Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-11-30
INDUSTRIAL TREND
IN i. S. ANALYZED
Current Conditions and Pros
poets Given in Statistics
Firm Survey.
Special pispa tch TO The Star.

Special Dispatch 70 The star.
NEW YORK, November 30.-Current
indications of the trend in various di-
visions of industry and trade are sum
married by the Standard Statistics Co
from its first Of December resume OF
the outlook for important lines, as fol-
lows:
Advertising. the longer term
betterment in a few advertising di-
visions, particularly the newspaper field,
should virtually accompany business
improvement.
Agricultural Machinery.-The f1nan-
cial status of farm equipment manufac-
turerS is believed Sounder now than for
several months past. although definite
earnings progress is not indicated Tor
the Initial months of 1882.
Aircraft-Military takings will show
further gradual diminution because OF
reduced governmental appropriations.
Apparel-Present unsatisfactory con-
6itionS in this trade will probably carry
over into the early months Of 1882.
Notwithstanding of manufac-
turers should advance rapidly with a
sustained upturn in volume, In those
units where substantial operating econ
omies have been effected.
Automobile Parts. -- Certain units
should register prompt and substantial
earnings improvem during a period
Automobile TireS.-EXceSSive capacity
and the severe price competition might
readily continue to limit profit margins
for an indefinite period
Building-The near term outlook is
definitely unsatisfactory.
ChemicalS-PriceS of industrial al
cohol for 1882 business are expected to
be at least moderately above those of
this year, but in most other chemical
divisions it seems unlikely that mate
rally higher quotations will be obtained
on the 1882 contracts.
Coal.-Near term improvement in
either division of the industry will be
insufficient to allow earnings during
early 1892 to exceed the unsatisfactory
results currently prevailing.
Electrical Equipment.-Probable de-
mands during the early future do not
afford a favorable outlook for the
supply industry.
Food Products (other than meat) -
Recent strength in commodity prices
is especially favorable for food COM
pany profits, and continuation of the
rising trend should act to stimulate
sales which otherwise might be further
deferred.
Lead and Zinc.-Profits for producers
of both metals are expected to dem
onstrate only gradual recovery
Leather.-ProfitS of important man.
ufacturers are not likely to advance
rapidly next year.
Machinery.-Further curtaiiment of
operations Of manufacturers probably
will be necessary.
Meat Packing-Profit prospects for
early 1882 are unfavorable, but should
improve as the year progresses.
Metal Containers.-Prospect are IA
vorable for resumption of the past
upward trend of profits for manufac-
turers over the longer term.
Office Equipment. conSum-
ers have stocks on hand sufficient to
satisfy their requirements for some
time to come. Foreign demand is be-
ing adversely affected by economic con-
ditiors and devaluation of certain cur
rencies.
Paper-Production as whole with
in recent months has been advancing
somewhat more than seasonably and
with the advent of general business
improvement the industry should re-
fleet gradual further betterment.
Petroleum.-Th higher schedules
now in effect should permit the ma
jority Of companies to report improved
results during the current quarter of
the year.
Radio.-Recent indications that dis
tress liquidation of inventories may
assume major proportions during the
present heavy buying season further
complexities the medium term outlook
Railroads-Evidence of definite traffic
or earnings expansion is still lacking
despite the fact that there is some in
dication of sterilization at prevailing
low levels.
Railroad Equiprlent.-A minimum of
ordering will be dcne by the railroads
for some months to come.
Retail Trade 1T iS not PXOPctnd that
sales during the Christmas season will
fully equal those of year ago.
Shipping.-Operating economies will
not Offset the loss in gross revenues dur
ing the current year, and 1881 returns
will fall substantially below 1880 re-
suits.
steel-some Slight Improvement in
takings OF rolled steel should be re-
corded In December, and expansion
in shipments should be continued dur
ing the early months of 1882.
Sugar.-Earnings of both producers
and refnerS for the full current year
will be of unsatisfactory proportions.
Textiles.-Improvement in general
business conditions would offer only
slight prospects for betterment in the
various divisions of the industry, since
goocs consumption is already moving
in fair volume.
Theaters.-Attendanc at motion pic
lures Is still running substantially be-
low that of a similar time in 1890.
Tobacco.-EXisting wholesale price
schedules are resulting in increased
profits for the leading cigarette COM
panieS this year. Earnings of most
cigar companies for the full current
year will be of unsatisfactory proper
tons.
Utilities.-Through substantial reduc-
tons in operating costs, electrical con-
Germs are able to report net incomes
only Slightly less than those of 1880
while in some cases, actual gains have
been reported.
A reduction of less than 4 per cent
in profits in the manufactured gas
division, is expected for the whole
of 1881.
Natural gas companies will probably
report decline of more than 10 per
cent for the full year.
For the whole of 1881 an increase
in operating income of almost S per
cent Is expected for the telephone COM
DanieS