"The present outlook is very poor." With this gloomy statement. President Walter P. Paepcke of Container Corp. last week announced his company's omission of the usual quarterly dividend. Container's first quarter net had plopped from a 1937 profit of $626,970 to a 1938 loss of $53,198. With a few exceptions the same sort of thing was being experienced last week by almost every other U. S. industry. Samples:
Durable Goods 1937 1938
U. S. Steel $28,561,533 d$1,292,151
Bethlehem Steel 8,293,833 994,908
Jones & Laughlin Steel.... 1,982,394 d 1,269,725
Westinghouse Electric & Mfg. 5,341,512 2,031,230...