Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-05-31
OUTLOOK SPOTTY
IN VARIOUS LINES
,HaIf-Year Retail Trade viii
Show Gains Over Same
Period in 1880.
Special Dispatch to The Star.

Special Dispatch to The Star.
NEW YORK, May 30-Current in
dications of the trend in various d.
visions of industry and trade are sum-
married. by the Standard Statistics Co.
of New York from its first Of June
resume of the outlook for important
lines, as follows:
Agricultural machinery-Sales. coll
lections and net income undoubtedly
will remain at severely depressed levels
during the balance of the year.
Aircraft-Curtailed sales will prevent
any material improvement in operating
returns of manufacturing companies in
the near future. Air passenger trans
port has msde some epprecisble gains,
but satisfactory results in this division
must await substantial reductions In
operating costs.
Apparel-Clothine producers will show
only moderate gains over the de-
pressed earnings reported in the first
half of 1880.
Automobiles-Until general business
improvement results in decided ex-
pansion Of purchasing power and a
restoration OF public confidence it Is
expected that motor vehicle demand
will remain of restricted proportions.
Practically all manufacturing units,
however, will undoubtedly report a
considerably better experience for the
current quarter than for the first quar-
ter of 1881.
Automobile parts-Considerab rela-
tive earnings improvement Is in pros
pect for the current quarter, as COM
pared with the decline recorded in the
first three months of the year.
Automobile tires-F'or the entire year
only the most favorably situated units
are likely to show even moderate
profits.
Building-The second quarter prob
ably will make less satisfactory COM
parison than was registered in the first
three months of the year.
Chemical Profits Hold Up.
Chemicals-Pr-hts in the domestic
chemical industry, broadly considered,
continue to hold up relatively well, but
marked improvement in returns must
await q definite reversal in general in
dustrial conditions.
Coal-For most companies prcfitS
probably are still running slightly be-
hind the levels Of last yeer and will
continue to do so during the innle-
diate future.
Copper-Over early future months
shipments will remain at relatively un-
satisfactory levels pending fundamental
Cotton goods-Mill margins will re-
main unremunerative throughout the
major part of the Summer at least.
Electrical eouipment-The operations
of leading units are being supp -rted
to some extent by demand for lighter
items of electrical equipment
Fertilizers-In mos cases proflts Tor
tn. current year will be Of minor pro-
portions.
Food products tother than meat-
For the entire industry 1881 profits
probably will compare quite closely
with the favorable 1880 showing.
Household products-Only a few
branches of the industry-.hose which
produce necezsities-ere experiencing
we'll sustained business.
Lead and zinc-Any quickening In
demand for lead would result in re-
versal of the upward trend OF sup
plies. Earnings of zinc producers Will
continue unsa CisfectorJ.
Shoe Business Fair.
Leather-Average earnings fer shoe
m nulacturers VIII De Gu talieo tnS
YER, although tine extent OF the decline
Will be meas6raply less than for the
general run of Industrial corporations.
Machinery-The Summer decline Oh
49, will prcba bly, be smaller than usual
and the 4 all season will witness rather
- .;lve expansion IN machinery oe-
cnu.
NJ at packing-Meat packers are Sc
curing increased volume, CHI the ave-
reee, but prices 1or Doth live sock
am meats have 6riftea steadily lower.
Stocks of frozen and cured pork prod
ucts on May / indicate q Som-Wnat
overextended inventory position.
Office equipment-Despite relatively
firm price structure. the on1c. appliance
trade probably will be relatively slow
in emerging from the present depres-
sion. producers who rent equipment
are likely to experience Satisfactory
profits during the next few months
Paper-Producers of news print for
the most part, Will have dincuiLJ IN
cov-rIng fi.,e.. charges this year. Other
divisions are i'll somewhat more Ia
voraols position and the tissue paper
AMI some specially divisions are eX-
pecUea to experience continued staDli-
ATTY.
Petroleum-There seems little pros
pect for early restoration OF ADEQUATE
earnings for oil companies generally.
Radlo-Corporate earnings for set
producers will, with few exceptions. be
non-e xisl ent or negligible for the greater
part of this year. Reduced prices for
tubes, and introduction Of some new
ana more efficient types have some
what improved the sales outlook Tor
this branch of the industry.
Third Quarter Awaited.
Railroads-Not until the final quar-
ter of 1891 will there be unmista kable
evidence of improvement over a year
earli,r, and the extent OF such gains
will be dependent upon the amount OF
expansion in general business volume.
Railroad MISUNDERSTANDING OF re-
frigerator ana tank cars Is continuing
in good volume and in the manufactur-
ing divisions, earnings of the gnal
the balance of the industry.
Rayon-Sone evidence is now ap-
pearing of a change for the b tier in
the outlook. A stable demand seems
probable for the Summer months, ccnl-
pared with the sharp decline in pur-
chases which took place a year ago.
Retail trade-Increased first hail year
earnings will be reported, as compared
with the like 1880 period, only III the
case of those variety chains concentrat-
ing in the lower price fielGs, as we'll as
lew grocery systems.
Shipping-Little improvement in rev.
enues of owners and OPP rators Is inoi-
Gated for the final six months of the
year.
Silk-Tha deficits suffered by the
trade as a whole are likely to fall somt =
what short of those registered for the
initial six months last year.
Steel-Marked improvement in pro-
ducers' rsturns is unlikely until the lat
ter part of 1881.
Sugar-At best, not more than a grad
ual advance in sugar prices Is expected
particularly over the remainder of the