Never during the campaign did Wall Street seriously entertain the possibility of Democratic victory. At the last, confidence in Republican success held the stockmarket firm, gave particular strength to public utility stocks. In the pre-election session, Commonwealth Power advanced 2½ points to a new high of 89⅜. Close behind were Columbia Gas, Consolidated Gas, American and foreign power.
For the fifth successive week, brokers' loans, last week, reached a new high, mounted to $4,907,164,000. A year ago, they stood at $3,371,705,000. Traditionally, rises in the total of brokers' loans are viewed with alarm (TIME, July 23, et seq.). Reassuring, therefore, were the...
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