The General Trend

During the past week the current financial and business situation changed little. Production, particularly in steel, oil and automobiles, remained at high rates, but with a detestable tendency to decline. The stock market remained dull and heavy. Cotton and wheat were firmer. The slackening tendency observable in business generally is normal for this season of the year, but business leaders are inclined to think consumption has begun to overtake production, and that further increases in the rate of output would be for a speculative purpose alone. Wages are generally rising, however, and in general profits in industry and trade seem likely to diminish. The rise in sugar, with its considerable political reaction (see page 2) provided the center of interest and discussion.