The first week of World War II hit U. S. stock and bond markets like a whirlwind. Many a man was still alive who remembered that Bethlehem Steel flew from a low of 25 in 1914 to a 1915 high of 600, General Motors from 58⅞ to 558. Last week's main gyrations:
Government Bonds in recent years have taken the place of commercial loans as the bread and butter of banks. Day before Hitler jumped Poland, U. S. Treasury 4¼s (1947-52) stood at the fantastic price of 119 20/32, Treasury 2¾s (1956-59) at 106, etc. Since the premiums...
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