The Archive · 1938

Chief Manager

SIR VANDELEUR M. GRAYBURN Branches and Agenctes

Amoy Bangkok Batavia Bombay Calcutta Muar (Johore) Mukden New York Peiping ties and every description of Bankin securi-

and Exchange business transacted, The results of the November 8 elections presage, according to some political observers, greater Congressional opposition to New. Deal regulatory measures. A more conservative tendency was evident in many sections of the country and the radical group within the Democratic party seems to have been losing ground during recent months, Meanwhile the opposing factions in organized labour have made several tentative moves designed to assure peace between the Committee ior Industrial Organization. and the American Federation of Labour.

Most business men are convinced that if such a peace is concluded, there will be fewer strikes and cther acts which disturb a steady flow of industrial production.

The conservative financial magazine "The Annalist" published by the New York Times, is among those forecasting a possible long-range recovery, although warning that it may be preceded by a relapse from present levels,

Text read from the printed page and cleaned; old type leaves the occasional error.

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