Business: Bear Hunt (Cont'd)

For a long time Congressman Fiorello ("Little Flower") La Guardia of New York had been quietly stuffing a Pandora's Box with woe for Wall Street. Last week the box, a big, brown trunk, was so full of woe that it required two men to lug it in to Senator Norbeck's bear-hungry Committee on Banking & Currency, still investigating the stockmarket (TIME, April 25 et seq.). When Congressman La Guardia opened the lid, out flew a flock of woes for Bulls, Bears and the financial press.

Scouting the...