A. T.&T. Forecast?

Most large companies have special staffs devoted to the task of studying future business conditions. For years it has been known that American Telephone & Telegraph Co. prepares such a report. But while A. T. & T. of necessity assumes responsibility for shaping its own policy, it will not attempt to aid other businesses by publishing its forecast.

Last week in Wall Street there was excitement over the news that A. T. & T.'s forecast had leaked out. Great was the desire to see opinion of the No. 1 Corporation. But the privileged few who saw it said little. But in the midst of the discussion, the New York Telegram wrote: "One of the largest public utility companies in this country has just completed a confidential business forecast. . . . The following table shows the trend of business as foreseen by this company:

"Month Compared withNormal*

"January, 1930 off 8%

July and August, 1930 off 17%

September, 1930 off 15%

November, 1930 off 10%

December, 1930 off 8%

February, 1931 off 5%

July, 1931 even

December, 1931 up 2^%

* "Normal is based on the average for the past ten years, with 4 per cent being added each year to take care of normal growth."

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