The sun. [volume] (New York [N.Y.]) 1833-1916, 1915-05-01
STOCKS JUMP AGAIN
ON new WAR ORDER
Westinghouse Co. to supply
S27.JOO.000 Worth Of
Rifles.
RIG MARGIN FOR PROFIT

The war order" fever again took
nossession OF the stock market yesterday
on the report of the signing OF a con-
tract hy the Westinghouse Electric and
Manufacturing Company for the making
OF ss7.50O.O0O worth of rifles. ordered
bv the British Government for Russia.
The rush for stocks. though ii carried
Westinghouse UP 10 points and the il.
sues OF other machin. manufacturing
companies to new high records. was. in
the opinion Of stock market observers.
not of the extreme intensity OF the
preyous wave OF similar speculation.
with the bethlehem Stccl rise incident.
The war stock" trading of yesterday
left the general market heavy and
spathetc
WE received on Thursday large
order for u foreign government the de-
tails OF which are now being worked
out" said Guy T.. Trip, chairman pf
the board OF directors of the Westiug-
house company. yesterday. II can say
nothing further at this time
Details of the order. however were
learned from other authorities in the
company The order IL for 900. O1u
rifles at SEA- each The ordinary price
for rifle Is about Sli. The gross
profit for the Westinghouse company ~
therefore estimated Mt about $4,000. 90
THIS, i was explained, does not repre-
sent the net profit of the company, a.
a large outlay for a new plant must
he deducted.
The order i was learned. was placed
through j. T. Morgan IL Co. When the
British Government authorities first APP
preached the directors OF the company
oil the matter. they replied that the
through increased price oc the rife rpr
the cost OF preparation to fill the order
including the expense Of adding to the
present plant. the leasing of her
plants, and the buying OF new ma
chinery.
The Westinghouse company has pur-
chased an entire plant for use In filling
the order and has leased others. The
order is TO be completed even though
the war comes to an end before the
rifles are ready for delivery.
There will be other big orders. 1t was
said The understanding was that "a
second order o: the same size would
soon be concluded
Sir Trevor Dawson. one OF the man
aging directors OF the Maxim-V ickers
company OF England. il In this country
10 hive direction OF the making and
me ttsllUE Oh lne Illlts.
II Is understood that all OF the work
will be done outside of the present
plants OF the company. thus leaving
IL unhampered in its ordinary business
II the company makes a net profit OF
$4,000, 900 on the first order. which is
considered conservative. IL win have
earned its present common stock iivi-
dend four times over.
The American Locomotive Company
has contracted 10 supply shrapnel and
explosives TO the amount of about 90
100000 10 the ritish-tiovernment. This
order. until yesterday. was reported as
still pending. Tine American Locomotive
Company will hll half of the order. The
other half will be divided equally be-
tween the New York Air Brake Com
pany and the Westinghouse Air Brake
Company. The order was placed by J.
!. Morgan u Co.
The Pressed Steel Car Company. Il
was said yesterday by a representative
OF An official Of the company. is nego-
uai!ng, but has not Yet completed "A
contract for $4,000. 900 OF freight cars
FOR Russia. The contract calls for 10,
zoe cars
II, \. Brown vice. president OF the
Crucible Steel Company. denied yester-
day that his company had received
SSj,o0O,o00 war order. He said. how
ever that the company had received
an order from the United States Gov
eminent for armor piercing projectiles
and gun forgngs. To take care of this
order the company is charging its plant
al Harrison, y. j.