Business has proved monotonous and dispiriting.
The chief element making for change or improvement so far is cheap money, and from present prospects this factor seems unlikely to change for many months. Gold imports still pour into the country, and the banks are more concerned to lend than borrowers are to sorrow. Flotation of new securities las as yet been insufficient to absorb the slack.
Public utilities and railroads are in high feather; their stocks are rising steadily in Wall Street; they are planning elaborate and significant mergers. But industrial concerns are very much...
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