SLUMP IN STOCKS

Hokitika Guardian, 13 October 1930, Page 3

SLUMP IN STOCKS

ON BRITISH MARKET. United Press Association.—By Electric telegraph.—Copyright. ] LONDON, October 11. With the single exception of British funds, which touched new high levels on the continued cheapness of money, practically all of the leading stocks, industrial and otherwise, have suffered heavily during the last week. This resulted from a multiplicity of causes. The news from Brazil of the rebellion has resulted in the semi-panic selling of Brazilian securities, which lias not yet abated. German bonds have fluctuated widely on the continued uncertainty of the Fascist leader Hilter’s real attitude regarding the repudiation of the reparations payment and on the lack of, definite evidence as to the extent to which he is being supported hy German public opinion. The depressing tendencies have been increased hv the news renewed bv the latest Wall Street slump, and brokerage failures, which has resulted in large blocks of internationals, such as nickels, hydroelectric's, and traction being suddenly thrown oh the market. Nevertheless it is the experts’ opinion that the liquidation has already exceeded reasonable limits, and that it .will he followed by a corresponding reaction shortly in at least the soundest securities. _

The price of tin tsooks, on .the contrary., continues its downward procession. with disastrous result to certain weak! investors who h.tve recently been buying in, on, a. general belief that the metal had touched bottom. Copper stocks have been fairly steadv. There is. reason to believe that certain large and influential interests, in view of a profitable turnover in the not far-distant future.