MARKETS SOAR
Huge Turnover on Wall Street PRICES AGAIN RISE (Received 30, 8.45 a.m.) KEW YORK, Oct. 28. In response to the Federal Reserve Board 's action last night — apparently prompted by the recent instability of the stock market, the Federal Reserve Board reduced the margin of its requirements for purchases from 55 to 40 per cent, and imposed a ^iargin of 50 per cent on short saies — stocks soared immediately the market opened to-day. Prices advanced from one to eight points, with a turnover of 1,050,000 shares in the first hour, but thereafter they lagged and receded. Bnt in the final hour prices again strengthened. The new regulations generally are acclaimed. It is expected that the reduction in the margin of requirements will release about 100,000,000 dollars for new purchases, and also bolster the present stock commitments.
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Hawke's Bay Herald-Tribune, Volume 81, Issue 31, 30 October 1937, Page 5
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138MARKETS SOAR Hawke's Bay Herald-Tribune, Volume 81, Issue 31, 30 October 1937, Page 5
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