Evening star. [volume] (Washington, D.C.) 1854-1972, 1926-02-20
EARNINGS REPORTS
MEETFORECASTS
Building Permits Up-Retail
} Trade Cut Down by
Rough Weather.
By J. {. ROYI.E.

Special Dispatch to The Star.
NEW YORK. February 2O.-The
volume Of money which poured into
the markets in the last week and took
M investments offerings gave ample
evidence of the business condition of
the country. The annual reports Of
commercial and industrial concerns
now being made public sustain fully
the antiCipations As to 1925 profits.
The greater number of basic lines
have improved their positions this
wear ana their shareholders and EN-
r'oyes have money to invest.
"A survey of over 400 cities widely
separated indicate that the building
permits issued in the last month called
Tor the expenditure of per cent more
than for the corresponding period OF
last wear. The gain was specially
marked in New York. Detroit. Phila.
delphia. San Francisco. Seattle a nd the
cities of the South. In "a southern
Centers the rate of gain was 80 per
cent.
Building Materials Lower.
q The general trend of building mate
Walls is slightly downward in some
sections. although high coal prices
were reflected in brick. Lumber was
firm. owing To the increase In new
business al the mills the las, week.
by the drop in coke and soft coal
prices. which in the central Pennsyl,
vania field has reached 50 per cent.
There has been a strengthening OF
specifications. more railroad buying
and additional tin plate demand. Pro
ductinn now is averag ing over 40 per
cent in the Pittsburgh area.
The automobile trend is shown
plainly by the fact that the sales Of
one leading factory in the industry In
the last month have risen over 100 per
cent as compared with January.
Makers are now producing $50 body
types on 81 different ma kes of GLASSES.
Closed car production this year is
likely to represent IS per cent of
output.
Production of anthra cite has begun
but distribution has not reached suf
frient proportion to determine how
many of its markets hard coal has
lost This may not he est a blished I'M
til another Winter has pa ssed. OH
companies are eXpending more money
In oil development work in the South
west than at any time since 1920.
Standard Oil interests are fighting A
vigorous battle with British oil men
for development Of the oil fields on
the Bolivian side OF the Bolivia-Ar-
gentine boundary.
Inc textile MUS are nolnE De
cidedly better. The sale of 100, 900
pounds of fine medium wool in the
Northwest at 80 cents a pound. how
ever, showed a marked drop in raw
wool prices. Wearing apparel plants
have picked up in some sections. but
the industry here is still facing labor
disputes, which exist also in the fur
and silk plants.
The unsettled stock market is held
responsible to some extent for the dull
ness of movement of the nonferrous
metals. Sales of copper have been
small, although brass companies are
doing well. Lead dropped in sym
pathy with London. The report that
the boil weevil Ia alternating in great
numbers this Winter has livened up
the arsenic group of chemicals. but |
heavy offerings depressed denatured |
alcohol.
Weather Slows Up Trade.
The weather Of the last week has
not been beneficial to retail trade. al |
though the pre-Lenten festivities help
ed out the sales Of Monday and Tues
day. Merchants are preparing for
record breaking Easter trade.
The market for radio receiving sets
has slackened, although demand for
accessories continues brisk.
Action of the House and Senate con-
ferees on the tax bill assuring a cut
of about 1881 100000 has been largely
discounted, but the progress made to-
ward final approval OF tax measure
was heartenins to corporations and
i l. III I'll