Washington standard. [volume] (Olympia, Wash. Territory) 1860-1921, 1915-06-04
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i. FINANCIAL NOTES (.

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Pennsylvania railroad has placed
orders for 10000 to $4,000 tons OF
steel, mostly plates, for 2,1OO cars to
be built at Altoona.
American railroads ordered last
week $4,000 tons of rails, 1882
freight cars and SO locomotives. Ex-
port orders amounted to 10000 cars
and 5000 tons of rails.
French government is preparing
for the issuance of f42.000.000 OF
French treasury bills to be renewable
until one year after signing of peace;
212,000,00O French bullion will be
shipped to England as part security.
Total lake commerce through the
canals at Sault Ste. Marie and Ontario
for April was 1,435,000 tons COM
pared with $4,000 tons for April a
year ago.
Pittsburgh special says capitalists
not connected with steel making in
dustry have shown their faith in
future trend of the market by buying
for investment between $4,000 and
100000 tons Of pig iron of various
grades.
A contract has been let by the Bald
win Locomotive Works for conS.ruc-
ton of another big building at Edy-
stone. The cost Of the work is esti-
mated at 100000.
The United States Steel corpora
ton is now operating about IS per
cent Of total ingot capacity, against
average operations Of 50 per cent In
April, when daily shipments were at
the rate of $4,000 tons and daily
orders averaged 10000 tons. On .
basis Of March earnings, the Steel
Corporation In the current quarter
would show profits Of approximately
$21,500,OO0. All will depend upon
maintenance of present prices and OPP
erations. If there IL slight falling
of in production. this development
may be Offset by the 81 per ton i'm
crease in prices which became effect
i've the first Of this month.
Traffic officials Of Eastern railroads
believe that the business situation OF
the country has turned the corner.
April business made better COMPARE
son with last year than did that OF
March, according to the Wall Street
Journal. On some lines. including
the New York Central, April gross
earnings exceeded those Of the same
month Of 1914.
Prices of meat animals, hogs. cat
tie, sheep and chickens. to producers
ON April Is, averaged about $3.50 per
100 pounds. This compares with
$40 a year ago, $7.35 two years
ago, $3.50 three years ago. $3.50 four
years ago. and STA five years ago.
New York state has borrowed $6,-
100000 from the Guaranty Trust
company Of New York City until Oc-
tober I.
The Russian government is about
to place an order for 100000 pairs
Of army boots with New England
shoe manufacturers.
New York capitalists have pur-
chased $4,000 acres Of oil lands In
Louisiana. Henry l.. Satterlee anf
G. L. Garfield are at the head of the
syndicate. Price is over 100000.
Crude rubber trade in the United
States is providing for any emergency.
Importations last week were largest
in history of the industry. Conse-
quently some surplus stock is being
offered at concessions. Never has
there been so much raw material ON
hand here at one time.
Chicago. Burlington & Quincy rail-
road has placed contract for 1850
tons fabricated structural steel for
bridges with FIT. Pitt Bridge company
and Louisville & Nashville railroad II
placing contracts for bridge work
calling for 10000 to $4,000 tons of
steel for this years shipment.
North Dakota's state crop report
gives the condition of wheat as 81.
against an eight-year average of SO.
1t is understood that the Bethle-
hem Steel corporation has received
further orders for war material az
gregating $S3.000.0o0. Upon this
total profit Of 20 per cent is claimed
which would be equivalent to slightly
better than 100 per cent on the COM
pany's capital stock. On January l.
1915, the company's untitled orders
stood at $46,000,000. the largest In
the company's history. That Bethle-
hem Steel will earn $50 per cent on
its stock this year and fully $50 per
cent more from 1915 operations 10
the belief held in banking circles In
New York.
There is an inquiry in the Boston