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BIG U.S. STOCK
EXCHANGE RALLY
Rush Of Buying
Orders
NEW YORK, April 22.—AAP.
Stocks rallied briskly on the
Exchange today, rising about
$500 m. to a new high.
The market opened with a
rush of buying orders, with
many big blocks of shares ap
pearing on the tape.
The annourcement by the OS !
Steel Corporation-that it would '
cut prices by $25m. annually ?
started a demand for automo- >
tive shares because the com- '
paniss will benefit by cheaper
steel supplies. i
Transactions totalled 2330.000 ?
shares, which is the greatest
voluue since December 9. 1946. :
$