Steels, Motors Lead Surge to Near '51 High
NEW YORK, Ahg. 2 *.-The stock market drove ahead strogly today to within a short step of a new high for the year.</br></br>Steels and motors led the movement which had lavish help from other major groups including rails, oils, utilities, rubbers, chemicals, and a long list of individual issues.</br></br>The ability of the market to recover from its big fall of Tuesday whipped up bullish enthusi-, asm and brought in heavy buying support.</br></br>The Associated Press average of 60 stocks advanced $1.00 and stood at $96.70. The high for theÛª year was $97.80 reached May</br></br>In todayÛªs advance the utility component gained 20 cents at $49.70, a new high for the year and the best since August 28, 1946. The industrial component was up $1.50 at $133.40, equal to the high point of the year, and rails advanced 70 cents. The rails are well below shrdlu upu rails still are well below their best.