Current Situation

The current situation remained static during the week. The average level of industrial stocks scarcely budged over the previous week's. Rails made a trifle better showing. Investors seemed marking time for a clearer prognosis of conditions.

Tardy spring has clouded the field. Motors and steel continued to produce highly, though steel plants, it seems probable, will close a few ovens in the near future. Motors makers still wait to study spring sales.

Generally consumers of all lines seem cautious.