Business & Finance: Straus v. Pessimists

"New York has been building too fast. The boom is inflated. Rents are coming down. A severe and slow panic impends"—such was the concurrent drift of remarks made a fortnight ago by Walter Stabler, Comptroller of the Metropolitan Life Insurance Co., and of a wise old Manhattan banker, Clarence H. Kelsey, who has seen all the "hard times" in 40 years. They added that they would lend no more money for New York City building.

A slap in the face of smiling Prosperity could not...

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