The American Iron and Steel Ins tute's estimate of steel mill activity for the week being placed at 364 per cent. of capacity, showing a rise of 12.7 per cent, which is the highest level recorded since last November, gave an impetus to a rousing market. Advance predictions from steel circles indicate the possibility of the operating rate improving to around 50 per cent, to 60 per cent. before next September, which might preclude further talk of wage productions. Considerable public buying was noted. Copper prices are improving, while building operations are moving higher. Unfavourable factors were: business failures show rise; the decline in retail advert ing: and, gasoline price wars.
Text read from the printed page and cleaned; old type leaves the occasional error.