The recent fall on the New York Stock Exchange of the price of "Steel common" to the upper 80's has been taken as a forecast that the earnings of the U. S. Steel Corporation for the second quarter of this year would prove disappointing. That this explanation was incorrect is seen by the fact that, although the statement of the Company showed a big increase in net earnings from April through June, 1923, the price of the stock has not materially rallied. Apparently the stock market looks...
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