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ATLANTA BALTIMORE BIRMINGHAM HASKINS & SELLS PHILADELPHIA PITTSBURGH PORTLAND BBOUFSTFOANLO CERTIFIED PUBLIC ACCOUNTANTS PSAROINVTID LEONUCEIS CHICAGO SALT LAKE CITY CINCINNATI SAN DIEGO CLEVELAND BULLETIN SAN FRANCISCO DALLAS SEATTLE DENVER TULSA DETROIT WATERTOWN KANSAS CITY LOS ANGELES BERLIN MINNEAPOLIS HAVANA NEWARK LONDON NEW ORLEANS executive offices PARIS NEW YORK 3h7a swkeinsst 3&9 thse sltls., nbeuwil dyionrgk SHANGHAI VOL. VIII NEW YORK, JANUARY, 1925 No. 1 AGAIN it appears that the stock exchange may be used as an index of forthcoming business conditions. In the light of the past, its recent activity seems to presage an era of prosperity. Facilities of brokerage houses have been taxed to the limit in order to handle the enormous volume of transactions which have taken place at continually rising prices. Every day has seen a long list of stocks reach new high levels for the year. 1 he trading has not been confined to a few issues, but has been widely diversified and representative of the country's leading industries. The unusual activity of the exchange has not been unwarranted. The business outlook appears to be the best in several years. Our country has practically emerged from the period of depression of a few years ago. The uncertainties of the "election year" have passed, and the return to power of the present conservative administration has been a stabilizing factor in our industries. The situation in Europe has begun to look more favorable than at any other time since the war. German rehabilitation is being accomplished through the agency of the Dawes plan; and the relations among the nations, at least on the surface, are again cordial. Apparently, it may reasonably be expected that there will be a rise in the general price level during the coming months. The leading price indexes re-cently have begun to show an increase. Professor Irving Fisher's index number of the wholesale prices of two hundred representative commodities stood at 154.6 for the week ended December 5, as against 142.3 for the week ended July 11, the low point of the year. Prosperity is contagious. When the producers in one group of industries begin to receive more for their output, their demand grows for the products of other groups, with a resulting tendency towards higher prices for the other products. The movement thus becomes a progressive one. It seems that there may be expected also an increase in volume of business, accompanied by an extension of facilities for production. The railroads have announced an ambitious program for 1925. The number of corporate security issues for purposes of expansion is already on the increase. Present tendencies indicate that we are not in imminent danger of another period of inflation and over-expansion. The present signs of prosperity appear to be warranted by conditions. A general betterment has become manifest in the status of almost all our industries, including agriculture. The general attitude prevailing seems hopeful rather than over-optimistic. It is not amiss, nevertheless, to bespeak caution in expanding our industries, lest What We May Expect
Object Description
Title |
What we may expect |
Author |
Anonymous |
Subject |
Stock exchanges Business forecasting |
Citation |
Haskins & Sells Bulletin, Vol. 08, no. 01 (1925 January), p. 1-2 |
Date-Issued | 1925 |
Source | Originally published by: Haskins & Sells |
Type | Text |
Collection | Deloitte Digital Collection |
Digital Publisher | University of Mississippi Libraries. Accounting Collection |
Date-Digitally Created | 2009 |
Identifier | HS Bulletin 8-p1 |