| Show Mining Financial News BETTER TRADE OUTLOOK SEEN Standard Statistics Survey of Business Prospects Is Isi i Fairly Cheerful t 1 NEW YORK Sept 4 The 4 The first o of the month outlook for various divisions divi of ot Industry is summarized by bythe bythe bythe the Standard Statistics company of New York as follows Advertising Improvement In newspaper newspaper news news- paper lineage while more prompt than then magazines in responding to the business upturn recently has been at ata ata ata a relatively slower pace gradual further further further fur fur- ther betterment however is indicated during the fall months Agricultural machinery machiner Factory activity in the agricultural equipment Industry during recent months has shown hown a moderate increase over the thelow thelow thelow low 1932 level and the full year output output output out out- put should at least equal the preceding ing years rears total Aircraft The prospect of continued continued contin contin- cd rapid growth o of traffic together with the outlook for gradual lowering of ot operating costs suggests that the air transport industry eventually eventually even even- will attain a supporting self basis Automobiles Passenger automobile automobile automo automo- bile and truck activities have shown evidence of ot a belated seasonal downturn downturn down down- turn although the curtailment thus far tar has been only moderate Automobile parts Production by byth th this industry has been maintained through the summer with but minor seasonal slackening Automobile tires While tire sales now are arc showing definite recession from Irom the recent high levels factory activity continues to range materially above the corresponding 1932 ence Building Residential and nonresidential nonresidential building for tor the first part of August was seasonally lower than for forthe forthe forthe the like period a month c earlier but public works and utility operations registered a sharp increase having reflected the initial allotments under the federal construction program Coal While the bituminous coal strike in early August temporarily interrupted the sharp of production production pro pro- operations r recently have been r resumed on an expanding scale Anthracite production during recent weeks continued to make a more fa favorable favorable favorable fa- fa showing than for lor the correI corresponding corresponding corre corre- I period last year Electrical equipment Orders for electrical appliances and small machinery ma- ma chinery are being received in relatively relatively rela rela- heavy volume and these lines probably will constitute the bulk of activity for this industry during the remainder of 1933 Food products Indications are arc that the tho upward trend of consumer purchasing purchasing purchasing pur pur- chasing power will eli eliminate any material material material ma ma- contraction in sales which otherwise oth oth- might result from higher re retail retail retail re- re tail quotations Moreover advances I in selling prices likely will provide full lull compensation for lor increased raw I material and labor costs Leather and shoes Although shoe production during May 1 June and July was approximately 50 per cent greater great great- jer er than tor for the like interval a year earlier arHer August statistics undoubtedly i ivill vill register a substantial recession In Inthe inthe the rate of gain Medicines Aggregate trade profits are running approximately 10 per cent greater than in m the third quarter of 1932 and indications are that the spread should be moderately further enlarged in the final three thre months For or the full year most drug units will record a slight increase increase-in net earnings earnings earn earn- ings over the returns of 1932 Radio Although the electrical equipment code has been adopted by the radio trade it is doubtful that this development will promptly correct the prevailing demoralized condition in the industry Railroads Following the moderate recession which began In the second half halt of ot July railroad car loadings recently have shown renewed sion Railroad equipment Bookings o of the railway equipment manufacturers re recently have shown some improve improve- merit ment In addition the demand for lor re repair repair repair re- re pair parts has increased sharply R Retail tan trade Nearly all types of retail stores are widening their gains in dollar volume over the levels of a ear earlier despite the fact that dur dur- ing August and September of last year yeara a sharp share temporary spurt in activity was WM witnessed r Steel Steel activity is expected to continue at relatively satisfactory levels during early future months al al- al though costs will be higher under the code the firm price structure should be Ci a partial offset in operating results Sugar Profits bf vt most sugar suga-r companies corn como panics for the full current year ear should be substantially in excess of last years year's returns especially in the case of domestic domestic do do- beet units and Porto RIcan reducers producers Cuban producers on the theother theother other hand are expected to report additional deficits Textiles In order to avoid the payment o of higher prices made necessary necessary sary iary by the increased costs under the code operation converters and distributors dis dis- dis of textiles accumulated lar latte laige e inventories during the late spring and early summer Present Presen stocks in second-hands second therefore arc are areAt of At such proportions that mills are axe receIving re rc- little new business and a let let- down is gradually resulting sum dent cleat unfilled orders are on on hand nevertheless to permit the maintenance maintenance maintenance nance of operations at a satisfactory rate through September Theaters Increased employment and higher wage scales recently have hav found reflection in larger theater at at Improved film quality also has been en a contributing factor It is expected t that at at attendance records will wll snow continued betterment during the coming comine fall tall and winter Tobacco Despite the substantially smaller maner profits being secured by the leading producers on present wholesale wholesale whole whole- sale prices larger sales vol umes and the possibility of a price pric increase lSe allowed under the industry's Indus indus- try's modified blanket code justify I the expectation of substantially improved im im- im proved earnings over the longer term |
