U.S.A SLUMP

Hokitika Guardian, 12 November 1930, Page 6

U.S.A SLUMP

DROP IN STOCKS AND WHEAT. I United Press Association —By Electric Telegraph.—Copyright.] WASHINGTON, November 10. The stock market in New York, and the wheat market in Chicago have continued their downward trend to-day, stock losing from one to eight points, and wheat declining four cents per bushel. The Standard Oil Coy., of New Jersey’s shares sold below fifty, and United States Steel shares dropped to 128, despite a moderate increase in the unfilled orders of the United States Steel Corporation. The suspension of Monroe and Company, the oldest American Bank in Paris, and the announcement of a reduction in the initial payment of ’the Canadian Wheat Pool were reflected in the markets of the United States. GENERAL CROP DECREASES. WASHINGTON, November 10. The United States crop report indicates that the 1930 maize production 'will total 2094 million bushels, a reduction of 520 million bushels ocmpared with 1929. The total production of seventeen of the principal crops, not including wheat, is six point two per cent, below that of last year. and five point one per cent, below the ten year average.