Stocks Hit New Peak in Heavy Trading: Rails Confirm Industrials
NEW YORK, March 3 (AP)ÛÓThe stock market advanced to another record peak today in the heaviest trading since November.</br></br>A long hoped-for rally by rails and a continued comeback by oils put meat and bones on the marketÛªs recent uptrend. Wall Street analysts had been nervous about the failure of rails to "confirmÛ the industrials.</br></br>Meanwhile, the missile-rocket-electronic issues continued to make strides although some of them fell victim to a bit of profit taking after recent sensational advances.</br></br>Volume soared to 4,790,000 shares compared with 4,210,000 yesterday and was the largest since Nov. 6.</br></br>Drugs,' aircrafts, utilities and the Big Three motors rose. Steely were mixed despite a record-breaking scheduled operating rate for the industry.