STOCK EXCHANGE

Hokitika Guardian, 25 October 1929, Page 5

STOCK EXCHANGE

STOCK PRICES FALL. ; [United Press Association—By Electric Telegraph.—Copyright.] (Received this day at 11 a.m.) VANCOUVER, Oct. 24. A Montreal message says, in sympathy with New York, stocks in the leading issues lost as much as forty dollars. To-day a renewal 6f the reaction of past ten clays. At Toronto millions of dollars of values were wiped out' when a wide range of issues fell two’to ten points to-day.

VANCOUVER, Oct. 24. Over five .thousand million dollars in market values were swept away in the greatest day in the market’s history. Then sonic of the most powerful* bankers gave support which, stopped the break. Over eleven and a-half million shares were exchanged shortly after 2 o’clock, the tickers then being nearly three hours behind the actual sides.'' ■ > :■ ■ ■ •: l -'

,;f,r Saii; Frnhcikcd and Philadelphia mar-kets’-hlso plunged uown in sympathy. ‘ Chicago grain market was also badly hit but was rising sharply at the close when wheat prices came back to within* five cents of yesterday’s close, after dropping 12 cents in one of the wildest sessions in the year. At one period December wheat dropped eleven points, March, twelve, May twelve. Meantime in Omaha wheat pit not one sale was recorded, conditions in Chicago and elsewhere being too unstable for either bull or bear to take a chance. ‘ .NEW YORK, Oct. 24. The most terrifying selling panic since the war days of 1914 dealt a crushing blow to leading stock markets in U.S. to-day, and was only 'hecked by prompt reassurances from the country’s leading bankers. All records ol frenzied trading were broken at New York, with the days sales of approximately 14 million shares with billions of dollars quoted values eliminated. Shares were clumped overboard for whatever they would bring. There was a substantial upward movement' late in the afternoon, but the closing quote on most leading issues disclosed severe declines. The reason is unascertainable for the wild rush to unload. NEW YORK, October 24. In Chicago wheat market, sharp rallies near the close pulled prices from the slump to a point nearer yesterday’s closing quotations. The Exchange saw its first mtllion share day with an all time record sale of 1,220,000 shares. Wheat closing quotations were. December 120 V, March 128 i, Mnj 131 i. v . NEW YORK, October 24. Call -money renewal, high six, low anjd close five.