MARK HAWKERS

Hokitika Guardian, 14 November 1924, Page 3

MARK HAWKERS

SAfAl.l- FORTUNES MADE. NEW YORK. Auk. 22. A few nioutlis ago 11 small shopkeeper walked down to Wall St. ami bought fifty millions marks’ worth for 375 dollars. Yesterday lie sold tl lem for 87.500 dollars. Another eustonier invested 70!) dollars a year a no. and sold out this week for 170.00!). These arc hut incidents in the most amazing speculative craze since the time when Americans invested almost a hundred million dollars in German marks, onlv to see them sink day hv day, until they became a mere curiosity, being hawked at the street corners for a lew cents a million. *

Now. however, things are reversed, and the most curious point is that these fabulous profits are being made, not by professional traders, but bv the poor, and in recent months there has been a steady stream of small dealers, even of push-carts and peddlers into the plutocratic offices of AN all St. 7nattnates, in which haughty clerks diffidently received creasy hills extracted from torn coat-linings, handimt over in exchaiute German bonds of all sorts of denominations.

At the same time, rcsi-onsibli- brokers lire warning their clients Ilint the present- rise ni:iy have im real founda4ion. and that at any moment these hits of paner may again sink to the bottom, while irresponsihle dealers are taking advantage ot the opportunity to fleece inexperienced customers of millions of dollars.

The most sensational rise has keen in AVar Bonds, which have advanced from five dollars a. year ago to 1750 dollars yesterday. Prussian 3J per cent.. Consols from 400 per million marks to 4000 dollars, and Berlin t per cent. Bonds, which have rwlvanccd from 500 per million to 12.000. Then' have been similar instances in many other issues.