The status quo of business can often be determined by the prophecies of various business groups. Some manufacturers are stoutly insisting in public that the stock market no longer accurately discounts the future, while privately they are trimming their sales for 1924. Most merchants, whose sales have not yet started to decline, apparently foresee limitless prosperity ahead. A prophet of a different sort is Leonard P. Ayres of the Cleveland Trust Co., whose predictions as to the trend of business have in recent years proved so accurate and courageous that his...
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