Last week two New York Stock Exchange seats were sold by disgusted broker-owners for $33,000 each, lowest price since 1899. Even in 1933, Wall Streeters paid up to $250,000 for seats. But by last week, the 26th of U. S. industry's post-Flanders upward trend, it looked as though Wall Street was one place in the U. S. where the defense program was definitely depressing.

Prolonged slump has wrought many changes in Wall Street. Lunch-hour groups of pallid clerks cluster about skyscraper entrances, talk of their latest "Scotch Week" (forced leave) in subdued tones....

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