point of view. Great Britain has in the United States now not more than eight inspectors 1t would be physical impossibility for these inspectors thoroughly to make inspection of all the shrapnel which manufacturers have offered to make, at least until months have passed.
 -,c When Contracts Are. Placed
 It has been vital. if thej requirements of sthe belligerent nations are satisfac- torily met by American manufacturers, that as far as possible contracts be placed with those who possess the plants, the organizations and the experience nec- essary. and that explains why he has received so many and so large contracts. This is also true of the corporations which me nufa cture powder or explosives. The manufacturers of rifles and like im- clements possess the plants, the organ izetion and the experience which are hefdful. That Is also true of the man. ufacturers of machinery and tools. But there are some organizations which if they undertake to execute war orders course, in placing war orders 1t has been do this with organizations which possess