Santa Fe Railway in deferring payment of interest on adjustment of 4 per cent. bonds was taken discourage ingly by the market. However, the Street noticed selective buying. Westinghouse Electric reported a profit for the first quarter. Other bright features were the improvement in the French political situation, a decline in gasoline stocks and indications that there is acceleration in some lines of business, Unfavourable factors were President Roosevelt's opposition to tax revisions proposed by the Senate, poor steel industry prospects the immediate future railroad situation being more critical and Faster trade being reported nearly ten per cent, below that of last year.
Text read from the printed page and cleaned; old type leaves the occasional error.