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...assured of a very active second half year, which was all Wall Street needed to know. But July 1 copper inventories were still high (340,000 tons, 80,000 above the high inventoried end of 1937) and even in a good month, U. S. copper consumption does not often exceed 80,000 tons. If forward buying books July's total copper orders to 200,000 tons or better, four or even five months' additional supply at present rate of domestic consumption will be added to inventories...
Like most of his countrymen, Franklin Delano Roosevelt is a stockmarket watcher rather than an economist. To him, as to most of the U. S., a rising market means that business is all right and a declining market is a sign of woe, fortelling that unemployment will again exceed its "normal" quota of 10,000,000. When the market is down the New Deal begins to look for new brands of unemployment reducers and market restorers. Last week, it was obviously twirling the dial in search of the right wavelength on which to broadcast a new offensive against renewed depression...
...major war Germany will need 15 to 20 million tons of oil a year. The entire annual yield of the nearby Rumanian fields, assuming Germany could and would quickly take Rumania through Hungary, is short of 7,000,-ooo tons and synthetic production in Germany can hardly exceed a million tons. Furthermore, number one truism of writers on military problems is that the next long war will be won by the nation with the greatest industrial potential behind the lines. The ability to mass-produce and to service guns, tanks, planes, ships and motors will, so the military theoreticians predict...
...study intensively the relatively bright stars of our galaxy [the Milky Way]-as individuals and not as statistical material. We want to know why it is that all the matter in the world is segregated essentially in two forms: stars and nebulae. Why are there no stars which exceed in mass a few hundred times the mass of the sun? Why is it that nearly all stars and nebulae consist of the same chemical elements in roughly the same relative proportions as we find them in the sun? Where and how do the stars generate their stupendous energies of light...
...airplanes. Next year when Heinkel comes to pay corporation taxes, it pays not in cash but in the fiat certificates. Meanwhile Heinkel may, if it wishes, use the certificates to help pay for purchases of Duralumin, rivets, engine parts. In transactions other than tax payments certificates may never exceed 40% of the purchase price, the rest to be paid in cash. What the plan really comes down to is using future taxes for present needs...