Credit Situation Easier: Some Recovery Evident cos, smECIAL senvie New York, May 29
The credit situation was easier to-day and prices moved forward in a healthy recovery on the New tock Exchange, says the Dow Jones Financial News Agenes in its daily review of trading at tthe close of business this afternoon, The refusal of the Federal Reserve Board, meeting in Washington after the close of the Exchange yesterday, to approve the applica tion of the New York Federal Reserve Bank to inevease the recount rate from 5 per cent, to 6 por cent, brought a general fecling of reserved optimism, and the buying elements came back into the market cautiously, at first, but with, increasing strength as the day: wore on.
Text read from the printed page and cleaned; old type leaves the occasional error.