Business: Action & Reaction

Up jumped stock prices to new highs for Recovery. Up jumped trading to more than 2,000,000 shares per day. Up jumped the price of New York Stock Exchange seats to $135,000, more than twice the Depression low. And thus, for two successive days last week following the release of President Roosevelt's letter to Publisher Roy Howard promising a "breathing spell" for Business (see p. 11), the stockmarket made front-page news.

A Presidential tip is as good for a rousing market rally today as it was in 1928...

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