Business & Finance: Indices v. Earnings

John Businessman last week enjoyed reading his second big batch of third-quarter earnings reports, nearly all of them pleasing, and again had the headache of seeing most important indices of business declining. Freight car loadings fell off 13,800 cars to only 3.1% more than the same week in 1932. Electric power production tapered off from 5.9% to 5.8% above a year ago. Steel operations fortnight ago at 26.1% of capacity, fell to 25.2%. In October stock prices on the New York Stock Exchange had fallen 9%. Stock Exchange seats were priced at $95,000,...

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