By the middle of last week, the New York stock market seemed to be over its V-E day jitters. The slump, which began March 9 when U.S. troops jumped the Rhine, seemed to have hit bottom. For six days, stocks had climbed slowly. Then came the news of the President's death.
At first, on Friday morning, stocks slipped. Then the utility stocks, hardest hit of all by New Deal reforms, began to climb. The rest of the market scrambled after them. At the end of the 1,800,000-share day, busiest in weeks, the utilities were at 29.25, a seven years' peak.
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