Business: Shoot-the-Chutes

One night last week there was a rosy sunset in Manhattan. Speculators went to bed happy. In spite of bank troubles in Philadelphia. Cleveland and Detroit (see p. 50), bank clearings had reached $5,564,000,000—33.5% better than a year ago. The Department of Labor had reported its commodity price index at 65% (of 1926). showing its fifth successive monthly increase. Electric power output was 16.4% above 1932, would but for the Pacific Coast's showing have been the highest for all time. Renewed, extra or increased dividends had been declared by General Foods. Owens-Illinois,...

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