Evening star. [volume] (Washington, D.C.) 1854-1972, 1926-08-07
OUTLOOK IS BETTER
FOR NEXT 6 MONTHS
Steel, Sewing Machine and
Auto Business Holding Up
Pace Well.
BY J. G. ROYLE.
J Special Dlepatch TO The Star.

Special Dispatch to The Star.
NEW YORK. August THE
stitches now being sewn into the
fabric of industry are securing the
garment OF national prosperity FOR
the next ak months That Is the con-
clusion reached by A. s. Rogers, presi-
dent of the White Sewing Machine Co.
He declares that reports from all over
the United States indicate a pickup
In sewing machine business late this
month, and that the activity will con-
tinue throughout the remainder Of the
year.
The business of the White company
is strongly indicative of the trend OF
general buying power throughout the
United States. Canada and Mexico.
White earnings for the first half Of
this year were the largest In the so
years OF life of this corporation.
Much OF this improvement liz at.
trihuted by MIR. Rogers TO the popu-
larity Of motor.driven machine over
the old foot-power drive. Many OF
the company's machines are sold on
part payment arrangements and col
lecttons reflect promptly any diminu-
ton Of purchasing power.
Steel production, another valuable
measure OF business activity, con-
tinues on large scale. Operations
which were high in June were higher
last month than in any July in six
years, and officials OF the steel COM
panies are predicting a continuation
of demand for prompt deliveries which
can only partially be measured by un-
filled tonnage figures.
More orders for steel sheets were
booked In the last month than in any
similar period for years. There has
been drop In sheet output schedules
in the last week. but sheet mills are
still above IS per cent Of capacity.
Automobile production is gaining
pace again, as orders flow in for new
models. The stock fmarket may have
been Influenced by statement OF finan'
ciers during the week. but no in
terview or denial of an interview can
change the fact that In some COM
panies earnings applicable for divi
dends so far this year have been "a
per cent higher than In the CORE.
spending period Of 1925.
Building Activities Hold.
Building activities have turned In a
new direction. but without diminution
of demand for basic materials. In
fact, Improvement has been shown In
sales of lumber. brick and cement
Despite the drive made for new bust
ness done in June by the life insur-
ance companies, the volume Of bust
ness done In July by the outstanding
companies was in excess OF the cor
responding month OF 1925. This
means an additional amount of capital
which will be put into real estate
mortgages and sound investment Sc
curities.
The fine goods mills of New Eng
land during the week gave evidence
that the depression In the textile
trades is being felt by investors. The
Whitman mills passed its dividend
after an unbroken record of payment
of % years. The Holmes Manufactur.
ing Co. and the Wamsautta mills re
duced their dividend payments from Sc
TO 50 - share. Notwithstanding this
the volume OF raw staple cotton con
sumed is growing steadily. Wool
prices are frning up and the end OF
the Passaic wooden mill strike seems
close at hand.
Coal Exports Huge.
The continuation of the English,
coal strike has brought extensive ex
port business to the GOAL operators OF
the East and this has been enhanced
in the case OF the anthracite mines
by added demand for Canada. Oil pro
duction Is growing but not 50 fast as
the rate of consumption which now
| seems at its peak for the year.
The non-ferrous metals all showed
signs of strength. Tire manufacturers
have already begun to moan over the
prospects OF rubber reduction at the
| end Of the year but production figures
now are very high In the Akron dis
trict showing they have not beer
acutely hurt as yet.