Business: Current Situation: Jul. 9, 1923

While commerce and industry are experiencing their usual Summer slowdown, no little interest is expressed regarding the outlook for Fall. Two months ago opinion was practically unanimous that considerable activity would be witnessed in the Autumn. Since that time, however, the drastic liquidation in the stock market has created doubt.

On its face, the declining stock market, usually a reliable trade barometer, would argue a decrease in general business activity in the coming months. On the other hand, the security market was undoubtedly inflated, and its recent fall may therefore be due...

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