Business & Finance: After the Gong

Gongs, idle for nine days, last week sounded sweet silvery notes and were greeted by rounds of applause from brokers who straightway recommenced trading in all the nation's stock and commodities markets. Prices bounded. On the New York Stock Exchange they mounted 15%, greatest one-day gain on record. On the Chicago Board of Trade a few transactions took prices up 5¢ (the limit allowed by special rule). Next day prices gained again but more moderately. Thereafter began a gradual recession while businessmen took stock of their hopes, doubts, profits.

Hopes. Faith in...

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