Trader reiterates that the dullness implies the end of liquidation and that lethargy is not usually the forerunner of sudden dips. Developments, on the whole, are reassuring for the Spring business outlook.
The new lows for utilities discount the pending integration of nine major holding companies, but hearings may take two years before the final results are known. Washington is not expected to destroy legitimate values, and unscrambled senior securities may be worth more.
Capitalistic and investment fears are depressing the market, but fear cannot create excesses that call later for drastic liquidation. The fact that the Administration has monetary devaluation powers for checking an ominous business downtrend must not be overlooked.
The better feeling in steel predicts an improvement in export trade, and this is expected to be a powerful force for a business revival. The demand for lead and zinc, after copper buying, is encouraging for a recovery during the next fortnight, and may give the answer as to future trends.
1f liquidation is to come it must occur in the business world, but instead we see output. and the awakening 204-05 +1 loa hiengo Whos:
Text read from the printed page and cleaned; old type leaves the occasional error.