Survey of 1937 by Chairman of Chase Bank New York, Jan. 5.
In a survey of 1937, Mr. Winthrop Aldrich, chairman of the Chase National Bank, declares that the December business figures suggest that the decline has ceased and that the business curve is flattening out.
Referring to the rapidity of the decline, he states that there has been no time for weakening the financial structure or exhaustion of the peoples saving which a slow, prolonged decline would have involved.
Mr. Aldrich attributes the slump partly to heavy government spending, but among encouraging political developments he mentions federal tax revision and proposals to balance the budget by economies.—Reuter.
Text read from the printed page and cleaned; old type leaves the occasional error.