The Washington times., 1915-08-29
WEEK IN FINANCIAL CIRCLES

announces. included IN I, $3.50 motor vehicles,
at $1,000, 600, making the total exports
Of the automobile industry $67. .254, ,635,
an increase Of $34, ,065,s ,s29 over the
previous twelve months.
War profits we're directly reflected
through the declaration Of extra aivl.
and Atlas powder companies. The for
n,er company not only declared the
usual quarterly dividend of 2 per cent
on Its common stock, but added an extra
dividend Of 8 per cent payable septem;
its regular quarterly dividend Of W
per cent and an extra dividend Of sini-
lar amount.
The demand for munitions and war
supplies has led many companies to con-
such materials. but the demand con-
tinues to grow. Tuesday charter was
Rife Syndicate, Inc, a 500. 900 corpora
tion. which will engage In the manufac-
ture OF rifles. cannon, machine guns,
mortars and firearms Of al! kinds.
has been from the European bclliger-
ents. China. however. has now come to
sSnnty Of fGr nsya suBf Ia. rns
commission OF expert naval men to
study the construction Of submarine
boats. with the intention Of making ex-
tensivc purchases for its navy.
Yesterday there were reports from
New London. Conn, that a Chinese ad-
miral and thirty officers had established
themselves In that city. and we're spend
ing their time making Inspections at
pany and the Fore River shipy ards.
While no contracts have yet been
made, the dispatches say that negotia-
tions have been entered into with the
Submarine Boat Company. which was
until lately the Electric Boat Company.
looking to the probable purchase Of 100
submarines at a cost Of SIS, ,O0O, 900. Az a
result OF the possibility OF the acquisi-
tion by the company OF such an order.
the stock of the Submarine Boat Com
pany yesterday sold at $50. On the day
that the Lusitania sank this stock was
selling at So.
Leading steel companies are looking
for continuance Of the present rate
capacity. not only throughout this year.
but wei! into 1915. The heavy demand
for large steel rounds Is still. according
to the Iron Age. the leading feature of
the trade.
France has placed a good part OF the
100000 tons recently pending. and is now
negotiating for an additional 1900 tons
Probably 10000 more tons are said to
be involved in estimates now before the
trade.
1t is becoming more evident, the Iron
Age says. that the railroads in their later
buying will have to compete for mill
capacity with the munition manufac-
turers. In the past week 10000 tons of
rail orders were placed. 5000 Of which
cannot be delivered before October.
Prices Of pig iron. of semi-finished
steel and OF number of finished prod
ucts are advancing, with a result that
many prospective buyers are keeping
out Of the market. while a number of
others. becoming nervous over the out
livery.
The cotton situation continues to at
tract attention. Many Southern leRis-
iators are incensed over the placing of
the staple on the contraband list by
Great Britain. and 1t is probable that
The Administration will be confronted
with trouble arising from an effort on
the part Of the Southern Senators
and Representatives when Congress
tons and other supplies to Britain and
ations to this effect have been made
BY Representatives OF the Southern
States.
So far Is the financing Of the crop is
concerned. there should be no trouble,
In View of the steps which the Federal
Reserve Board and the Treasury De-
partment are taking to insure the cot
ton growers aid.
w p. g. Harding. a member Of the
Reserve Board. in reassuring ad-
gested that despite the placing Of cot
ton on the contraband list. Germany
would make an effort to obtain cotton.
II reports in circulation yesterday be
true. the effort is already under way.
4 rumor was current in, New York
that German representatives were In
the market for 3 200 900 bales. As a re-
suit cotton prices advanced materially.