Show CLOSE OF YEAR MOST ENCOURAGING The fhe New York ork financial houses have a tone of o confidence at the close of ot the year One of the banks Issues this state state- statement tate ment Unusually prosperous rous and ac ac- ac active live tive business and financial condi condi- conditions lions continue to be Indicated as the year draws draw toward a close Within the past pat week a great deal or of attention bas hs ha been concentrated upon retail trade as III Is I usual at this season and thus tItus far practically cally cally all records in that connection lion tion have been broken Dut flut the volume o of new orders order for tor the early months of or 1927 1127 that has bas been coming coining into many man turing industries has been C I ally excellent not only in steel and automobiles automobile but In most oth other er lines of ot business The latter half o of December is showing nn an expanding tendency that had not been expected by many and has hasl proven surprising even to those ho abo had ho been fairly optimistically inclined All this thi is the back back- background background ground back ground against which the current current strength and confidence of ot the stock tock market have been evolved Holved Six months ago go a II number of financial writers writer figuring figurine on the cycle ccle of business which brings ups lIPS up and downs thought they saw evidence of ot a depression depre lon Now ow they are correcting their errors and are arli ar discovering that the financial fi d financial change which has ha made America a creditor Instead of a debtor nation has bas supplied this country with funds fund sufficient to give unlooked unlocked stimulus to bu busi- busi ne bufi-ne l flees and prolong the period of oC prosperity |