Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-03-15
SOME INDUSTRIES
SHOW STEADY GAIN
Amusement and Tobacco
Shares Reflect Healthy Con-
dition in Those Lines.
Special Dispatch to The star.

Special Dispatch to The Star.
NEW YORK, March l5.-There are
some lines of business which are show
ing, as a result of the severe tests Of re-
cent months. that they are practically
immune to the influence of reactionary
times. One such is furnished, says
Henry Clews & Co., by the amusement
industry. Most Of the companies in the
film business, as we'll as in allied en-
terprises, show not only no falling of
during the last quarter Of last year and
the early weeks of $780, but they show
steady expansion and decided improve
ment, with correspondingly hopeful
prospects so far as dividends and mar
ket prices go. There has been obvious
growth of confidence in that branch of
the Investment field.
Very much the same thing is to be
said of the tobacco shares, the review
says. They are demonstrating the ca
pacity to maintain the higher price for
cigarettes which was established by the
wholesalers last Autumn and to profit
by 1t in spite of retail controversies,
with the result that the current values
OF the leading shares are in many cases
well up to pre-panic levels.
Oh AtOSpCCtS AHpIUNCus
Considerable interest was aroused
during the past week by the apparently
better prospects Of the oil industry for
some genuine curtailment on a cooper
alive basis, and there has been substan-
tial buying of these shares as a conse-
quence.
Not only in these, but in several other
groups, decided opportunities of profit
are now recognized; and this includes
the automobile and copper stocks, which
have recovered comparatively little from
the panic prices of last year.
Market values, under the influence of
the factors already outlined, have
maintained themselves well and hold
out the promise of doing even better as
the season advances. That that conf
dence Of the public is fast returning is
shown by the increase in brokers loans,
Whlch, however, are still low so far as
commission houses are concerned.
Whlle the advance in some stocks
mas been considerable, as compared with
the panic prices which prevailed last
Autumn, it should be borne in mind that
values OF practically everything on the
list were carried down to figures very
much below intrinsic merit; therefore,
Notwithstanding the uplift which has
taken place since the first of the year
the shares of all the strong companies
are selling at very reasonable prices
indeed, in some cases they are still I'M
dervalued based on financial strength
and earning power, as demonstrated by
past performances and which are likely
to be repeated as time goes on.
Trading on Same Basis.
One thing that is causing much sat-
isfection in connection with the present
market operations is that they are con-
Quoted in very sane manner Nnrnal
reactions are allowed now and then to
occur, but it is becoming more apparent
day by day that there is no great
amount of liquidation overhanging the
market, and in consequence the demand
for the general run of stocks is outrTn-
ming the supply: as matter of fact,
the market is in very healthy condi-
ton with the credit situation the best
that it has been in years, thus revers-
ing the conditions which prevailed at
this time one year ago, the Clews Re-
view concludes.