Evening star. [volume] (Washington, D.C.) 1854-1972, 1929-03-29
INDUSTRIES SHOW
REMARKABLE GAIN
Peaks for All Time Beinu
Established in Some
Fields.
BY J. c. ROYLE.

Special Dispatch to The Star
NEW YORK, March 29-The newt.
able check which holidays of any de.
scription interpose in the path of in.
dustry was encountered again this week
This was seasonal and expected anc
was compensated for by the smooth
progress of retail trade sales.
The situation has its counterpart on
the automobile racing tracks. The driv-
er, circling the track and coming into
the first turn, lifts his foot for an in
slant from the accelerator while the car
coasts safely with undiminished speed:
and before the impetus is lost the en-
J CINE is again driving the wheels at top
speed.
Momentarily there is a gathering of
cash incident to payment of first quar-
ter obligations. Dividend payments prob
ably will exceed those for first three
months Of any year. There is in con-
sequence a slight tightening of funds,
but the fact that big banks and f1nan-
clal houses are willing to pour millions
into the call money market indicates
with what freedom they will supply
all6 trade.
Operations at High Mark.
Outside of the holiday check. the
steel industry seldom has been at such
high rate. This has resulted not
only in flrmness of prices. but in ad-
vances in quotations for some ferrous
products. Operations are rated at 95
to 100 per cent Of normal capacity and
there Is little doubt March output has
eclipsed all previous monthly periods.
Moreover, orders ahead run as far as
May, with some of the railroads lust
beginning to show the buying rash with
which they normally break out once
each year.
Jupiter Pluvius. as usual is now
shaking his fist and making threats at
the farmers. but the strength of the
latter is indicated by the disposition to
buy agricultural machinery with as
tonishing freedom. Current orders on
the books of the farm equipment manu-
lecturers are well above those at this
time last year.
The automobile production in the
nrst quarter is conservatively estimated
at 40 per cent higher than in 1928.
The actual total of cars and trucks
turned out in January and February in
canada and the United States was
929,600 and the conservative estimate
for March is 100000, or total for the
quarter of 1,419, 800, record for all
time. This may be the peak and some
reduction may show in April, but if
there Is decline it is expected to be
small. Foreign business is As per cent
heavier than year ago.
Other Strong Spots.
Parts makers are worked to the limit.
and tire production is expected to be
20 per cent above that for the first
quarter of last year. Airplane engine
manufacturers have shown equally i'm
pressfve gains. and there have been in
creaSes in plane output and commercial
routes operated. Demand for machinery
and machine equipment reflects these
activities and is of unusually heavy
volume. Roadmaking equipment is es-
pecially active. Purchases of electrical
machinery by industrial plants have
been of unprecedented volume as have
orders for central station equipment and
railroad electrification.
Copper Is still strong in technical
position and price AS yet the high
prices have not sufficed to curtail de-
mand from consumers. Lead prices
have been rapid and sustained, owing to
the Mexican situation, and zinc has also
done better. Radio sales are unusual
for this time of the year. and are ex-
pected to run something like 40 per cent
ahead OF those of 1928.