Business: Index

For three weeks prior to Washington's Birthday, stocks churned higher on big volume. Bullish rumors flooded Wall Street. There were stories of big bears trapped; of big deals brewing. International Telephone & Telegraph gained 100% over its January low and there were tales that it will again attempt to buy Radio Corp.'s communication business. Auburn leaped from $101 through $210 and bulls said they heard that General Motors had agreed to use Auburn's free-wheeling patents. Once again the names of Mike Meehan and William Crapo Durant were heard where speculators gathered.

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