Market soars then settles for 7.43 point gain
New York stock market closes with a modest advance after an early buying spree. Analysts cite carryover from bank rate reductions and wary investors awaiting hard evidence of a turning point in money markets. Dow up to 424.69. NYSE volume strong amid ITE and other large trades.
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International Telephone & Telegraph
Douglas faces suit over 340 death crash
Investigators sail March 4 defective cargo caused the crash. The suit claims the aircraft manufacturer and airline were negligent, seeking damages and liability for the deaths. The court action names Douglas as involved in the fatal incident with alleged regulatory failures.
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