Evening star., 1963-05-17
BUSINESS TRENDS
Economist breaches
Optimistic Caution
BY CHARLES COVELL
Star staff Writer

Cautious optimism has been the feeling in much of the
10 nave little fear Of repetition of 1925 BLACK Monday
ana consumer spending particularly in automobiles has
tnued at high level. =
mas dfferent of putting it, Speaking yesterday to the
National Industrial Conference Board York he said
tious optimism"
1T is the caution that needs be emphasized at this
time rather than the optimism" Mr. Tongue explained
While pointing retail sales of $2O4 billion in March
1853 were up Is per cent from the February 1861 level
OF this year were "a cent of dsposabe income
or around the top Of the range for past dozen years.
M Tongue added that two other factors stressed
neeG Tor caution One is the heavy insalment
credit which experience suggests may be past its peak and
the fact that consumer buying appears be cenered in
automones whose rate of sales very difficult to predict
Much OF Mr. Tongues optimism is predicated on hopes
OF tax cut 1t is deferred fails to he cautionary
factors would be reinforced added If enacted a" believe
1854" w 'O'""'' 70 ''r0NS consumer buying well into
the record Of two of the big variety store chains ran
counter TO the trend in spending during the first quarter
j. j. Newberry Co. and Nesner Brothers. Inc a chain
based in Rochester Y both omitted payment Of quarterly
olVloenoS, citing the need to conserve cash. :.
March footwear production Of 5S5 million pairs was also
down per cent over the same month last year. perhaps
rejecting manufacturers worry the rising tide Of
imports. ~ ~
On the other hand the National Electrical
Association reported factory shipments of most home an
planes rose during the first quarter over the same three
months in 1862
LNoUOHai NoLlSuHler rlnance Association. head
quarered here points out that modern equipment and ad
Vancg technology are rapidly making the high school Drop
out a Man of Extinction" E
The shame is that many dropouts could with minimum
OF training qualify for increasing numbers middle range
Joos ror Skilled craftsmen and techncians" it
Inc association says that for example between 1850
and 1875 the number Of jobs for mechanics reparen
building trades craftsmen skilled metal workers and ore
men may increase so cent 1875 industry
and private households will need million skilled workers
construction activity will require s75 million and the
technicians working with colegetraned engineers and
scientists may have doubled
Counseing can guide people from dropout decision
and into training for occupations for which thew have
aptitude" the association adds.
In brief: =
Chicago hotelman has found one answer to the M
era Revenue Services scter approach expense
business lunches He's promoting business breakfasts
Ineyre cheaper Only press agent could come up with
this He electric toohbrushe donated of
Kept smiles bright in the American expeditions ascent of
Mount Everest An inflatable paraglider named be-
cause combines both the parachute and glider has
been made BY F. Goodrich space flight test at White
sands Proving Grounds New Mexico Accordion for
launching the batlke vehicle will measure the number and
size OF mcrometeooid particles in space Goodrich says this
information vital to the Nations manned landng
program.