The Washington times. [volume] (Washington [D.C.]) 1902-1939, 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 diffi-
Guilty experienced in obtaining winter
orders placed late. retailers are hurry
ing into the large markets to book
their spring requirements.
While big business" IL 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-
tion Of hostilities in Europe may bring.
In the estimation OF financial inter
ests the United States Steel Corpora
tion's December statement of untitled
tonnage, to be announced tomorrow,
will show an increase of about 100000
tons. When the fact is recalled that
the corporation already has vast orders
on fits books and has been compelled in
gestion al 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
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
HI. =
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 rs
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 1900 cars in
allegiance. The Union Pacific has an in
| quiry for 1000 cars and theDenYcr and
Rio Grands 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
500, 900. 900 will have to be spent on
Mexican railroads to put them in proper
Company Is 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-
ton during December. when more than
10000 tons OF finished wire products
were shipped. Wire nails are quoted
at 2.1O cents, plain wire. Los cents, and
painted barbed wire 22S cents. These
! quotations are merely nominal, and or
' ders accepted at the convenience OF the
mill. Premiums OF IS to IS a ton arr
being offered on barbed wire for de.
livery before midsummer
Manufacturers OF cotton fabrics star
the year under better auspices thar
they have for q decade. More spindleI
are in operation, and II has been found
advisable to increase the wages OF thu
workers. because there is no super
iuity OF operatives to be had and the
owners OF mills are anxious to keel
those they have. Workers In such mill
would have little difficulty In gettinI
other kind OF employment just now 1
they wiahed, and Il 10 the eKperienc,
at mill men that good workmen, II the!
once leave for other occupations, rarely
II ever. come back The output OF tn
mills IL sold. as a rule. quite Tar ahead
A further evidence OF more genera
prosperity Is found In the activity o