Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-01-04
PURCHASING POWER
SHOWS GOOD TONE
Investment Bankers List
Factors Giving Brighter
Outlook to 1881.

sps~ial Dispatch to The Star.
NEW YORK, January S.--If forecasts
Of better things are 10 be given serious
weight, the new year just opening viii
be a period of much greater promise
than any that has made itself apparent
for the last IL months, says Henry
Ciews &c Co. The Review. adds:
Among the favorable indications that
are now generally noted is the fact that
a holiday trade decidedly better than
had been expected has been enjoyed by
a great many dealers. Official figures
show q shrinkage of only as per cent
as against 1929. This has been true
not only in the United States, but In
foreign countries, and is taken as in
dicative of the existence of q very real
and substantial purchasing power
among the rank and file of the public
everywhere. On the wholesale side OF
things, particularly among the heavy
industries, improving conditions in steel
have been noted with decided increase
in the occupied capacity of plants and
q very genuine growth Of stability OF
prices.
Stronger Tone in Copper.
There is also a stronger tone in cop
per, as well as in several of the other
nor1-ferrous metals. Government sta
tistics show that November exports con-
TRUE to exceed imports, the final fig
ure now published disclosing favor
etle balance of about $82.000,000 For
the IL months of 1880, unofficial esti-
mates show our total excess of exports
Is likely to be fully $74O,0 900, and
present indications thus point to a
larger balance in our favor this year
than existed last year.
Further study of the situation also
shows that our foreign sales increased
in many important items, such as cleo
trical manufactures. machinery of va
rious kinds, tractors, motion picture
films and many others. According to
representatives of foreign trade organi-
cations, American business men are
looking confidently forward to an en-
larged volume of business In interna-
tional commerce, which they think Is
sure to develop.
Public utilities are reporting excellent
volume Of business and good earnings
for the year 1880, and it is probable
that the earnings showing for the year,
Is indicated by representative enter
prises Of all classes, will turn out ma
terially better in comparison with 1929
than has been predicted.
Dividends Holding Up Wen.
Comparisons of dividend policies, as
between 1929 and 1880, show that the
week have for the most part been
ably well. Suspensions during the past
week hive, for the most part, been
relatively unimportant, while they have
been offset by some increases, notably
the so cents extra dividend of Corn
Products, making 81 for the full
year. Convincing statements as to the
future, issued by industrial managers,
notably by heads of one Of the copper
companies, afford assurance that pres
ent conditions in that field are well
protected and that future changes may
reasonably be xepected to be for the
better.
Wrought the entire Industrial list
there appears a large number of issues
which have apparently been very well
nquidated and whose prices offer I'M
usual opportunities to investors, provided
the latter are willing to wait even
moderate period for q return upon
thear money. Many such investors
will be In position to buy, II they
choose, with the dividend disbursements
which have been ordered for this
month, and wise selection Of securities
ct present levels Of value Is certain
to yield substantial returns with i'm
proving business.
While there has been no very definite
change Of sentiment as yet, the review
concludes, with conditions as they
stand, 1t would take very little improve
ment IN business prospects to bring
about o decided enhancement In market
values-many Of which, 1t Is recognized,
are well under true book figures.