Business was, last week, marking time and watching the stockmarket for indications as to future developments in trade and industry.
Everyone can, of course, see what is going on in the stockmarket, at least on the surface. Trading is becoming less active, prices are stabilizing on a lower level than obtained a few months ago. This much every ten-share trader can see. But the inner significance of it, the perception of the economic forces which are responsible for it—these are less obvious.
The truth is that two contradictory forces are now at work in stocks,...
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