STATE OF BUSINESS: Between the Halves

Last week, wheat sold at Liverpool for less than at any time on record, July corn sold at Chicago for less than at any time in six years, October cotton was quoted at New York for 1½¢ less than the week before. The auto industry was in its summer stagnation period. And out from under U. S. business was knocked 1939's firmest prop: building's spurt to new monthly highs. The Annalist reported that building—earlier in the year up some 70% from the 1938 low (adjusted seasonally), and almost 25% from the 1937...

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