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The article develops supply and demand functions for the commercial paper market. Between 1965 and 1968 the value of short-term debt issued by corporations more than tripled. The author estimates equations for supply and demand using quarterly data for the period 1954-1968. Results for several different industries are presented and discussed. Although the model worked will within the sample time frame, it performed less well for the two subsequent quarters, owing to structural changes in the market.

The article discusses the importance of the distributor in the Pacific Coast wholesale paper trade during a war-time economy. The author points out the growing importance of paper to the war effort in areas such as paper cups and plates for mass feeding of soldiers and paper goods for packaging of materials. Many of the paper products that are need for the war effort are manufactured throughout the United States with many being east of the Rocky Mountains. The paper distributor allows those placing orders to receive their order from one location and to place one order for a variety of materials. Several problems faced by distributors, such as lack of manpower and union restrictions, are also discussed.