The Washington times., 1915-07-25

Several factors interfered during the
past week to check American business
from responding as fully as might have
been expected to domestic develop
ments.
The German situation. which has
hung like a cloud over the country for
months. again assumed an acute aspect
In the face OF the dispatching Of Presi-
dent Wilson'S third note to the I'M
perial German government.
Coupled with this disturbing infiu-
ence came the threatened strikes In the
few days gave promise of a nation
wide tie-up in the country's largest
manufacturing establishments and
transportation systems.
With the close of the week, however.
the business horizon had cleared con-
siderably. The contents OF the reply to
Germany had been disclosed and an
echo of approval Of the tone In which
the document had been couched swept
over the country which. II editorial
comment sounds true public senti-
ment. was raised by the voice Of a
united American people. Big business
admired the cleverness with which the
President had drawn his answer, and.
while finding It retracted nothing from
the former stands taken by the United
States. felt that It would meet with a
favorable reception in Berlin and re-
suit in the near future in a solution Of
the differences between the nations.
The strike agitation did not develop
into so serious an affair as first appear
ances pointed to. and Is now being IRON
ed out
To offset these depressing influences
the country found sources of satisfac-
tion In it's improved crop conditions. and
the steadily increasing activity in its
great industries Of which the steel trade
More favorable weather has done
much to improve the outlook for the
large yield because Of record acreage.
was recognized 10 be backward.
Yesterday there were predictions that
the earnings Of the United States Steel
Corporation for the quarter to be an
nounced next Tuesday would approxi--
mate $37, 900, 900. This Is far in excess Of
previous estimates. and probably will
not he reached, but that the corporation
is finding a steadily broadening market
Is evident to students of trade.
The growing prosperity in the steel
business, however, Is not confined alone
to the Steel Corporation. Directors Of
the Cambria Steel Company few days
ago authorized the payment Of the divi-
dend for the forthcoming Quarter In
$780, 500, whereas the dividends for the
three previous quarters had been paid in
interest bearing script.
The half-yearly report issued by the
Republic Iron and Steel Company Is
probably an even better demonstration
of the manner In which the tide has
turned in the steel industry.
Though prices in that period were d
Ing months OF 1914. the earnings were
So per cent In excess of last year.
Total profits for the six months were
s1,sOo,053. against $l,32l. .s3l last. while
net profit applicable to dividends was
H,oo7,5o4. against $4oe.s72 at the end OF
last year,
The Iron Age, in its issue Of few
days ago. said that 1t Is estimated that
more than 100000 tons Of steel for muni-
of much Of 1t depending on deliveries.
Russia, which has already placed orders
with American companies for 10000
tons Of rails, is said to be still In this
have placed 1t,00O ton order with a
Western company. and steel contracts
from car companies have been a factor
In all districts recently.
Chicago reports that 5000 cars are
being considered by the Union Pacific.
and 5000 by the New York Central.
Early In the week the Baltimore and
Ohio closed for 1000 freight cars and
fifty passenger cars: Improvement In
the structural situation in the East Is
reflected by inquiries for 35 900 tons for
subways in immediate prospect and a
similar tonnage for general work In
active projects.
q haa heAp said much ~ -