With grunts of delight, Wall Street last week woke up to the wonders of television. Out poured a dozen market letters puffing TV. Jacquin, Bliss & Stanley recommended television stocks because they offered "romance possibilities" and had "the greatest sex appeal." What was making the Street goggle was the way TV had come to the rescue of radio makers—and in the nick of time.

Dollar sales of radios had slumped badly. They were running more than 25% lower than last year, with no hope of betterment as dealers slashed prices to unload. What made up for this slump was the...

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