SHIPPING: The Boom from Abroad

The hottest shares on the New York Stock Exchange last week were the shares of U.S. shipbuilders. New York Shipbuilding Corp. jumped from 36 to 54⅞ in two trading days; Newport News closed the week at 79¼, or 29¼ points above its 1956 low. American Ship Building rose from 97¾ to 102. The greatest shipbuilding boom in the world's peacetime history had finally reached the U.S.

Long before Nasser seized the Suez Canal, the boom had started abroad in anticipation of a huge increase in the free world's oil consumption—and of possible trouble when Egypt could legally take over the canal...

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