During the past fortnight important U. S. corporations in many lines of business reported on the first quarter of 1931. Few bright spots illuminated the depressing picture of what happens when industry idles along at a pace far below capacity. Even so conservative a company as General Electric failed to cover its dividend requirements. Fearful of more and larger dividend reductions, the stock-market sank to new lows while first-quarter reports were being issued. Freely asked was a question which a year ago would have seemed ridiculous: "Will United States Steel maintain its dividend?"...
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