Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-02-05

lies in domestic wheat prices during the
early future. Indications that the corn
market is tending to divorce itself from
the wheat situation, suggest that corn
prices should trend moderately higher
during the early future.
FertiliZers-Current fiscal years in
come OF even the most favorably sit
uated concerns, will be at least mod
erately smaller than in l929-1930.
Food products (other than meat)-
The food manufacturing companies en-
ter 1881 with the outlook that the cur
rent IL months will be propitious. There
Is no present reason to fear that the
leading dairy organizations will not fare
as well as in 1880. Bread bakers will
probably improve upon the poor show
ings Of 1880.
Household products-For the group as
a whole the outlook continues any
thing but promising, with only q few
producers registering profits expansion.
Lead-Earnings Of both lead and zinc
companies for the first half of 1881 will
very likely be considerably below those
of the corresponding period Of 1880.
Leather-InventorieS of shoe manu-
facturers have been reduced and cash
positions strengthened leaving COM
panies well situated to take advantage
Of any improvement.
achinery-Although further sea-
sonal betterment is likely in months di-
rectly ahead, aggregate trade income for
the first half of 1881, is expected to
drop somewhat below the June, 1880,
half.
Meat packing-Taken as a whole.
prices of live stock and produce should
now begin to show greater stability
with a fair possibility of higher aver
age levels over the near term.
ONCE equipment-With substantial
Improvement IN business conditions I'M
likely during the near term, at least.
manufacturers earnings will probably
be rather disappointing during the next
few months.
Paper-A further drop in the earnings
of most concerns will probably be regis
tered in the early months of the current
year.
Petroleum-Proflts will undoubtedly
continue at current minimum levels
during the early months of 1881.
Radio-In general, set manufacturers
are in a sounder position than at any
previous time IN the past two years.
Enthusiastically comparisons Of
1881 net operating income with year
earlier should show the best results for
many months.
Railroad equipment-Owing to great
" reduced backlogs of untitled orders,
but slight improvement in earnings is
likely during the early part of 1881.
Rayon-Earnings in the first quarter
of 1881 will probably show compare
tive decline fully as large as that regis
tsred in the full IL months Of 1880.
Retail trade-Proflts for the initial
quarter of 1881, in nearly all cases, will
be lower than a year ago, but tncreas-
ingly favorable sales comparisons with
year earlier may be expected as the
year progresses.
MISUNDERSTANDING price appreciation
in the near term is an unlikely develop
ment.
Shipping-Both passenger and freight
receipts will show only moderate expan-
sion during the early future. Favorably
situat Atlantic seaboard yards will
undoubtedly b. able to maintain profits
at the satisfactory levels OF 1880.
Silk-It is probable that some earn
ings will be reported in the current
quarter, though they will BE- strictly
limited by the small volume of business
actually available.
Steel-For the first quarter a level
Of income but moderately above that Of
the Immediately preceding three months
may be expected