Only a few weeks ago, many a harried merchant with sales lagging and customers hard to find got the troubled feeling that 1952 was beginning to look a lot like recession-ridden 1949. In Wall Street, many a professional trader warned that the big bull market was as good as dead.

Who's Dead? Last week the stock market surged up in the liveliest session in weeks. On at least one of the numerous stock averages (the New York Herald Tribune's), its gains for the week put the market at a new 21-year high. Moreover, startled merchants were finding that business, far...

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