Ever since Black Thursday of 1929, the figure 300 has had a magic meaning for Wall Street. On that October day the Dow-Jones industrial average, which had hit a peak of 386.10 in September, crashed 40 points and dropped below 300. In more than 24 years since 1929, it never reached 300 again. By mid-1930 the average bounced back 100 points to 297.25, but then started its almost uninterrupted fall to the 1932 low of 40.56. Last year the Dow-Jones average again inched up to 295.06, but got no higher. But last week on Friday (March 5, 1954), it...

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