WALL STREET: A Private Depression

As the economy zips into the second quarter with production, profits and employment all rising, Wall Street continues to sink deeper into its private depression. Stock prices continue to drift downward; last week the Dow Jones industrial average closed at 931, off 121 points from its high of 1052 less than three months ago. Far more frightening to brokers, there are growing indications that a sizable slice of the public has been turned off stock investments. The latest New York Stock Exchange survey shows that in 1972—the very year in which the Dow Jones average finally cracked the magic...

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