Washington standard. [volume] (Olympia, Wash. Territory) 1860-1921, 1915-08-27
FINANCIAL NOTES

company has secured contract for
a large ocean-going boat, calling for
5000 steel plates. This makes the
sixth ship to be built at the Cramp
yards, contracts for which were
placed in the last few months.
Texas City company, recently or
ganized with capital of $3.50, 700, is
said to plan erection of iron and steel
plant near Texas City, ore to be OBJ
tanned from eastern Texas.
Contract for construction of $780,
ton steel steamship for New York &
Cuba Mail Steamship company (the
Ward line) has been awarded to Sc
attic Construction & Dry Dock COM
pany.
Anticipating a shortage of coal
during the coming fall and winter,
the Pennsylvania railroad is taking
steps to protect itself by storing thou
sands of tons at convenient points
along the system.
Another contract for the manufac-
ture of 100000 pairs of army shoes
for the Italian government has been
received by the Fred F. Field COM
pany of Brockton.
Chicago special says most of the
contracts cancelled on wheat, esti-
mated at about 100000 bushels,
were intended for Italy. Buyers, &C
cording to leading exporter, found
prospective profits cut off by plan of
Italian government to fix maximum
prices or otherwise circumvent specu-
lation. High rate of exchange was
also another important factor. Ex-
change basis between United States
and Italy is about % per cent over
normal.
Canada will reap the greatest har-
vest in it's history. Minister of Agri-
culture Burrell stated that the wheat
Yield of the West will be close upon
100000 bushels.
At conference of bankers of cot
ton-growing states it was decided to
send men into the cotton belt to ex-
plain the bankers willingness and
preparedness to finance the cotton
crop without involving sacrifices on
the part of growers.
With sterling exchange selling
down to 4.68 y, a new low record ana
a drop of 2 cents in the pound from
closing prices Friday, belief prevails
in New York financial district that
negotiations are all but concluded
for the placing in that market of
British loan or credit ranging from
s10O,OOO,OOO to $50O,000,O00.
A dispatch from Chicago states
that the Pullman company has prac-
tically closed a contract with the
Russian government for 10000
freight cars
Considering the splendid govern
ment crop report just issued, equip
ment activity among leading rail-
roads and generally good labor con-
ditions the fall business situation
presents a very favorable aspect. Dry
Goods house business is active. with
MANY buyers in the market from the
South and West, says the John V.
Farwell company.
officers of the Japanese liner rama
ma Naru. which reached Seattle Sat
urdav night from ports in the orient
said that the Osaka Shosen haisha
had ulaced an order for SIX new
steamers of $4,000 tons each Win
the Osaka Iron works, Osaka, Japan
The vessels are to be 425 feet long
and $50 feet beam. officers OF the
panama Maru explained that some OF
those sbips will be used in the trans
nacific trade. following the rear
rangement of subsidies.
washington special says Western
railroads soon will ask Interstate
commerce commission for rehearing
of the rate case. New application
will ask for a horizontal advance, IKE
that granted to Eastern railroads IN
stead of increased rates on certain
commodities, as in the case just de-
cided.