Monday, Dec. 26, 1949
Muscle Building
Wall Street's young bull market kept right on growing. On three successive days last week, trading topped 2,000,000 shares, making it the most active week since the big rise of May 1948. The Dow-Jones industrial average rose 3.37 points to 198.05, the highest since August 1946. Most spectacular rise: Superior Oil Co. (California) which in three days jumped 69 1/2 points to 227 on the news of a plan to split it into two gas & oil companies. Wall Streeters now expect the next test of the market at 200. If the bull gets over that hurdle, he might run pretty fast.
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