STOCK EXCHANGE.
A PANIC AT NEW YORE.
(United Press Association—By Electric Telegraph—Copyright).
this day at. 8.30. a.m.) V ' ' . NEW YORK, August 9. The panicky liquidation of stocks, inspired ,by an unexpected increase from five to six per cent of the Federal reserve, discount rate, will cut more than a billion dollars on the ) quoted values, in fifteen minutes trading, the most sleeping reaction in the history of the New York Stock Exchange. A brisk rally ensued before the end of the first half hour. Thero were similar recessions in other financial centres throughout the United States.
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Hokitika Guardian, 10 August 1929, Page 5
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96STOCK EXCHANGE. Hokitika Guardian, 10 August 1929, Page 5
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