Business: First Quarter (Cont'd)

"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:

First Quarter

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...

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