The Tacoma times. [volume] (Tacoma, Wash.) 1903-1949, 1939-08-01
BEHIND The
TICKER

ROOSEVELT LnAt neCauoe good
many industries are doing better
during dull seasonal periods. that
because the British frightened Hit
Ter from using Czech tactics to take
Danzig, that because labor Ia CIV
ing some ground In favor of busi-
ness interests. mild but genuine
business recovery Is under way In
the United States.
The whole setup, however,
doesn't mean that the Dutch are
buying American shares. There's
still some fear OF possible Euro
pean war. But that problem is ex-
pected to be clarified by Hitler
when he talks at the Nazi party
annual rally on Sept. at Nurem-
berg. Germany. Should Hitler not
be threatening, the Dutch are ex-
pectcd to enter orders for American
equities.
New York bankers agree with
the Dutch view. It's all agreed
that II the present war scare blows
over as result of the Hitler
Sept. 2 talk. that all markets will
show Improvement for the balance
of the year. II seems, too, that
big business doesn't fear President
Roosevelt as long as congress car
ries on its fight. II so. recovery
perhaps mild-is ahead.
Test Due-Word is rife In come
quarters that there'll be no further
steel price cutting this year. Your
correspondents informants aren't
so certain about that. This because
the price structure isn't any too
firm In structural shapes. plates
and reinforcing bars. Henry Ford
Is still shopping for better prices
on $4,000 tons of flat-rolled items.
Most automobile companies are
set TO book their steel orders for
1910 models. These bookings will
be made within the next two weeks.
It's during that period that the
current steel price structure will
60 through the acid test.
Preparing - Sewell L. Avery,
chairman Montgomery Wards
board of directors, isn't the only
man high in business and financial
circles who is OF the opinion that
we have passed through the
worst" and are now headed for
better times.
The belief in executive offices is
that business will prosper no mat
ter who sits In the White House
over the next four years. They all
find that the public wants recov-
cry and not political promises. It's
believed that business will 60 ahead
despite political movements.
Business surveys show that the
public has money in hidden places
and that buying will start as soon
as the political depression cloud"
overhanging the country is re-
moved. Large organizations are
looking forward 10 consumer buy
ing during late 1889 and through
1910.
Corporate heads don't care what
political party claims the credit. |
They know that a recovery move
ment is about TO get started and |
are preparing without making a
lot of noise about It,
Checked - There were a state |
legislatures In session this year.
Despite the fact that some so anti
chain bills were introduced in "a
legislatures. not one new chain |
store tax bill was passed. Security
interests say that that's proof that |
the trend to tax chain stores has
been checked.
Reports Are That - Pullman's
third quarter net expected to bet
ter that Of second, three month
period (. Monarch Machine Tool /
to operate at capacity for balance
Of year-this official At cur
rent levels California Packing
adverse conditions
Pcre Marquette Railway not |
expected to cover fixed charges
this year Blaw-knox received /
a substantial sheet mill equipment |
order from Tata Iron & Steel,
India
AS, II and when Chase Bank .
stops liquidating its holdings of
goth Century-Fox Film. shares will 4
observation-disclosures Ohio I
Oils 81 annual dividend rate is
safe-full year net estimated at .
S1.S5 a share Bayuk Cigars /
second half net will better that of I
first six months--common stock
holders can't be given more than
81 annually in dividends while
preferred shares are outstanding
Long-pull buying coming into
Twin Coach Tubize- Chatillon
to clear preferred dividend arrear-
ages this year . &. Mcintyre Por-
cupine to vote 81 dividend extra
at fall meeting: already reported
here Armstrong Cork to con-
tinue its liberal dividend policy
And, that despite better steel in
dustry operations, few companies
viii show much of a profit this
year.
Someone wants TO rent your
spare room. Reach them with q