STATE OF BUSINESS: Sidewise

The Wall Street Journal this week headlined: BUSINESS IN 15-WEEK SIDEWISE MOVE; BREAK EXPECTED TO BE ON 'UP' SIDE. Evidence to support this conclusion abounded. Such sensitive indexes as scrap steel and commodity prices were up. Steel production at 55.1% of capacity was near the year's peak. Automobile output rose, National Distillers Products Corp. filed the first large industrial bond issue ($22,500,000) since November. And the Dow-Jones industrial stock averages climbed to 149.49, a gain of 13 points from the year's low on January 26.

Most production indexes showed a steady rise...

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