WALL STREET: Over the Fence

After weeks of indecisive pawing & snorting, Wall Street's bull market this week jumped over the fence. Prodded by fat earnings, generous dividends and a spate of stock splits (General Motors, Philco, Container Corp. and a rumored split by Chrysler), stocks went bouncing up in the opening session this week. The Dow-Jones industrial average reached 228.94, thus breaking through the previous bull market high of last June and climbing to the highest point since September 1930.* Railroad stocks, which had been pacing recent market advances, also rose; their Dow-Jones index was the highest since August 1931. One gold-plated performer:...

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