The stock market, which has felt weak in the knees for some time, took a slight header last week. It was pushed down by American Telephone & Telegraph Co., which announced a $500 million issue of convertible bonds, and American Woolen Co., world's biggest woolen firm, which passed its dividend. Since A.T. & T.'s new issue would dilute the present stock, traders rushed to sell. A.T. & T., normally steady, dropped two points. American Woolen dropped three points to 30; for minutes, trading had to be stopped before a bid could be found. The unloading of stocks spread and,...

Want the full story?

Subscribe Now


Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!