A Letter From The Publisher, May 29, 1950

Do you remember the scraggly little bull calf on TIME's June 14, 1948 cover (see cut)? Bewildered, unsteady on its feet, shrouded in ticker tape, the little fellow symbolized the baby bull market which Wall Street was nursing at the time.

Next week, almost two years older and many pounds (and Dow-Jones points) heavier, the bull will make his second appearance on TIME's cover (thus joining the circle of such cover repeaters as Harry Truman, Winston Churchill, Joe Stalin, et al.). The cover story accompanying his first appearance indicated that TIME's editors were bullish on the U.S. economy and thought that, if...

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