The Current Situation

In the stockmarket, which has lately been the band ahead of the Business Prosperity Parade, a purely technical reaction has occurred. Meanwhile, industrial and commercial news continues to grow more favorable. Commodity prices at wholesale are experiencing a sharp rise. Gasoline is being marked up. The steel industry is operating at about 85% capacity, while other metallic industries are doing well. Automobile companies, despite keen competition, anticipate good business this coming year. Except for a handful of roads, among them the St. Paul, the railroad outlook is singularly good. Moreover, the absence of sensation in business at present is a sign of continued rather than merely brief prosperity.

The foreign news continues hopeful, although United States politics may intervene to check financial cooperation of the fullest character from this side.