STOCK EXCHANGE

Hokitika Guardian, 30 October 1929, Page 5

STOCK EXCHANGE

STOCK MARKET. FURTHER' CRASH IN VALUES. [United Press Association—By Electric Telegraph.—Copyright.] (Received this dnv at 9.25 a.m.) NEW' YORK, October 29. There was another avalanche of selling .at the opening of the stock market* to-day which crashed values down five to* thirty-five, dollars a share. When banking support rallied the market which Broke again in reflection of the nervousness created by the failure' of Curts, an Exchange firm, hundreds of' issues broke into new low levels for the year. Under panicky trading on the second selling wave losses ranged from ten to seventy dollars - 'per share lower. An hour before the close prices turned sharply upwards. • A Toronto message states as the aftermath of the New York stock crash on Monday there was an appalling smash at the opening of the Toronto standard stock mining exchange to-day. The market started by cutting ton dollars a share eff Vo vo nrla. ddvinnr stock clown to twenty-eight dollars. At the previous' close, the price was 38/99. 0‘ her issues suffered severely.'- Prices indicated panic conditions in the world’s largest mining stock market. Experts declared the prices bore no relation whatever to the intrinsic value?. In Montreal the effect of the crash was also drastic acid at Vancouver the market followed the downward trend. Toronto reports the worst opening day on record. 1 NEW YORK, October 29. The stock market after a day’s terrific battering made extraordinary recovery in the last three minutes, following a series of confident statements by financiers and .additional supporting millions provided by hankers. However, while stocks closed above points touched to-day Ifew of them recovered above yesterday’s close, and the actual losses for the day ranged between five to fifty points. The total sales on the stock market was an all time record of 13,410,009 shares. The curb made a new sales record of 7.096.300, with losses as high as 85 points. Tickers on both exchanges were far behind at the close, STOCK EXCHANGE LOSSES. , NEW YORK. O-h 29. The worst flood* of selling which wi"ed out approximately twenty-five billion dollars of quoted values during the Inst week appeared over later in the afternoon when Rush raihvnv left a number of market leaders with losses ranging from two to twentv-Rve I dollars. Sales approximated sixteen millions of shares,