Still Going Up

The stock market kept right on going up--despite the news from Korea and the certainty of stiffer controls on business. Last week, the Dow-Jones industrial average rose more than four points to 259.08, a new bull-market peak.

Leading the advance were the oil stocks, whose rosy first-quarter profits gave proof that the oil industry has felt none of the slackening demand that has piled up inventories in many another industry. Another bullish factor: British oil trouble in Iran (see FOREIGN NEWS). Up to new highs scooted Continental Oil, Cities Service and Amerada Petroleum; in three days Jersey Standard jumped seven points to 115 3/4, a new alltime peak of its own.

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