VICIOUS SELLING.

Press, Volume LXV, Issue 19777, 15 November 1929, Page 15

VICIOUS SELLING.

WALL STREET PUZZLED. (raiTta raass ASsoetiTiow—bt aLacraia rataaa*aa—corraiaar.) NEW YORK, November 13. Following another vicious drive againit atoeki, whi-h lowered prices bf from two to fifteen dollars per share to a new low level, the Stock Exchange issued a fall to members to state their position by noon of November 16th. as at the elose of buainess on November 12th. The market closed with leading stocks near the HBttoni of th« li*t, only a. few imiues showing slight rallies. United States Steel closed one up from the lew level of I'll, but off two on the day. General Electric at 173 were of/ 11} points, and American Telephone and Telegraph at *">7 were four up. 1 Telephone! have rallied sharply from 197*. The questionnaire to members is expected to show Ihe Exchange who is in the market, and what is being done. Wall Street today i» mystified at the continued selling." and speculation runs high aa to whence it came. Near the close an order was received for a million sharaa of Standard Oil of New Jersey at fifty dollars per share, and it is believed that the order is from Mr Rockefeller in a further attempt to check liquidation. SHORTHORN SOCIETY. ANNUAL MEETING HELD. Tha annual meeting of the Shorthorn of Nam- Zealand was held yes.t«r<Uy aftantoon, Mr 11. E. Alexander presiding. Tha annual report stated that the year • working resulted in a tons of LSi Us 4d. It was hoped that with the improvement in the market tor cattle that the increase in revonui would he such that there would be a mote favourable balance in the income and expenditure account. The adverse balaiic* waa mainly due to giving effect to the recommendation ot tinauditor that further provision should be made for irrecoverable fees and subscriptions. The collection of arrears was a niatt«r that had occasioned a considerable amount of difficulty, but the anciety had been reluctant in placing the matter in the hands of a solicitor, as it was hoped that such a step could be avoided by voluntary settlement* by the debtors. Such a proce*s. too, would be expensive when the debtors were spread throughout tha country. The results however, bad h«cn disappointing, and the only course that would allow a definite conclusion being arrived at was apparentlt by recourse to legal assistance in order to discover the attitude o» delinquent members in relation to the society. During the year Volume 21 of the Herd Hook waa published, containing: ttie pedigrees of 123 bulls, 3Wo oowi, and s<j transfers. Volume 2"> is now in the printers' hands and will record tun pedigree* of approximately 113 bulls, 270 cows, and <« transfers. With the present ":«tter demand, more especially for bulls, an improvement could be" looked forward to in registrations. The society's membership stood at 114, there having been five registrations during the vear, and four new members having been added. The shields offered for competition at ahow* resulted in the following awards being made: —Canterbury'. Mr J. A. Johnstone's Pushey Park Augusta's Hero lnvercargill. Mr J. A. Johnstone's Buahey Park Ringleader (6272). No award; were made in Masterton or Dunedin owing to the entries not reaching the required number. Confratalatioas arc extended to Mr J. A. ohnstone on his success at the Royal Show in winning for the second time the cup presented by the Shorthorn Society of Great Britain for the champion bull »t the Royal Show. Tlie- report waa adopted. Officer* for the vear were elected as follows: —President, Mr ( R. E. Alexander* vice-president. Mr A. Hunter; council. Measra 0. C. Murphy. G. H. W fitoddart 're-elected): treasurer, Mr R. E. Alexander; auditor, Mr P. Harle. t . , , It waa decided to award the society s championahip shield for Shorthorn bulls only when the quality of the exhibit* justified its award. It was agreed to support the Hereford Societv's protest in regard to the dehorning of stud cattle and to support the society in the event of an attempt being made to introduce legislation aiming at making this compulsory.

WHEAT.

GLUT IN ENGLAND. (Received November 14th, 9.15 p.m.) LONDON, November 13. There is aa unprecedented glut of grain in England owing to the enormous influx of wheat from Argentina. Storage accommodation at Liverpool is full, and sven overloaded. Ten ships are unable to unload about a million quarters at Merseyside st present. LONDON REPORT. frsrrrsa raaaa »asoa*Tio*-ST aucraio -rsiaaaassj-corvaionT) LONDON, N«»«mbar 13. Cargaaa—la view at tea •*•'»_*£""• J* Netta aa« Soath Amsrles prices •>•»■•« *« to Is M. si wlies level tha teas of t»t ■sarfea* was «i«*<J.cr. P.rcelt are in moderate request at a itmilar decline. , v-„„_. Fataraa la Leaden ;ra bar 44s I»d, December *** •»•• •*•»»*"' 4S « 34. Msrea. 4«i I<J P«r <j«i.rttr n „,_. Al Liverpool futures » r# , •"""iff,"".,. fS bar S» ai«% March «• 10JH. Mar J. lid per cental. CHICAGO WHEAT. XgW TOHK, >*OTBs»ber IS. Caiaaaa wheat, altar droppmf to ««w low levOTor* arU—, ra« t. • e-lhsT ram .It,, word was re«>™d of the •tronf mar. k.«. al Liverpool sad B I 1 " 0 i ! B „ A r Utd cTX demaae for cash grain «>!so' . the wheat prices were substantia!'* mio»■ tna Sriß'sai ia the Fan. B~'""' ,0 *» tia wills bonsht anora frealy. and foreiawara •re"aTso eredi't4 with haviag boufbt h M v,I T , *4;1.7 , et0..d a. M 4 ? , #n t, . bushel: March. 121 i cents. May X2l cet.tf. CANADIAN YIELD. OTTAWA. November 13. The total wheat yi«W *«' **• Pr*»«at year ia boahela. aceordin; to the em:mate of tha Dominion Bureau of Staliatica HALRAKI MINES, LTD. Tie manifcr reports aa foisowt. ander a\a>a November 11 ta Stopias oo the Bt«ekwooa reef aboT* the «aoft level if in profTfaa. a fa« pioeas of ap«*taa*a atoae co«io« «o h » n «, 'ross the stooe aaova. where la»t weal » picked atone waa seearaej. tha reef and footwa!) country baiaat 4ia*arbe4 at lhi» poiat. Rjaina- for Ilia aaxt slope ia completed, aad *topinf eoaaaaanead today: the hanrlne wall country eaatiaoea the aama aa where the good alone waa ••*- No work bat beaa done in the rise on •ne Green Harp reef for the w*ek; the saaa have been employed drivm* <«award fnr the yanetloa wttk tha Venn- reef. The grewad i« «** face over the last tat af tinker was rather heavy. and required re tiasheriat: this" nas been r«mpleted, tad one rnoad ot the ro«k drill Bred and .-! an.d uu for *ft- Better progresi ahould be made thi« rieaaing op at the battary will be eeaa-y.t-,4 ia a few days.