The Washington times., 1934-01-26
REPORTS
SHOW FUTURE
DEALINGS

Of the month OUTLOOK Tor various
important divisions of industry is
summarized by the Standard Sta
tistics Company of New York as
follows:
Advertising.-Many companies
which have not advertised for two
or more years are now making
contracts for advertising space in
leading mediums. Total advertis-
ing expenditures in the first half
Of 1884 will be some Is per cent
larger than in the first half of
1888.
Agricultural Machinery.-Both
collections and sales have i'm.
proved markedly over the recent
past, and prospects point to con-
tinued betterment.
Aircraft.-Passenger and eX.
press volumes probably will estab-
lish new high marks during 1884,
but aggregate transport revenues
will rise much more gradually in
view of the sharp cut in mail pay.
ments last summer.
Automobiles Starting the year
with extraordinarily low new car
stocks and aided by a favorable
response to 1884 models, the in
dustry will show substantial ax-
pansion of output in coming
months. First-quarter production
may be some IS per cent better
than a year earlier.
Automobile PartS.-The promis-
ing outlook for automobile demand
indicates a material upturn in
original equipment sales over the
next several months, at least.
Automobile TireS.-Sales vol.
ume should record gradual expan.
sion in the current half year, re.
flecting usual seasonal trends as
well as probable moderate cycli.
cal revival in total casing demand.
Prices may be revised upward in
the near future, but severe compe-
tition is likely to restrict the ad-
vance.
Building.-The use of Federal
funds in construction projects all
over the country, together with
some extension of recent gains in
the residential field, should pro-
vide a relatively high level Of
activity in coming months.
Coal-The anthracite industry
is now beset with labor difficulties
in the northern fields, as we'll as
the possibility of higher wage
costs under the pending NRA coCe.
In the bituminous trade, price
cutting has broken out. despite
regulatory provisions in the code.
Early improvement in profits il
unlikely in either division.
Machinery-Sa1es should re-
Spond favorably during the nexo
three months not only to the stin1-
ulus of public works expenditur ;"
but also to the deferred purchase
on the part of private industry.
Metals (Non-Ferrous) - With
increased consumption and well
controlled production in prospect
for 1884, substantial further re-
ductionS in stocks of copper, as
well as higher prices, are indicated
Improvement in lead and zinc
consumption should again result
in a declining level Of stocks Of
these metals, despite the fact that
production may be stimulated by
attempts to increase the by-prod-
uct silver output,
Petroleum Recent abortion
of agreements designed to improve
marketing conditions, together
with prospects that production of
crude oil will be adequately con-
trolled, indicate definitely larger
earnings this year.
RadiO-The position Of the
trade is improving slowly but prof
its will be slow in developing.
Railroads - Bright prospects
for a continuance of the uptrend
in car loadings and business ac-
tivity reported in the early weeks
Of the new year, and the construc-
tive tone of the Eastman report.
provide a favorable background
for railroad operations.
Railroad Equipment pros
pect of further PWA loans in ad-
dition to the $214,6O7, 900 already
granted to the carriers for the re-
Mobilization Of equipment and
plants, indicates greater activity
this spring.
Retail Trade - Prospects are
that retail buying will maintain a
gradual upward trend during the
first six months Of 1884, and dol
lar sales will make increasingly
better comparisons with the re-
stricted returns of a year ago, at
least up to May.
Steel-SubStantial demand from
the automobile and railroad in.
dustries is now developing. AL
though the possibility of labor
creates some uncertainty, activity
should be vigorously upward in
February.
Sugar-Recognition of Cuba
and expectations of a larger quota
and a lower tariff on shipments
to this country have caused a re-
covery in sugar prices, which may
well be extended during coming
months.
TObaccO-Higher cigarette prices
recently instituted by leading pro-
ducerS should result in definite
recovery from the unsatisfactory
1888 profit levels. Unit volume
gains, however, will be relatively
moderate this year. Higher costs
and the difficulty Of raising prices
without effectively discouraginR