Tel. 300-301.
Uncertainty over the A. ud reply to Chancellor Adolf Hitler's peace offensive kept most traders on the sidelines on the New York Stock Exchange again yesterday but prices advanced irregularly, indicating that some traders believe the peace offer will be rejected.
Wall Street is doing some calculate ing regarding the probable cost of war and the amount of money likely to be spent in the United States. It is believed the cost of another general European outbreak, including the estimated valuation on human life, would be likely to exceed $400,000,- 000,000 the cost of the World War.
One estimate places the net worth of the Allies' realizable assets at $125,600,000,000. Consequently the Allies would. require credits if their war costs approach or exceed the costs of the World War.
In view of the Allies unpaid debts to the United States and the Johnson Act, barring further loans to nations in default on payments to the United States, many Wall Street experts are beginning to believe that war orders are likely to be more harmful than beneficial to American economy.
The Street is inclined to believed that the next crucial date will be around January 1, 1940. Prosperity is expected to make further advanc: if present levels are maintained within reasonable limits, if consumption increases and increases in South American trade offset the loss of some European markets. Otherwise, the depression will probably return, it is believed.
Tradirg on the Exchange yesterday was the slowest in five weeks and favourable domestic news was virtually ignore—United Press,
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