December 21, 1947

Although the failure of the Council of Foreign Ministers to reach an agreement was a disappointment last week to the financial community, the event had no repercussions in the security markets. Last-minute Congressional action, before adjournment, coupled with President Truman's message, sent stocks to the highest levels in about a month.

NY Times rev of 247 cos earnings, Jan-Sept, shows 89% rise over same period, '46; tabulation by indus groups, '46-47

Taft says when Truman signs Repub bill he can act within present laws to halt inflation; Dem Repr J A Carroll scores bill as pol hoax; other comment

The stock market extended its gains in yesterday's brief session and final prices on the Stock Exchange were at the best level since November. The rail shares joined the steel and oil groups in the upward movement, which was most pronounced in the last hour of trading.