Washington, March 28
There is every indication of soundness with regard to general business conditions in the United States, Mr, Thomas Lamont of J. P. Morgan and Ca, said in a statement here to-day.
The underlying conditions are all sound and for this reason any cession in the Stock Exchange in New York should not have an adverse effect on the existing com. mercial and industrial prosperity, Referring to Tuesday's break in prices on the New York Stock Exchange Mr, Lamont said: "Busi" ness is in strong hands and well entrenched, The big business me terests are not borrowing on a large scale. Loans to business now are chiefly for certain seasonal purposes."
The banker, considered one of the most authoritative of American commentators, further said that if high interest rates are continued for a long period they might cause some hesitation in the buildings me dustry.
Mr. Lamont did not comment on reports that he represents a group which is negotiating for purchase of Radio Communications, Me. from the Radio Corporation of America on behalf of the International Telephone and Telegraph ComUnited Press, Rembrandt 2 tion of making the boyeott_ stra er. Unoficial figures for February show that Japanese imports for th month amounted to about P.1,000
V00, as compared with a.2,000,- 000 customary figure, or a 50 per cent, drop.
"This movement peaceful one. participated by inereasagg April 1.
Wheat, No. 520 haul, which cepted as par, closed to-day with! the following tions: May
ber 1 duly Septem.
Storms throu prevented _outsid cotting their selling
Text read from the printed page and cleaned; old type leaves the occasional error.