Prophets of future tendencies in business, and particularly those practical seers who attempt to cash their foreknowledge in the stock market, have been considerably bewildered at the outlook during recent weeks. On the one hand, the ordinary signs of approaching depression, such as declining iron production, and falling stock prices and interest rates, are apparent to all. On the other hand, business leaders talk optimistically, merchandising is very heavy and profitable, the railroads are getting some fat around their bones; worst of all, the stock market refuses to decline.
The...
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