August's advent revealed no improvement in the general level of U. S. business. Although shoe factories and wool mills were busy, basic industries remained prostrate. Earnings statements continued to make mostly poor reading.
Carloadings for the week ended July 25 should have shown a seasonal gain over the preceding week. Instead the total of 741,000 cars was down 15,000 from the week before, down 177,000 from last year.
Export copper, c.i.f. (cost, insurance, freight) to European base ports, was reduced from 8¼ to a new low of 8¢. Sales were small. Domestic copper...
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