The Current Situation

The expected quiet of late Spring has descended upon the markets, and prices cannot be said to have shown any really significant changes during the past week. Most sensational of the happenings in the financial markets has been the fall of the mark to another low record for all time, although after the record output of nearly one trillion paper marks in a single week, this development is not illogical. As bearing upon the general situation, probably the most important happening has been the establishment for the third successive month of an import surplus in our foreign trade of May, amounting to $51,000,000. This indicates that the long expected flood of foreign goods in our markets has begun, and that local manufacturers had best proceed with caution under our higher costs of production. The stock market, as if also motivated by a similar instinct for caution, has continued to decline irregularly.