Healthy Second

U.S. business looked back this week on a first half year that confounded the pessimists and delighted the optimists by its healthy showing. How do businessmen feel about the six months ahead? The First National Bank of Chicago asked twelve key executives about their prospects. Consensus: 1957's second half will equal or surpass the first in almost every sector of the economy. Area witnesses:

Lou R. CRANDALL, chairman of the board, George A. Fuller Co.: "The outlook for the construction industry is very good. Actual work put in place during the first six months of 1957 is 3% to 4% ahead of last year. This pace should continue for the last six months."

DOWNING B. JENKS, president, Chicago, Rock Island & Pacific Railroad Co.: "A 3% or 4% increase in carloadings and the possibility of an increase in freight rates should enable the railroads to overcome, to a large extent, the burden of higher wages and material costs, thus ending up the year about as well as 1956."

FRED LAZARUS JR.. chairman, Federated Department Stores, Inc.: "This fall probably will show a gain in department-store sales of 2% to 3% over a good second half of 1956."

JUDSON S. SAYRE, president, Norge Division of Borg-Warner Corp.: "Overall appliance volume will probably end up in 1957 as good or better than 1956."

ROGER M. BLOUGH, chairman, U.S. Steel Corp. (see above): "Steel ingot production should approximate last year's total of about 115 million tons--give or take a few percentage points."

ROBERT GROSS, chairman of the board, Lockheed Aircraft Corp.: "Fiscal 1958 defense expenditures for missiles will rise about one-third over the past year. Today there are 40 to 50 major aircraft-missile-electronics contractors. Inevitably there will be consolidations. Such moves will be healthy for the industry and the nation. Aircraft sales for 1957 will total $8.6 billion, slightly higher than 1956."

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