STOCK MARKET

Hokitika Guardian, 22 October 1929, Page 5

STOCK MARKET

DROP IN VALUES. United Press Association— By ElecvrKTelegraph—Copyright). (Received, (bis <i«v at 1.30 n.m.) ’. ‘ " NEW YORK, October 21. ' The" rising tide of security selling assumedserious proportions to-day. The stock market’s general list broke from two to fifteen points. Tickers lagged over an hour behind the market. The greatest confusion and anxiety throughout the entire recent break was exhibited by. investment' bankers. It is reported that public confidence has been so shaken that it is virtually impossible to sell new issues of stocks and bonds. ■ ■ "i

To-day’s losses are especially significant, since it came after several days of liquidation. One representative high specialty issue broke points and another dropped forty-five. United States steels touched new low records of 205.

. The day’s total sales were approximately seven -million shares.

- STOCK EXCHANGE. NEW YORK, October 21. , Powerful interests finally checked late on Monday afternoon, one of the most frenzied outbursts of selling in the history of the Stock Exchange. After scores of issues had been swept dojvn five to forty-live dollars, two tnc, a half billion dollars in paper values were, wiped out.

NEW TEXTURES. LONDON, October 21. Bradford cloth merchants have successfully offered French dressmakers their, new tweeds and woollens lor ladies’ dresses and coats. These are of light weight and soft texture. The colours are subtle even when bright and several new weavings greatly interested Rue de la Paix. Collaboration between British merchants and French dm.smnkers are closer than for 'jitf time and promised a better understand- ■ ii'.;’ between them.