The Washington times., 1915-08-15

Despite the development during the
past week of an undue number OF ad-
verse factors the outlook for American
bl siness shows steady Improvement.
Viewed apart. the decentralization OF
foreign exchange. the ominous Mexican
situation, and the adverse decisions
rendered within the past few days by
the Interstate Commerce Commission In
rate cases might be calculated to cause
capital to form a pessimistic concep-
ton. but these depressing influences
are more than offset by the general
betterment in internal conditions.
August crop estimates issued early in
ture show that the 1915 agricultural
and the greatest in value In the history
Of the United States.
In this report 1t is estimated that the
wheat. corn, and oats crops alone will
bring the American farmers nearly
izeG on these products. The wheat yield
will be nearly 1000 600 600 bushels, the
corn yield, 2.91S, 900. .0Oc bushels. and the
oat yield 1.4o2. 100000 bushels.
That Improvement In the steel trade
WHICH has UecH HOClCedDIe lOr SeVeral
months continues with no present sign
4f abatement. From the Pittsburgh
district, the greatest American stee
center. come reports to the effect that
overy industry. with few exceptions. II
booming. The steel industry. these re.
ports say, with its allied ramitications
10 operating almost to capacity and
VIII gradually be put on full time II
men can be found to keep the plants
One Of the best indications Of the in.
creasing activity in Pittsburgh is the
quantity Of iron ore which is being
shipped in. A train OF ore for the
mills of the Pittsburgh district IL
every ffty minutes.
A large steel manufacturer claims
that his plant Is employing from n
to 80 per cent more labor than at thls
from 90 to IS per cent tonnage capacity
as against 80 to 40 per cent in the
corresponding period.
According to the Iron Age active buy.
Ing at advancing prices has centerec
attention on the pig-iron market. anc
stecl-making pig-iron. which has led II
tonnage. has advanced 81 ton II
nearly all markets. In June the ex
port shipments Of such iron and stee
amounted to 355,OOO tons against 2S3,
600 tons in May.
Russia, having already placed larg.
rail orders in the American market
Steel and the Pennsylvania Steel Com
panies for. $1,000 tons. each. and ha
placed with another company a larg'
order for steel spikes and side plates
Bankers and others in a position t
observe mercantile and Industrial af
fairs closely foresee further vast stimu
lation of the industrial activity Of tn
United States through the creation b.
this country Of means Of defense an,
the rehabilitation at the conclusion o
the European war of the military an,
naval units Of the countries involve,
in that strife.
There are already said to be larg
orders in course Of completion for thi
closed to the general public, but are be
der, the guisc Of torei gn war orders.
Almost since the beginning Of tn
talk Of idle capital The. banks are sti
plentifully supplied with funds, an
money is cheap, but the idle money
flowing with increasing volume into ir
tcrest-earning channels.
That class Of merchandise which tn
Occtdent now needs more than anythin
else-war materials-has attracted car
ital to the extent where estimates no.
place investments in factories engage
In such nanufacture at 80 per cent
excess Of the entire holdings Of tn
American people in the issues Of the
own Government.
Fer several weeks the press Of tn
country has devoted much space
strikes or threatened walkouts at tn
great factories Of the East. particular ri
those engaged in the manufacture {
war materials.
The situation. however. is not so ger
eral. or acute. as might be conceive