WILD EXCITEMENT ON STOCK EXCHANGE
BIG BOOM IN ARTIFICIAL SILK SHARES COMPANY’S PHENOMENAL YEAR VALUES SOAR MILLIONS IN A FEW MINUTES The announcement by a firm of artificial silk manufacturers of a phenomenally successful year, led to a scene of wild excitement on the London Stock Exchange. In ten minutes the market value of the shares appreciated over fifteen millions sterling. By Telegrath. —press association Copyright. (Rec. February 23, 10.55 p.m.) London, February 23. Wild excitement prevailed on the Stock Exchange after an announcement that Courtaulds, Limited, artificial silk manufacturers, were paying a share bonus of 100 per cent, in addition to a dividend of 25 per cent. Last night the official closing price was 1535. 9d. Long before the Exchange opened to-dav scores of brokers start ed dealing and rapidly rushed the price to £9, which means that the market value of the ordinary shares appreciated over £15,000,000 in ten minutes.
When the Exchange opened the price relapsed on profit-taking, and closed at about 1635. 9d.
The excitement spread to all artificial silk shares, which fluctuated rapidly.
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Dominion, Volume 21, Issue 125, 24 February 1928, Page 9
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178WILD EXCITEMENT ON STOCK EXCHANGE Dominion, Volume 21, Issue 125, 24 February 1928, Page 9
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