Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1917-08-11

,ha - .,ange In the technicar position ~ !
aa,,.t n'arket for securities. Business vii, he |
rush.a al! our Industrial plants will be |
he ae,,,,e, 70 'heir utmost capacity: labor will
wages evG known. "o''o Vi
Dut inc Government Mt tho oor,,,o,to,
on.m ,ne WORK, steps In to name the price th,t
s." s."'i ne accepted thus limiting protite and
,,aan''hg y, ,ag 'profiteering" In the op,nion
concarn Nreu',Ves of number of large
10 ,,a,, tnis is a condition which places
.ne industries of the country ON tho so,oo
plane that the railroads have occun,od Co.
~soners',on ~ or more. The latter have heen
eeApected TO meet all demands uno, thon,
% .vr pupiic service. but have no control oyo,
s sne., product, which in the case of the rail.
roaas Is exclusively a product called trans
washington repeatedly has come forr,a -,
ana insisted that highep railroad wasos ha
sonceueu IN order to prevent strikes rbere
Ne ueeh phenomenal ncrea ses I'm the costo
ol equipment. Of rails and of everything a.
tefihg INTO the transportation !ndustrv ru,
uiousn the Interstate Commerce Commits
.,ona s,oa .ae SNernnent has systematically and
e.eauisstiy refused to permit charges FOR
transportation to be advanced not onI,
oorrespondingiy, but in most instances nd.
vanced at all "'
III tne industrial world the Fedora, Trade
COMMISSION @ and the War Industries Board
,ns POSITIONS with that of the
Interstate Commerce Commission in IN.
matter OF the railroads. II is nor N no
"onuereu at' therefore. that the managers
Vi niuustrlai concerns are not enthusiastic
over the new situation that Is so steadily
and surely developing.
, be'hiehem Steel shares on "Wednesday
lor instance, suddenly broke 10 points in
response to reports that were circulated
| IN wall street that the company had re-
| iused TO accept it's part Of the allotment
| Oh an order for 100000 tons Of steel rails
| Tor export to France that had been placed
with our manufacturers by Washington
Ihe claim was that the Governments price
was below cost of production and figures
were presented, quoting an unconfrmed re-
| port to show that the real cost of Bessemer
rails was not below s3s per ton and of
| open-hearth rails not below $40 per ton
Refusals Of this character can, Of course.
! have but one result. namely, that of the
| requisition by our Government of recalc-
| trant plants
The passage of the food bill is another
| factor that will affect prices, since its
| scope il far beyond that covered by It's
| official title 1t relates to foods feeds
fuels. including fuel oil and natural gas,
fertilizer and fertilizer ingredients, tools,
utensils, implements, machinery and equip
ment, required for the actual production of
| foods, feeds and fuel. The President is
empowered to license whenever he may find
| 1t essential all businesses relating to I'M
| portation manufacture, storage, mining or
| distribution of food, feed, fuel and other
| articles named.
1t is obvious that there Is much in this
bill to become a general factor in the
prices of securities of manufacturing
plants Those who know the President
| have no doubt that he may be depended
! upon to execute the law in an entirely
arbitrary manner ana that the measure
| Will not remain tor an instant ueau letter
on the statute pooks
SIMMER DJJIJ,NESS IN STREET
,,,.,a ara conditions that do not AFFORD
o,aa,,raoan,art for a,tiyo n,,rchases of se-
cnrit,es nv the professionai wall street in
terests Rusiness on the New York stock
Exchange has become of the regular mid
summer variety Fluctuations, except IN
specinc stochs' are i'a''ow """ a9 q ''e
heahi"siess'
The Government crop report uhder
other surroundings, would nave peen con-
sidered remarkably favorable document
The wonderful corn crop or 1917 Is 10 De
exceeded, IL the Department OF Agrlcul-
lures 3,1sl.OOO.OOO bushels estimate is 10 pe
confirmed. Last years harvest or King
Corn was only '25S3,0OO.ooo bushels ana
| the five-year average Qsll-lslo) was only
2,7b40OO,00O bushels.
The wheat crop for which the promise
is 653 900. 900 bushels. exceeds that of 1916
| nv "a 600 0OO busbels but is still consid-
erablv beiow the ,ve.vear average. which
is SOC 600 600 bushels
So.. Uo.,ov',vvv u,"s g, ooo mn ho,os or Eoo
! ooo hales ahoye 1919 and comnares with
| avs-yaor average ~, "A ooo o00 hales
msa.a a,,,ras 80 hnuo,,or ~ oons;d-
Il A. s,ea,I IL, ~ ,os,,, arIoas
-. ~ .an,,,ns !, raoai,,I,n as,a is - ro-
nI.. -. %. h,n na,,,.s NJ - fa,,,oor 40 =
ceise loI ms plouGcts' me lafi.ei ea..
|