HEAVY PROFIT-TAKING
AMERICAN STOCK MARKET PRICES IRREGULAR WHEAT AND WOOL UP (Reed. Sept. 7, 1.30 p.m.) NEW YORK, Sept. G. The financial and commercial scene continued to reflect sharp variations arising .from the war situation when all markets opened .this morning. Heavy profit-making in “war babies” brought a sharp irregularity on tlie stock market. Though trading was quieter, securities which yesterday did not respond, began to move up however, and more spectacular gains arc expected. Profit-taking continued throughout the day, but without upsetting the equilibrium of the market. The sales totalled 3,940,000 shares. Bonds were traded heavily, but prices dropped. Rumours that the British Government is taking the total Australian wool caused prices to jump three cents a pound. Wheat on the North American markets again soared to the livecent limit. Sugfcr, cocoa, rubber, and cotton also reached the limit. Sterling opened at 400 dollars. The Bany of England held its gold price at yesterday’s figure of £8 8s a fine ounce.
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Gisborne Herald, Volume LXVI, Issue 20036, 7 September 1939, Page 6
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162HEAVY PROFIT-TAKING Gisborne Herald, Volume LXVI, Issue 20036, 7 September 1939, Page 6
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