No one seriously believed, during the stockmarket's long slide last spring, that Recovery was over. What was feared then was that the combination of strikes, rising labor costs and higher commodity prices would make for slimmer profits. That fear was by no means without foundation but it was exaggerated, as usual, in the stock-market's behavior. Stock prices have regained on the average about two-thirds of all ground lost between March and June. And by last week enough corporations had reported earnings for the first half of 1937 to indicate clearly that Big Business...
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