Stock Outlook: With both industrials and rails having broken through Secon, their upside resistance levels, the action of the market itself suggests the probability of higher prices in the near future despite the normal summer letdown in business. UUility developments are exerting a depressing influence on general, sentiment, but this group of securities has for Jsome time been dependent primarily fon political rather than business factors and the industrial and rail roups are likely to move independently marketwise. Second quarter earnings reports will begin coming out in several weeks and it is expec. ted that many of these will be definitely encouraging. Numerous prospective buyers who have more or less. missed out on the spring rise are anxious to purchase on any setback and for this reason any wide reces~ sion is unlikely and a further advance Interrupted only by periods of irregularity Is generally anticipated, Monday's Closing Quotations
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