Current Situation

General business continues on its even keel. Stability appears to increase and the weaker departments of trade improve, while the stronger refuse to develop boom conditions. Secretary Mellon's cheerful and optimistic report (see NATIONAL AFFAIRS) no doubt expresses the sentiments of the average U. S. business executive.

In, a few weeks, however, predictions for 1926 will be in order, and it is likely that in some respects they will not be entirely bland and serene. Probably the greatest question for the coming year in domestic commerce is whether the existing volume of building construction can be maintained. Undoubtedly direct orders for building materials, as well as the spendings by the many prosperous members of the industry, have proved a huge "back log" to the general prosperity. It also seems certain that any sharp cessation in building would prove hampering to the general course of industry and trade. This point is a good one to watch for in the numerous "outlooks for 1926" about to be revealed to the public by prominent business leaders at New Year's.