The unusual activity on the Stock Exchange has continued, accompanied by firm or sharply rising prices. The verdict of Wall Street seems to be that the present is a "creeping bull market," which may last for some time.
One remarkable feature of the recent market activity has been the stationary status of brokers' loans. Usually, as stock prices rise, investors sell out to speculators who buy "on margin," thus occasioning a rise in the amount of money borrowed by stockbrokers at the hanks. No official figures on...
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