Business & Finance: A Major Prophet

In the forecasting of future business conditions, there are major and minor prophets. Arthur Reynolds, President of the Continental and Commercial Bank of Chicago, is one of the major prophets. Very rarely has he made specific and unequivocal predictions in the past, but when he has, his prophecies have almost invariably come true.

Recently Mr. Reynolds has again expressed a concrete opinion: “Within 30 days there will be a very definite and easily measurable upturn in business. I mean by that something more than a change in sentiment and a foundation for hope. . . . Business is fundamentally sound despite the difficulties of some specific industries. The political situation is much more encouraging . . . Business has been stagnant so long that there has been a material accumulation of needs in almost all industry, and this must lead toward acceleration.”