Business: Biggest.Since '29

The bull market last week briefly surged above the historic 678.10 closing high of Aug. 3. But it could not hold the gain, slipped to end the week at 670.69 in the Dow-Jones industrial average. Even with a drop in trading, the 1959 volume was certain to be the heaviest since 1929. Totting up the commissions on the trading, brokers happily paid out the fattest year-end bonuses in many a season. At Paine Webber, the extra checks averaged nearly six weeks' pay; Merrill Lynch, Pierce, Fenner & Smith reported that its oldest employees were getting better than eight weeks' extra pay. In some smaller over-the-counter houses, with low overhead, employees got as much as nine months' additional pay.

Quotes of the Day »

Get & Share
TAREQ AND MICHAELE SALAHI, a climbing socialite couple from Virginia, in a joint Facebook post, after having allegedly crashed the Obamas' first state dinner without an invite
For use in rail of Articles page or Section Fronts pages. Duplicate and change name as necesssary to distinguish.

Time.com on Digg

POWERED BY digg

Quotes of the Day »

Get & Share
TAREQ AND MICHAELE SALAHI, a climbing socialite couple from Virginia, in a joint Facebook post, after having allegedly crashed the Obamas' first state dinner without an invite

Stay Connected with TIME.com