While the New York Stock Exchange continues to show gains, a much broader but less-known market is rising even faster. Last week the National Quotation Board's index of over-the-counter stocks closed at a record 192.37, up 8% for the year so far, v. a 3½% rise for the Dow-Jones. Last year the OTC index jumped 23%; the Dow-Jones advanced 15%.
Most of the 7,000 issues traded daily over-the-counter represent companies that are not sufficiently large, seasoned or profitable to be listed on the major exchanges. But the OTC index of 35 stocks includes such mighty companies as Anheuser-Busch, Ethyl Corp., Rockwell Manufacturing,...
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