Stocks' Trend Generally Up After Election
Well, whatÛªs it done after former presidential election s? Since the turn of the century, stock prices have gone up nine times, held steady twice and gone down twice.</br></br>Many traders are on the sidelines now. 'They remember that after the Truman victory in 1948 there was a sharp break. But thereÛªs a difference now. In 1948 stock prices had been pushed up before the election on expectations of a Dewey victory. This year," however, the trend has been generally down since August.</br></br>For those who believe in ÛÏThe Past Is Prologue,Û hereÛªs a rundown, on what the market did after each presidential election since McKinley: . McKinley up, T. Roosevelt up, William H. Taft up, Wilson fl) neutral, Wilson'(2) up, Harding down, Coolidge up. Hoover up, Roosevelt (1) up, Roosevelt (2) up, Roosevelt (3) up, Roosevelt (4) neutral, Truman down.</br></br>TRIBUTE: Deserved praise is given Harold C. Patterson, Washington, by the current newsletter of the National Association of Securities Deal-' ers. Patterson, says the publication, ÛÏis one of the behind-the-scenes reasons why the over-the-counter business functions smoothly and has dependable machinery for turning out precise answers to membersÛª business problems.Û Patterson is a partner in the Washington investment house of Auchincloss, Parker & Red-Ûª path.</br></br>IN NEW POST: A. J. Pessel has been elevated to assistant vice president of Matson Navigation Co. and transferred from San Francisco to W a s h i ng-ton. In his new job Pessel will be MatsonÛªs contact man with Congress, Government agencies and shipping industry associations. He joined the n a v igation firm 27 years ago, worked his way through the ranks and for the past two years has been director of advertising and promotion.