STATE OF BUSINESS: The Boom & Tight Money

¶ With steel operating at 95% of capacity last week and pouring a near-record 2,707,000 tons, automakers scheduled their highest production in three years.

¶ Railroad carloadings jumped 14,260 in a week to 483,012 cars, some 3% better than a year ago.

¶ Department store sales were 9% over the corresponding week last year.

¶ Following settlement of the steel strike (see NATIONAL AFFAIRS), the stock market jumped six points to 685.47 on the Dow-Jones industrial average, eased back at week's end to 675.73.

The week's biggest worry was over tight money; interest rates were edging up all along the line. Led by C.I.T.,...

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