Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-10-03
BUSINESS TRENDS
IN j. S. ANALYzED
Some Lines Give Indication
Is That Turn for Better
Has Arrived.
Special Dispatch to The star.

NEW YORK, October 3.-Current in
dications 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 october
resume of the outlook for important
lines as follows:
Advertising - Substantial improve
ment in general trade, it is believed,
must precede sustained advance in
advertising expenditures.
Agricultural MISUNDERSTANDING
acceleration in the present slow rate OF
collections On farm receivableS must
await definite strengthening OF both the
agricultural price and credit structures.
Aircraft-A further prolonged period
of readjustment is facing the entire air
craft industry before a satisfactory
level of earning power can be estab-
lished.
Apparel - Smaller inventory losses
and an expected increase in full year
sales over 1880 totals probably will off,
set generally smaller profit margins in
the apparel field.
Automobiles-It is improbable that
aggregate 1881 outturn will be much, II
any. more than rs per cent of the s.
$4,000 units produced last year.
Automobile Parts-Little stimulus for
increased activity is in prospect during
acquisitions for new models should be-
gin to appear by late october or early
November.
Automobile Tires-No substantial i'm
provement in full year earnings Is eX-
pected for the great majority OF pro-
ducers
Building-There is no basis for ex-
pecting a counter seasonal trend in
construction during the Winter months,
although there is increasing evidence
that the industry is approaching a
sterilization basis.
Chemicals-For the immediate future
continued restricted profits are expect
ed The longer term aspects OF the
chemical industry are decidedly more
favorable.
Outlook for Coal.
Coal-Prof1ts for the bituminous
trade are likely to remain at current
low levels during the next several
months. at least. In the anthracite
division profits fer the season are ex-
pected to make decidedly unfavorable
comparison with those Of year ago.
Cotton GoodS-In spite Of larger
sales substantially more favorable in
comes fer manufacturers appear unlike
~ in tire near term.
Electrical Equipment-Both trade
statistics and earnings reports of lead
ing electrical equipment companies con-
tinue to indicate that activity and
profits are at low ebb.
Fertilizers - Present prospects are
that the coming active season may
prove even more improbable than that
a wear earlier
Food Products Cother than meat)-
Profits are we'll sustained. except IN
several branches which are depressed
b. fundamental trade weakness.
Household Products-Volume Of sales
Is unlikely to expand from present
levels until period Of increasing en-
oloyment expands public purchasing
power
Lead and Zinc-It is believed that
gradual reversal in the downtrend OF
earnings of leading producers is in pros
pect over the next several months.
Leather-For the remainder OF the
year, it is quite likely that the cyclical
movement of shoe outturn will continue
she moderately downward tendency al
ready manifested for three successive
months.
Machinery-Operating results for the
'ull current year will be Of slight pro-
portions, at best.
Meat Packing-Full year earnings
prospects remain unsatisfactory.
Metal Containers-It seems likely
hat 1881 profits of leading can manu-
'acturers will decline from IS per cent
20 20 per cent below those of 1880. Wild
ening uses of tin containers for general
Industrial purposes should increase de-
nand from this source upon general
business improvement.
Once eouipment-A rather prolonged
period of restricted profits is expected
throughout the trade.
Paper-The full year 1881 outlook is
for a sharp reduction in profits from
1880.
Petroleum-Profits of most COM
panies during the final half OF 1881
probably will show moderate improve
ment over the deficit levels Of the mi
tial six months. although full year re-
turns will be entirely unsatisfactory.
Padio-The low ebb OF consumer
purchasing power suggests that no more
than seasonal improvement, at best.
will be witnessed during the remainder
of the year.
Railroads.&c. is now indicated that
aggregate gross of all class l roads will
be the lowest this year since 1917.
Railroad Equipment-Prof1tS OF all
companies in the manufacturing divl-
sion of the industry will be severely
curtailed for the full current year.
Both the signal and the car-leasing
branches should be able to maintain
operations at comparatively satisfac-
tory levels during the remainder OF the
year
Demand for RayOn.
Ravon-Recent reduction in acetate
prices has Widened outlets and stimu-
lated demand. More healthy conditions
in the viscose field are reflected in in
creasing scarcity of so-called inferior
grades. and firm prices.
Retail Trade-There is little to indi-
cate more than seasonal expansion of
retail transactions this Fall and holi-
dav business is expected to be somewhat
below that recorded in 1880.
Shioping-Profits of foreign coastal
ard micronesia service for 1881 will
fall we'll below even the unsatisfactory
results Of a, year earlier.
Silk Goods-The earnings outlook for
silk manufacturers is somewhat i'm
proved but profit margins remain
narrow.
Steel-Activity at any time between
now and the year-end will probably not
exceed 40 per cent of capacity.
SUgar-A relatively firm or gradual
rising trend of sugar prices should
prevail during coming months.
Theaters-Certain constructive fac
tors are operating to prevent a more
serious depression. Far-reaching cost
reductions have been made throughout
the industry. Improved earnings are
expected in the final quarter of 1891,
although returns for that period prob
ably will not equal those recorded a year
earlier.
Tobacco-Full year returns for the
leading tobacco companies will prob
ably be somewhat above the favorable
1890 showing.
Utilities-Balances available for
common shareholders of elsctric light
companies foc the full year 1881 prob
ably will fall as much as 10 per cent
below those of 1880.
Increased operating efficiency and a
more conservative expansion policy