Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-05-02
Special Dispatch to The Star.

Special Dispatch to The Star.
NEW YORK, May 2.-Current indi-
cations Of the trend In various divi-
sions of industry and trade are sum-
married by the Standard Statistics Co.
of New York from its first of May
resume of the outlook for important
lines, as follows:
Agricultural machinery fur
Their shrinkage in farm purchasing
power in prospect for 1881, there is
little basis upon which to found ex-
pectations of an early improvement in
agricultural implement trade.
Aircraft-The near term profits out
look for the civil plane division con-
tinues unsatisfactory. Military business
will continue to serve as the backlog
Of the industry. Air transport opera
tors will continue to be largely de-
pendent upon air mail revenue.
Apparel - Replacement m n
should assume increasing Importance as
the year progresses and production
should continue to expand.
tomobileS.-F1rst quarter earnings
statements reveal generally unfavor-
able comparison with last year, but an
encouraging factor is seen in the show
ing of various producers whose volume
has been reduced but who have man
aged to report at least a small profit.
Automobile parts.-Major recovery in
parts company earnings likely to be de-
layed until motor car industry itself
experiences a marked revival.
Automobile tires.-Casing inventory
situation will probably remain sound
but years profits possibilities are most
uncertain.
Building Prospects.
Building. Considering the industry
as a whole, 1t is apparent that the
bottom level has not been passed A
reversal of trend is not expected before
the second half of the year at the
earliest.
Chemicals.-Price recovery in the
chemical business Will be h refHSfTe:E
slow process and earnings will continue
restricted during the near future. A
decidedly mixed trend Is indicated, and
results in the welding equipment
visions should prove comparatively
favorable.
Coal-The bituminous industry is
approximately Scraping bottom and
there is little reason to expect q re-
vival before the third quarter, at least
The present quarter is likely to be one
of abnormally low volume in the an
thracite division.
Copper-A sustained expansion ir
demand Is necessary prerequisite &c
materially higher quotations for the
metal and it is unlikely that such i'm.
provement will develop before the FaL
months, at the earliest.
Cotton.-Earnings OF most cotton
goods companies will be severely re-
stricted during the first half Of the cur
rent year. Barring unforeseen cro[
failures. a sustained price advance 1r
cotton is not probable during early
future months.
Electrical Improvement.
Electrical equipment-Some slight
Improvement is expected during the
current quarter, due principally to the
effects of cost-reducing measures rather
than to any important increase IN new
business. .
Farm products.-The supply situation
continues to be the governing factor
with regard to wheat prices over the
longer term and an ultimately loWel
level of world prices seems probable
The shortage in domestic supplies o.
corn will undoubtedly be made up TIM
Summer. Supplies of most other farm
products continue overabundant.
Fertilizers.-Full year returns OF ever
the leading mixers will probably d.
quite unsatisfactory.
FOOD proCucCS (OtneI ClaA nICoV'
Leading producers of nationally adj
vertised package foods as wei! as the
speciality bakers will probably carr
nearly as much this year as they die
last, while dairy products manufactur-
ers have prospects Of fully MAINTAINING
the income levels OF 1880.
Household products.-Leadlng manu-
facturers of matches, soap and retrlg'
orators are likely to report 1881 profits
fully equal to those Of last year. De
mand for most other household prod
ucts is very slack and important re-
covery in these trades is not expected
until Sizeable improvement occurs II
the general business situation.
Lead and zinc.-A further downward
revision of the current price level OF