Current Situation

Temperamental weather, including heat, hail and thunder storms, chills and high winds, have proved disturbing to grain prices, although advancing them. Outside that, the week proved serene and somewhat monotonously cheerful. Perhaps the improvement in what is called "business sentiment" was revealed in the stockmarket, where a tendency was shown to lift prices out of their late doldrums.

Most enthusiasm has been exhibited with public utility shares, despite their recent rise. These whilom conservative issues have lately become most lively vehicles for speculation, owing both to sound anticipation of large future earnings and more doubtfully sound but excited talk of "big mergers."

Foreign conditions, despite a temporary dip in francs, are undoubtedly continuing to brighten. The crucial British example in funding her U.S. debt and returning to the gold standard (TIME, May 11, 18) has borne its expected fruits among other European debtor countries, which are now hastening to set their financial affairs in order. As yet, this has not resulted in sufficiently definite actions to seriously affect U. S. business, but it promises to before the end of 1925.