Show BUSINESS t I SUMMER mn LEISURE INDUSTRY While It is traditional to think of summer vacations In the context of relaxation today's summertime leisure activities consume considerable personal energy in a wide scope of highly energetic pursuits They also consume millions of American dollars for the equipment necessary for Cor participation So in a sense a total industry has actually developed devoted solely to summer diversions i time Leisure activities obviously obviously ob ob- ob do not all call for heavy outlays of personal income for Cor equipment but certain expenditures expenditures expenditures ex ex- will be necessary even if only for a picnic basket The picnic incidentally is considered one of the most popular of outdoor pursuits Others including some which have bloomed only in recent years are arc tennis hiking and jogging biking swimming and camping Lower on the outdoor scale in terms of participant popularity would be hunting bird watching hors horseback back riding and photography BACK lACE TO NATURE Camping has always been a recreational mainstay with a trend in recent years to the use of oC motorized campers Projections put the number of such vehicles at 75 million by 1978 1918 Boa Boating ting has seen explosive growth in the past few years with a proliferation of fiber glass hulls and high horsepower engines with some very elaborate homes is also popular This year however may see more emphasis emphasis emphasis em em- on sail over engines due to the rising cost of marine fuels GASOLINE PRICES NO O DETERRENT On the other hand thus f far r in inthe inthe inthe the summer of 1977 adequate supplies of gasoline have fostered a highly mobile motoring public off to the mountains and the seashore in great numbers And to date gasoline prices have had hod little visible isible effect on automobile traffic Thus if the public is in inthe inthe inthe the mood to enjoy its free time it follows that it will spend disposable income for leisure leisure- time gear OUTLOOK It U would appear that recreation as a whole can only lace fate further increases With many companies adopting more liberal literal work policies have increasing time for hobbies and other such pleasures The only possible flaw in the scenario is that runaway inflation could price certain time leisure-time goods out of the market But at least at this juncture no such thing seems to be in the offing With an economy apparently still on the rise leisure companies should possess potential for appreciation at least through this year Following are the opinions of the Research Department of Babson's Reports on representative companies in this business field MIF A Inc typical entity in inthe inthe inthe the leisure line formerly American Machinery Foundry producing in nearly the full spectrum of recreational activities Among its products are bowling equipment bicycles motorcycles motorcycles motorcycles motor motor- cycles sailboats including the world famed Sunfish lead Head skies and golf tennis and archery archery ar ar- ar chery equipment Leisure goods good accounted l for 70 1 million of sales bales last year C Coleman o 1 e m a n C More l o. o M o r e specialized in the field Coleman oleman is a major factor in outdoor gear including a broad range of camping products and heating healing and air conditioning mostly for motor mobile-motor homes Howard Johnson With its familiar roadside restaurants and motor lodges is a awell awell awell well known oasis for the motoring public Barring Marring a recurrence of the critical 1974 gas shortages the company should record good travel traffic and earnings gains Of the three companies mentioned briefly above the Research I Department of Hanson's Hansons Reports is recommending recommending mending purchase of the stocks of Coleman Co and Howard Johnson at this time for fol in 10 ll vectors tOrl with adequate cash cush reserves lf A report on either or both of these C fine companies may be obtained free of charge by writing to Babson's Repot ts Ire Inc Wellesley IIi Hills Ils Mass Jabs |