WALL STREET

Evening Star, Issue 20133, 25 March 1929, Page 6

WALL STREET

HEW YORK BOHEY MARKET ' TliE SPECULATIVE FEVER Press Association—By Telegraph—Copyright. WASHINGTON, March 22. The possibility of a rise in the Federal reserve rediscount rates was seen to-night after another attempt by the Federal Reserve Board to curb "Wall Street’s speculative fever by holding an extraordinary season, with Mr Mellon fSecretary to the Treasury) and Governor Harrison, of, tho New York Reserve Bank, present. Tho meeting was called after several warnings had failed to curb speculation, and unless tho rampage is called off on Wall Street it is indicated that a battle may result. During the meeting to-day New York and Chicago speculators appeared frightened, especially fearing that the Chicago rate would rise, but that has not occurred. Members would not discuss the meeting, which it is believed has been held partially as a psychological move, but, it is expected that tho hoard will shortly issue another statement if today’s meeting docs not have the desired effect. —Australian Press Association.