Unfavourable business news made traders bearish, with many predicting that there would be a sharp test of this year's lows made during March. Favourable factors included: commodity trading increasing in London; a demand for copper; bumper crops aiding railroads; and the settlement of the Akron strike. Unfavourable factors were: stool operations being down ten per cent; May stock trading being the lowest in fourteen years; and, the report that the Reorganisation Bill will not be reintroduced.
From "Barrens" by Courtesy S. E.
Levy & Ca.
Following tangible developments, market leaders made new lows which was the worst feature of the weakness, since it revealed the nonexistence of immunity to bad news which is a characteristic of the bottom ofa recession, The conspicuous weakness of farm equipments and coppers, after previous strength, was mot due to short-selling.
Large blocks of Commonwealth
Text read from the printed page and cleaned; old type leaves the occasional error.