Business: Market High

The stock market, which has been going up while business went down, last week hit a new high for 1958. Five days of heavy trading put stocks on the Dow-Jones industrial average up seven points to 469.60, the highest level since September and a good 50 points above the recession low set last October. Spurred on by the good steel news, U.S. Steel, Bethlehem and Republic rose. Lower gasoline stocks and the prospect of stiffer curbs shoved the depressed oils ahead. Even the troubled railroads, which have had precious little to toot about this year, built up some steam. With the...

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