The Washington times., 1915-12-05
EVENTS OF VEEEIN
FINANCIAL CIRCLES

Beck exchanges this week told the
tale Nof prosperity in business lines n
~ effective fashion as anything that has
appeared since the railroads became
congested with freight. The total
amount OF checks drawn and passed
through the eountry's clearing house
was close TO the 5000. .0O0.0D0 mark. beinR
In exact figures A.0o6. .OO0. 900. accordina
70 the records Of the Financial Chroni.
Gle. There never was week Ike that
ing week last year the increase was
fully 80 per cent.
New Yofk's ciSarIngs were practically
100 per cent greater than in the same
ceptional factors contributed 20 this re-
markable showing.
In the first place. certain local banks
were the recipients Of funds from sub
gcribers to the $500 1909. 900 Angio-Frencb
loan. which probably figures IN the
drawing OF checks up to several millions
Of dollars. Again. the weeks business
was swelled by transactions on the stock
exchange. whereas year ago the ex,
change was closed except for restrtcted
trading In bonds.
Gross earnings OF railroads for the
first three weeks In November as 50 FAR
reported to Dun's amount to f28 8o6l.es6,
an Increase Of 1hb per cent over the
Ss sSTss % Rsr0d aSt c.CSs yssT ,sSs ,aSS, Sss
ported an increase of 8 per cent IN
gross. and for the first three weeks in
September the gain was L8 per cent. In
Syatem in the South, notably southern.
Chesapeake and Ohio, Louisville and
Nashvtlle, Mobile and Ohio, and West
eFn Maryland, makes very sahsfse-
cry that has taken place Of late In gen
eral business throughout that section.
In the West and Southwest, however.
contsactSoH. CON m but the loss @ Is iSISls FAR more more
than Offset by the gains on Missouri Pa
cihc, Colorado and Southern. Denver
and Rio 0rande. Texas and Pacific, and
other leading Hines, which indicate gen
orally prosperous conditions among the
railroads in that part Of the country.
The last signs OF the late depression
situation. Every tagging industry IL
coming up into line, and all of the coon-
try's activities and productive forces
will soon be In full motion. Confldence
in the future has replaced the timIdIty
engendered by the great war, and pri-
vate enterprise IL again busy with the
thousands OF local projects which rep
Rressive country like the United States.
Large new undertakings have not yet
| appeared. and are not wanted at this
stage. for just now there is enough In
sight for everybody to do.
The manufacture of lumber and of
railway equipment are two industries
that have been particularly depressed
| and hopeless. Everywhere but in the
Pacific Northwest the former has un.
J dergone very rapid change in the last
month. Notwithstanding the scarcity
Of shipping and high rates, the export
trade has been large. the italian
government alone having como into
the market for 40.0O0.OoO feet OF
lumber for winter shelter for itl
army. The foreign sales would oe
much larger II cargo space could
be had. The demand for yellow
pine for general building purposes N
the middle West, where great pros
perity prevails throughout the rural
Texas. LcniaianS. Arkansas. ana Mis-.
sissippi upon full time. and In sonlo in
| stances double time. and relieved the
South Atlantic States OF their competi-
ton. Thr0ughout the East the demand
In the busy industrial towns and for
general purposes has become very
active. Prices have been moving rap
idly back to normal figures. The Pacific
coast mills, unfortunately, are prevent
ed from participating in the Atlantic
coast business by the closing OF the
with the Northern and Southern mills
IN the, improved conditions west Of the
Mississippi.
The railway equipment concerns have
taken large amount Of munitions orders
but have also reBervedtmportanG railway
orders from Russia and France. and
within the last month the home roads.
with increased earnings in sight, have
turned loose q large volume of bust
l meas. The general condition Of the in-
dustTy Is indicated by the fact that the
Pennsyivanie railroad has declined AL
postpone their purchase.
1