The Washington times., 1934-05-31
OUTLOOK MIXED
FLOR VARIOUS
INDUSTRIES


industry is summarized by the
Standard Statistics Company, of
New York. as follows:
Advertising - Both newspaper
And magazine lineage continue to
Eun we'll ahead of a year ago.
Agricultural Machinery
Drought conditions should largely
be offset by the rising scale Of
benefit payments and higher
prices to farmers in areas pro-
viding the chief markets for
farm machinery.
Aircraft-DeSpite the return Of
air mail carriage to private lines,
lower average rates and rediStri-
button of this business among a
larger number of bidders point to
unsatisfactory earnings for a con-
siderable time.
Automobiles - Production has
feceded fully Is per cent from
the early spring peak and fur
ther marked curtailment is in
prospect.
Building-Sales of building ma
Eerials and supplies should main
tain a relatively favorable level
in coming weeks, but new con-
tract awards for June may con-
Einue the downtrend registered
since March.
Coal-The possibility that re-
coSsion in general business will
not greatly exceed seasonal pro-
portions foreShadowS the main
tenance of a relatively favorable
level of bituminouS coal output
during the next few months.
Although the usual seasonal sum-
mer decline in anthracite will
undoubtedly be witnessed, pro-
duction should exceed moderately
the low rate of last year.
Electrical Equipment-Concen-
Eration of activities in the lighter
and household appliance lines is
likely to continue for the near
term, while the fairly active
market for such products should
result in better earnings for the
second quarter.
Food ProductS-Production prob
ably will continue at a level
slightly higher than year ago.
Better prices prevail in most lines
and the demand for nationally
advertised quality brands is re-
Eiving.
Leather and Shoes-Shoe pro-
duction will remain at low levels
during June, but a seasonal
pickup should be in evidence
lAter in the summer.
,,Machinery-Current labor dis
nutes probably will lessen ma
chine-tool purchases over the
next few months. Early prospects
are most promising in the con-
gtruction, oil equipment, and
Diesel engine lines.
Medicines-Sales of drugs and
RGied products should continue
well above 1888 levels, although
the rate Of gain probably will be
diminished to some extent.
Metals CNon-FerrouS)-DeSpite
the ineffectiveneSS of the copper
code thus far in bringing about
higher prices, the gradually i'm
proving statistical position Sug-
geStS that moderate betterment
will be shown in the intermediate
future. Price reductions in both
lead and zinc should provide
stimulus to demand.
Office Equipment - Receding
business confidence at this time
suggests the probability that the
current seasonal sales decline
will be extended through the
summer.
'Paper-Continued stability Of
prices and relatively quiet mar
ket for most products appears in
prospect for the coming month.
Radio-Selling activities remain
confined to the all-wave sets and
the automobile radios. Better
than average returns, however,
will be witnessed by those radio
concerns whose activities are
diversified by such interests as
communication and broadcaSting,
or by outside lines such as re-
frigerators and automobile acceS-
Eories.
Railroads-Railway traffic con-
Hnues to remain well above the
aggregate of the past two years,
reflecting the improved level OF
business activity. Prospects OF
curtailed wheat tonnage over
nearby months as a result of the
drought, should be offset to some
extent by higher grain prices and
the continued heavy movement OF
ore and coal to lake ports.
Railroad Equipment - Leading
manufacturers have a fairly sub
stantial backlog of business as a
result of PWA loans to the rail-
roads for new equipment. Addi-
tional orders will depend largely
on further appropriations of Fed
eral funds and the extent of the
recovery in rail earnings over
the balance Of the year.
Retail Trade-Current price-un-
eertainties are retarding recovery
Of sales volumes, although con-
tinued gradual gains are in i'm
mediate prospect.
Shipping and ShipbuildingS-
Foreign traffic remains at low
aevel, while ship movements on
domestic coastal and intercostal
ranges are restricted by labor diff
ficultieS. Summer prospects for
the latter trades, however. are the
hast of the last three wears. Naval