A bullish item last week was an extra dividend by National Lead Co., together with profits of $10,000,000 against $6,000,000 in 1928. But in the statement of Lead's president, Edward Joel Cornish, were bearish notes. Sales of babbitt metal, of which this company is the largest manufacturer, dropped 35% in December and 45% in January, compared to a year ago. Since babbitt metal's chief use is in factory wheels, it is evident that the wheels have slowed up.
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