Carolina watchman. [volume] (Salisbury, N.C.) 1871-1937, 1915-06-23
allies Spending MiHgl1ll America
Looks Like the euuatII lsl
Into a Great Supt s'

In the past thres wee oQQs
, OOO gold has been sent til'
Bark of England's Ottawa re-
sea vss to J. P. MorgaIF + Go
Great Britain's co (srcis
agents in the United So !, fo1
the express purpose of pa & fo1
war muuitions purchases = th'
United States. This gold hai
been deposited at the Sub Treas
ury, and With the Sub.Treasury''
receipts for the value Of shat gold
credits have been esta bIished q,
various New York banks, agains,
which checks ere how being drawn
in payment for supplies furnished
the alhes.
The method of payment follow.
ed by the Morgan Arm and other
agents who are aotiag for foreigo
governments in this country has
been q source of growing IL quiry {.
knowledge that checks have been
drawn for imme 1iate payment on
the full value of numerous con-
signmeats already sent forward
has gwen rise to q great deal Of
conjecture 1t ls recognised for
instance, that companies which
accepted large war orders and
have accordingly hsd to txteLd
their plants have received ad-
vances to finance their extensions,
aud 30 the double question has
been raised az to the manner in
which preliminary payments are
being made, aud as to the manner
Vt ultimate payment when the
huge orders now being worked up.
on begin to 90 foi ward in the au.
tumn.
To the last half of this ques
tion there is no present answer,
payment for the hundreds of mil.
lions worth Of munitions will be
arranged according TO conditions
prevailing when payment is due.
But as to the manner in whlch
preliminary payments are being
made, in 30 many cssss, to snable
| manufacturers to sarn sut the
material they have accepted con.
tracts for, there is available now
at least a partial answer. Out :
right advances ranging ell the
way fro m 10 to rs per cent. of the
value of sn order have been made
to companies whch have under.
taken the manufacture of guns,
shells, rlh4s, cartridges. aero .
planes. motors and other supplies.
One company, which just before
the war had capacity for limit.
I'd output of flying machines, at a
price Of $500 per machine, has
recei red an advance of practically
s5. 600 per machine contracted for
by the allies, in order that it may
not lose q moment in extending
it's plant and undertaking the
manufacture of the equipments de.
sired. When the aeroplanes are
turned over to the foreign agents,
an additional payment of $4,000
will be made On each machine
So it is seen that in this single
case an advance of nearly two
thirds of the full purchase prlce
has been made.
The following table is given tc
show approximately which com.
panies have received the largest
foreign war orders, and to show
their scope. The figures repre-.
sent Wall Street estimates of the
value of orders placed for war
ma tel rial;
Bethlehem Steel -. $3.50, ,OOO. .OO(
General Electric. 80. 100, 600, ,OO(
Canadian Car 4 Foundry
100000
Westinghouse Electric 80 OOO, ,OO(
Du Pont Powder. ......75. 900, ,00(
American Car & Foundry
4o.ooo,oo(
American Locomotive B5,0cO,OO(
Pressed Steel Car ~. 25.00O,OO(
Aetna Explosives .. 10000, ,OO(
Colts Firearms. ~. .... 2O.OCO,OO(
Crucibls Stsel. $1,000, ,OO(
E W. Bllss So. 20. .0OO, ,OO(
Studebaker Corporation 20, ,OOO, ,OO(
New York Air Brake. =. II, ,OOO, ,OO(
American Can. .... Is. 600 .OO(
Baldwin Locomotive. $4,000. .O0(
Savage Arms ..... 0,OOO. 90!
Winchester Arms -. 1000, coz
Of the nineteen companies il
the above list, only seven have ,
capitalization that is$ greater il
amount than the war orders the,