Wall Street: Rallying Round the Blue Chips

Despite spotty corporate earnings reports and new talk about a tax increase, the unmistakable snort of the bull reverberated last week in the stock market. For the second week in a row, prices surged ahead and trading volume on the New York Stock Exchange climbed to a new record, 58,194,770 shares, an avalanche that strained the facilities of banks and brokerage houses. The Big Board's year-old composite index of all common-stock issues on three straight days eclipsed its May 8 peak of $51.93, reaching $52.18 at week's end. Reflecting a suddenly renewed...

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