The Washington times., 1916-01-09
WEEK IN FINANCIAL CIRCLES

Contrary to usual custom, American
business Is speeding on in the wake OF
the holiday with no appreciable slow
ing UP.
Confronted with a daily increasing
disposition on the part Of the public
to purchase. and realizing the diff
Guilty experienced in obtaining winter
orders placed late. retailers are hurry
ing into the large markets to book
their spring requirements.
While big business Is disposed to
harp to a degree on future possibili-
ties. the public generally finding that
there Is no apparent slackening in the
prosperous condition of the country and
that more money is coming into gen.
eral circulation through wage increases.
Is paying little heed to what a termina-
ton of hostilities in Europe may bring.
In the estimation Of financial inter
ests the United States Steel Corpora
tions December statement OF untitled
tonnage, to be announced tomorrow,
will show an increase of about 6Oo.0OO
tons. When the fact is recalled that
the corporation already has vast orders
on its books and has been compelled in
many instances. because Of the con-
gestion at its mills. to turn away or
ders. this outlook Is exceptionally salts
| factory.
The race for material which started
| last year will probably be continued
| throughout 1916 1t will be impossible
| to supply the demand. This will be es-
pecially true in regard to pig iron
While new open hearth steel plants now
under construction will increase steel
4 a m QnnnnfhinU I
COO tons during the year. pig-iron pro-
duction cannot be materially increased
over the present output OF approx
mately 100000 tons a year.
Plates have been advanced to 225
cents As a result of the high cost Of
| material one Western railroad has with
| drawn its inquiry for a large number of
cars The Pennsylvania Railroad Com
pany holds its order for 5000 cars in
! allegiance. The Union Pacific has an in
quiry for 1000 cars and theDenvcr and
Rio Grande for 1000 cars Should the
| Mexican situation clear up during the
year all the Mexican railroads will
have to be rebuilt. 1t is estimated that
Mexican railroads to put them in proper
running shape. The Standard Steel Car
Company ia reported to have taken an
order for 5000 steel freight cars for
| France. These are to be equipped with
| Westinghouse airbrakes.
Producers of wire have been fortu-
nate. With mills breaking all previous
records, and with order books filled six
and seven months ahead. producers
have the option Of selecting patrons
The American Steel and Wire Company
broke all previous records in produc-
tion during December. when more than
100000 tons of finished wire products
were shipped. Wire nails are quoted
at 2.l0 cents, plain wire, Los cents, and
painted barbed wire 22 cents. These
quotations are merely nominal, and or.
ders accepted at the convenience of the
mill. Premiums OF So to IS a ton are
being offered on barbed wire for de.
livery before midsummer.
Manufacturers Of cotton fabrics star,
the year under better auspices thar
they have for a decade. More spindlet
are in operation. and 1t has been found
advisable to increase the wages OF tn.
workers. because there is no super
fluffy of operatives to be had and tn.
owners OF mills are anxious to keel
those they have. Workers in such mill
would have little difficulty In gettinl
other kind OF employment Just now 1
they wished, and IL is the experienc,
OF mill men that good workmen, II they
once leave for other occupations. rarely
II ever. come back. The output of tn,
mills Is sold. as a rule. quite far ahead
/ A further evidence of more genera
prosperity Is found In the activity O