STATE OF BUSINESS: Bad Time for Bears

Wall Street's dwindling colony of bears stayed in their caves last week, as the market rally stretched into its third consecutive week. The market seemed to like President Eisenhower's budget message (see below), and the way business was steaming along. The Dow-Jones industrials average moved up four points to 290.40, highest in ten months.

The bulls had other good news. Aircraft shares got a lift when Douglas announced an extra dividend of $1.50, in addition to the regular $1 payment; the stock shot up 6½ points for the week. Douglas sales set a peacetime high of $874 million in 1953,...

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