Ever since the disastrous period of 1920-21, merchants and manufacturers alike have endeavored to secure the highest possible profits with the smallest possible inventories. Such a policy, to be profitable, requires very rapid "turnover of stock", and just this phrase has become a fetish throughout U. S. business.

Statistics recently compiled illustrate how successfully this "quick turnover" policy is being followed in respect to the commodities most greatly in demand:

Class Producer Wholesaler Retailer Combined

Clothing ... 2.8 .... 4.5 1.7 Drugs 2.3 3.6 2.3 0.9...

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