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Stock Exchange Chief Gives Pep Talk but . . .

October 22, 1987|United Press International

New York Stock Exchange Chairman John Phelan Jr. gave traders a pep talk before the market opened today, but when the opening bell struck most stock prices retreated sharply.

Phelan also read a message from President Reagan to members and staff on the floor of the exchange, commending them for their performance "during the extraordinary events of the past few days."

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