The Washington times., 1915-09-12
WEEK IN FINANCIAL CIRCLES

AS the week drew to a close Ameri-
can business and finance was again dis
turbed by political problems developed
In the international situation. The
threatened reopening Of the diplomatic
clash with Germany and the prospect
Of strained relations with Austri-Hin-
gary arising from the conduct Of Am
bassador Dumba was reflected In low
ering OF security values.
tributed by foreign factors. Domestic
Influences were all Of a favorable char
acter. and calculated to further the I'M
provement which students OF business
contend has been In progress.
Dun's report on commercial failures
for the week was "a. as compared with
32S last week and 2sS in the correspond
ing week last year. The Government
crop report issued early in the week
dozen new production records. AS Of
September / the Government agents
found that practically all OF the prin-
cipal crops. with the exception OF pota-
toes and rice. had improved during Au-
guest. The wheat estimate, placed at
8Sl, 900 900 bushels. Is 100000 bushels
more than last year, and the corn pros
pect exceeds last years crop by 10000
600 bushels.
While the monthly statement Of un:
filled orders OF the United States Steel
Corporation for August showed de-
crease Of 10000 tons as compared with
many followers Of the corporation S
stock. this slight falling off was ac-
counted for by the fact that the com.
pany's mills have beer been operating at
Steel products are now selling at ad.
vances of from $2 to $5 ton, and ac..
cording to the Iron Age a Significant
turn in the TRACE has been been marked 1ar by
rolling. The Louisville and Nashville
has bought 5000 tons from the Steel
Corporation. and the Atlantic Coast
Line 10000 tons for such delivery.
which rail mill space is being taken up
with orders for large rounds utilized
In munition manufacture. the railroads
are coming into the market, and in many
delivery. Western lines have been seek
ing to contract at Chicago for 1916 track
supplies, but the mills have thus far
DECLINED to quote for that delivery:
lesson from recent experiences. While
It has been generally believed that the
mills have been making large profits,
it Is said that many Of them have only
advancing prices. having tied up their
plants months ago with orders booked
at much lower figures than now pre-
vail.
Another impressive sign of business
Improvement Is the increasing traffic
on The reilroad lines of the country
The Pennsylvania railroad company re-
Gently issued statement to the ,eef-
feet that every freight car on the
lines both east and west is now in
use. The Erie reports similar si.ua
ton on it's lines. and the Southern rail-
way, In anticipation of n sharp revival
in business in the Southern States. a
section Of the country that has been
more depressed than any other by the
effects of the war, is increasing it's sup
ply of box cars.
During the year the Southern pur-
cars. 1t has recently rebuilt 1000 old
cars, and is now preparing to put
another 100 through the same process.
Much Of this increase in traffic is
attributed to the movement of NUM-
tions, shipments of which have only
recently got under way in large vol
ume. Figures Just made public by the
Bureau of Foreign and Domestic Com
merce, of the Department of Com
merce. show thai shipments of horses,
plosives, all ciasscd as war supplies,
aggregated nearly $4,000 900 In July
Almost rs pleasing to railroad men
as this increase in traffic is the sharp
change in tho attitude of the leaders
in public thought toward the railroads.
At tho annual convention of the Amer
lean Eankers' Association which con-
GUIDED this week Mt Seattle the needs
of the railroads received almost AZ
much consideration as the banking
problem
Former President Taft. in the course
of an address before the convention.
said:
"w. must grant increased rates to