The broad smiles that wreathed Wall Street last autumn returned one afternoon last week. Four tokens of a renaissance in the stock market had made their appearance:
U. S. Steel common touched 139%, a new high for all time. General Motors common came within two points of its high (150).
Thirty other stocks reached high levels for the year. A Stock Exchange seat brought a new-record price of $155,000which was $6,000 higher than the last sale; $5,000 higher than the last record.
Discussing these matters on the golf course over the weekend,...