Stee! operations (percentage of Stock Outlook: The outlook for the: immediate future continues as uncertain os before. It is felt in many circles, however, that immediate currency inflation is pretty definitely out of the picture and that the Government in Hine with its "swing to the right" intends to pursue orthodox methods of financing and also intends to let industry have its head rather more than has been the case in the past. Many feel that by the end of 4 three months period we should see higher prices for both stocks and American produced commodities. The normal slowing down of business activity is apparently just beginning to be felt and unless the Government furnishes some further type of artificial stimulation it is expected that lower levels of business activity will be seen during the course of the summer. We continue to advice the purchase of certain sound common stocks, second grade bonds and preferred stocks for the medium term. Whereas if the market makes 'a sharp, move it will probably be up-of substantial proportions in the immediate future.
Text read from the printed page and cleaned; old type leaves the occasional error.