Wherever two or three tycoons were gathered together last week, they made speeches about the state-of-the-nation, all as optimistic as possible (see p. 18). Most important gathering was the Seventh Conference of Major Industries, in Chicago. Most arresting contribution there came from President Robert Elkington Wood of Sears, Roebuck & Co. He recited the following little-realized facts, significant to students of the nation's buying power:
In 1860, 46% of the U. S. population was under 20 years of age, 9% over 50.
The average age is increasing so fast that by 1950 only 27% will be under 20, 28% will be over 50.
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