Evening star., 1932-01-05
INDUSTRIAL TRADE
TRENDS ANALYZED
Current Indications in Va
rious Lines Given by
Statistics Company.
special pispatch to The star.

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-the-year
resume Of the outlook for important
lines as follows.
Advertising.-Ea for the initial
half of 1882 probably will be smaller
than the total recorded for the 1lrSt SIX
months Of 1881. When a trade revival
does get under way it will be rapidly re-
f7ected in newspapers Magazines VIII
experience benefits more slowly, because
of their 60-day clOSingS
Agricultural MaChinCry.-Pen
significant upturn in domestic taTm pur-
chasing power, a Development not IN
prospect before 1882 haryestlngs at the
earliest, there seems no basis Tor eN-
pecting sustained Improvement IN the
equipment trade.
Aircraft.-The industry faces an un-
favorable outlook for 1882.
Apparel el.-UnSatiSfaCtOry returns VIII
continue to be experienced by manu1acr
turers during the initial six months OF
1882.
Automobiles Both sales and profits
Of manufacturers for the first half OF
1892 will probably range well below the
similar 1881 experience. Over the longer
term, leading car producers are eH-
pected to show substantial earnings
gains.
Automobile Parts.-A few Of the more
favorably situated producers should be
able to make a substantially better than
average showing.
Automobile Tires.-Profit margins for
an indefinite interval Will be so narrow
as to preclude earnings Oh the junior
-g "a ciT1O concerns R2-
placement tire demand is expected TO
continue Of small proportions well INTO
Building.-The outlook for the first
half Of 1882 is unfavorable and total
construction for this period probably
will fall considerably below the level Tor
the like six months of 1881.
Chemicals.-With the exception oil
carbon black and fertilizer trades, the
first half-year profits outlook Tor all OF
the leading chemical divisions IS reIa-
lively favorable.
Coal-Demand for anthracite during
the early part of 1882 will depend
largely upon weather conditions. Little
Improvement in demand for bltumInouS
can be expected during that period.
Electrical ACKNOWLEDGEMENTS in
come in this field for the first half OF
1882 will probably be considerably be-
low that experienced in the like interval
of 1881. The industry is expected, now
ever. to remain one Of outstanding I'M
portance for a long period OF years;
Food Products Other Than Meat
Concerns engaged in bread baking ana
canning Of fruits and Vegetap!eS are
closing the wear with returns below the
1890 levels, and it is expected that de-
pressed conditions will prevail during
the initial half of 1882, at least. Pros
meets for early 1882 remain relatively
favorable, however, for producers OF
package foods, dairy products, Hour ana
Ieather-Although total 1882 shoe
OUTPUT quite probably will fall mod
erately beneath this years levels, earn
ings are likely to be maintained at re-
latively satisfactory levels.
Machinery all lndlcatlohS Ihe
industrial machinery companies are
faced with an entirely unfavorable out
look for the initial half of next year.
There seems no early prospect OF
broad recovery in demand for machine
tools ..,..:..s
Meat Packing.-Depresse conditions
in this line will probably prevail during
the initial half of 1882, at least.
Medicines and Drugs-The near term
outlook for the trade is regarded as
better than average.
Metal ontainers.-Takln9s OF con-
tainers will probably be moderately less
during the first six months OF 1882
than during the corresponding period
of 1881. Lower prices for cans are
likely in the early part Of the year,
Metals Non-ferrous) 1t is doubtful
that profitable levels will be attained for
even the low-Cost copper producers DUR
ing the first six months of next year.
Lead and zinc producers probably VIII
be able to maintain earnings approx
mately at current levels during that
period Moderate improvement IN
earnings of silver producers Is expected
during the initial half Of the new year
Office Equipment. - NotWlthStanani
the relatively firm price structure IN
the industry. earnings Of most producers
during the first half Of 1882 doubtless
will decline substantially under those
of the corresponding 1881 period
Paper-The outlook for the neWsprlnt
division points to a level OF income IN
the first half of 1892 even lower than
the 1881 returns. Prospects for other
divisions are also unfavorable.
Petroleum.-In general the industry
faces the early publication OF an un-
satisfactory series OF annual statements
and continued improbable operations
during the medium term future.
RadiO-A number of the weaker
units probablv will be eliminated during
1882 because of the virtual imposslblllty
Of realizing profits.
RaiIroadS.-A substantial expansion
in traffic must be witnessed before JAe
carriers can report significantly i'm
proved earnings. Such development
is not in prospect during the early
months Of 1882.
Railroad EQuipment.-There will be
very little buying Of equipment III the
coming SiX months.
RETAIL TRADE.-During the COM
jng wear trade vii continue to be re-
st~i-t-d. Retail price levels VII be
Substantially LIVER than a year previous
and dollar sales results during the tlrSt
and probably the second quarter OF
1882 will not compare favOrabiy with
the corresponding 1881 results. Further
benefits from operating economies
should. however, become apparent.
SHIPPING. G.-ODerating results OF
even the most fayOrably situated or
paniZations viii remain at an unSatlS-
factory level during the initial hall OF
the year.
STEFL.-Under the combined influ-
ence of restricted sales and unrCmuner-
ative prices, the general outlook for
steel company profits during the COM
ing half year is poor.
SUGAR.-OnIy slow improvement
in raw sugar prices is expected at
brzt during the first half Of 1882
TEXTIL ES.-The preliminary out
lock for the trade during the initial
half Of 1882 offers little promise Of
material betterment.
THFATFRS- Earnings in the first
half Of 1882 will probably fall some
what below those recorded in the like
interval Of 1881. Considerable basic
progress has been achieved, however,
by the motion picture industry
TOBACCO Irregular cigarette con-
SUMPTION tendencies probably will be
evidenced during the early future and
it is quite likely that cigarette with
drawaIs for the first half Of 1892 will