Evening star. [volume] (Washington, D.C.) 1854-1972, 1929-02-23
STEEL PRICES REFLECT GAINS
IN INDUSTRIAL ENTERPRISES

the second quarter would leave produc-
ton we'll above normal.
Industry in general turned out 10 per
cent more in the last month than In
the corresponding period Of 1928 ana
despite this fact orders on manufac-
turers books in most lines are growing
instead of showing recessions. Auto
mobile production since January ! has
been larger than in any similar period
since the invention of the "horseless
carriage" Output for the two months
is expected to approximate at least
100000 to 1000 cars.
Building construction has felt the
tightening of money markets and the
higher price for funds necessary for
building operations. This has been off,
set in part by more efficient and less
expensive methods put into effect in re-
cent months. These have effected re-
duction in costs without a correspond
ing fall in prices of materials or in wage
levels The soundness of the building
situation is indicated by authoritative
estimates by the lumber manufacturers
association that demand and consump-
ton will increase 3.5 per cent above
1923 levels in the first half of this year.
The soundness of the general manu-
featuring situation is indicated by the
statement that box manufacturers ex-
pect to consume 414,000,00O feet of lum-
Der in 1929, as against 396,000,000 in
1928. Cement is likely to be better placed
technically when Spring opens up the
road work. Hardware and brick manu-
facturers are doing well. The railroad
equipment manufacturers are doing
much better than year ago, and there
is no sign of drop in the high rate
of production and distribution of farm
machinery.
The textile plants, with the exception
of silk mills, are in an improved posi-
ton, but just how far they can go be-
fore check depends on weather and
fashion conditions and the way man.
ufacturers meet the changes. So far as
the agricultural districts are concerned.
the drop in live stock prices has had
some depressing effect, but the uncer-
tainty now apparent is due to the nor
NAL fluctuations of weather and range
conditions.
Coal. both anthracite and bituminous,
is in sounder position than year ago,
but it still leaves much to be desired.
The building of new and improved
breakers in the anthracite fields is in
dicative of the determination to produce
more earnings without wide price
advances. The gas industry is prosper
ing ana large sums seem likely 10 DE
spent in development. The other men,
Der of the fuel group, oil. is again facing
the problem of over production despite
increased consumption of gasoline.
Railroads.
Railroad profits are regarded as good
but the industry is "all steamed up
over the probabilities of consultations
However, the carriers will be under
necessity of spending less for mainte-
nance this year than last, according to
present estimates. The aviation indus
try is expanding at an unparalleled pace
but it is now approaching a time OF
extreme danger to those companies not
soundly financed. in view of the fact
that probably 10000 machines will be
built this year. Radio manufacturers
are working at top speed, with the pros
pect of additional profits from develop
ment of televiSion broadcaSting.