State of Trade

The clock of business conditions has hands but no numbers. It also runs both ways. In frequent hurried glances business clockwatchers must make a good guess at both the time of day and the direction of the hands. There are, however, a number of cabalistic symbols on the face which help them guess. Last week their glances took in these symbols:

P: Reflecting confidence in the dollar and the improving position of debtor corporations, bond trading on the New York Stock Exchange swelled to the largest weekly volume in ten years--$125,000,000 par value. Domestic bonds made the best gains since April. Stocks broke out of their long rut and approached the highs of the July bulge. Heavy trading sent Stock Exchange seats soaring $24,000 to $150,000.

P: Carloadings were up nearly 9% from the same week of last year, electric power production 10%--37th consecutive advance. Steel mills were operating at 35% of capacity--highest level since October.

P: Newspaper advertising for December showed a gain over last year of 2.4% in retail lineage, 37.8% in general lineage. Rayon production last year was up 54% to a total of 207,000,000 Ib.--a record.

P: "The unseasonally high level at which retail distribution is being maintained, the broadening of the wholesale buying to nearly double last year's total in some divisions, and the rapid rate ai which industrial operations are being resumed form some of the more reassuring phases of the major trends."--Dun & Bradstreet.

This file is automatically generated by a robot program, so reader's discretion is required.