The Washington times., 1915-05-02
WEEK IN FINANCIAL CIRCLES

The continued inpouring Of gigantic
orders for general supplies and NUM-
tions Of war from European and other
foreign sources. coupled with the op-
tlmistic utterances from the heads OF
large corporations and Govern
mental authorities to the effect that
the United States stands on the
threshold of unprecedented prosperity.
are gradually inducing the people of
the nation at large to take this view
and put into the channels of commerce
and business money that has long been
held tightly.
An evidence of the development of
this sentiment Is found in the activ-
ity that prevailed upon the New Iork
stock market during the past month.
Transactions in stocks on the New
York stock exchange in April aggre-
gated 2l,645.532 shares, which was a
total in excess of the combined trad
ing of the first three months OF the
year and the largest total for any
month since January. 1910, when deal
ings amounted to "A, 1864 shares. Com.
pared with March. last months total
showed an increase of 13,9o7l4o shares
Making Investments.
Many arc prone to look upon stock
trading as speculation, but that much
of this buying was by individuals who
were simply making investments Is
evidenced by the fact that the bond
business was proportonately great.
The/ total bond trading for the month
was 81 0a9, 900, tho heaviest In any
month since January, 1912. when the
total was sll2.S32.G3o.
M,!ch publicity has been given TO
the reported war orders whtch nave
been accredited to various American
that almost staggered. And the fact
that but comparatively few loans
have been made to foreign countries
by American banking interests and
shipments Of gold to this country
have not been unusually large mas
caused many Go discount the size or
the rumored orders.
A dispatch from London few days
ago in discreditirg rum"rs that the
Bank of Franc" was preparing TO
make shipments Of sold to london
that in London II was contcnded that
such a condition would not arise as
negotiations had been practically COM
pleted for the eStablishment OF =
credit of something like $50. 900. 900
In New YORK on hehalf of tho allies.
Further Large Orders.
During the week financial Ccnters
have been rife with reports of fur
ther large orde7s-contracts not only
for munitions. but for such supplies
as railroad cars ard track materials.
The Pressed steel Car Company, it
Is said, is negotiating for the sale OF
$4,000, 900 worth Of cars and track
laying steel to the Russian govern
ment.
Guy f.. Trip. chairman Of the west
inghouSe Electric and Manufacturing
Company. confirmed Friday report
that his company had received an
ether large order from foreign
details. 1t is said that the order EN-
braces l.oCo,oo rifles for the allied
armies, to cost about s2s, 100000. and
the company is negotiating for an
@ther oIdSr Of Tornsn sImiIer size; Said tx n
have on hand. or In sight. war orders
totaling s6O.000.o00,
The American public has grown &C
customed to reading Of war contracts FOR
European bclllgcrents that run high
into the millions. but only few days
ago New York received intimations that
China has awakened suddenly INTO mil =
tary activity and Is seeking siege guns.
field pieces. small arms and ammunition
In the American market.
Agents Come Here.
China maintains arsenals at Canton
Shanghai and in other provinces for re-
ceiving and assembling arms and manu-
featured shells. but in the past the re,
pubic mas been accustomed 10 lndhe S"'h
purchases in Belgium and Germany
Those markets are now closed and 1t is
said that her agents haV" come tC
America. An order for 1000 pounds OF
sInokeless powder is said to have already
been placed. The powder is to be used
in tests. and, if found to be suitable foI
the purposes Of the government, Other
orders are pending.
The artillery sought, it was asserted
Is Of the type OF tho 75-millimetrc French
guns and the l20-millimctre Austrian
guns.
Much OF the business now coming "a
the United States is recognized to bC OF
q temporary nature-busincss that VIII
terminate with the cessation of hostil'
U1iAs. But that the counry has before