STOCK MARKETS IN U.S.

Press, Volume XCI, Issue 27638, 20 April 1955, Page 13

STOCK MARKETS IN U.S.

Senator’s Fears Of “Shallow Optimism”

(Rec. 8 pjn.) NEW YORK. April 18. Senator J. W. Fulbright chairman of the Senate Banking and Currency Committee, said tonight it was his opinion that excessive speculative activity was beginning on the stock market. He said the committee was following up its recent investigation of the stock market by working on a number of legislative and administrative recommendations that would be made public later. Senator Fulbright (Democrat, Arkansas) announced some of his conclusions, based on the investigation, in a speech before the Economic Club of New York. . . , “The committee as a whole will in time issue a report which may or not coincide with my own view,’* he said. “Moreover, my own attitude, based on what I heard the witnesses say and not on what the replies to the committee questionnaire revealed, is subject to change in details. “But at this moment, I am of the opinion that we are in fact experiencing the beginning of excessive speculative activity in our market” Senator Fulbright said some of today’s speculators were guilty of a shallow optimism that was uncomfortably reminiscent of the attitude which preceded the great crash of 1929.