THIS is the fourth and concluding article of a series on the above subject. The first three appeared in these columns on March 8, 9 and 10.
The Stock Exchange has a well-established reputation for sensing a coming change in the conditions of industry long before statistical evidence comes to hand and this faculty seems to have been at work in the late Summer of 193'
It is worth noting that the London Stock Exchange reached its peak and turned downwards long before New York; gilt-edged stock commenced to decline before ordinary shares and commodities were entering their final and spectacular phase when the stock market had already run its course.
The downturn in industrial activity followed long after; in Great Britain, in fact, there has been, so far, no substantial falling-off. This seems to be the normal sequence of events and suggests that the Stock markets may be followed for the first hint of a turn in the tide.
Text read from the printed page and cleaned; old type leaves the occasional error.