Bull Run

For weeks the New York stockmarket has dawdled while buyers tried to make up their minds about the war. Last week, they came to a decision they were willing to bet on: Germany will last for another six months, at least. Result: the market surged upwards in five successive million-share days. And the bellwether Dow-Jones industrial averages, which reclined in the optimistic days of last September, rose to their highest point, 151, since January 1940.

Surprisingly, the rush of buying was started again by the rail stocks, though most of the roads chugged past their profit peaks months ago. But at...

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