ON WALL STREET

Hokitika Guardian, 16 March 1932, Page 5

ON WALL STREET

STOCKS DECLINE AS RESULT OF SUICIDES. United Press Association. —By Eleotri* telegraph.—(Jopyrignt.j NEW YORK, March 15. Downward repercussions of Ivan Ivre tiger's suicide in the world financial markets are being felt on Wall Street, where the stocks of the Kretiger.ancl the 'loll and the-allied interests. also the bonds fell sliaiply in price. This decline has been augmented by the' death of George . Eastman, of Kodak fame, which has caused a general weakness on the Stock Exchange and one which the favourable news of Marshal Von HindenburgV large majority in the German Presidential election has been unable to overcome.

The closing prices lepresented board declines in nearly all issues. The Ivreuger Toll Coy. shares opened at 1 7-3 and closed at 2 7-8 fer a net loss of 2j. The International Match Coy. shares closed off s£. On the Bond market, the International Match five per cent were off twelve, and Kreuger Toll sixes were off sixteen. Financial experts assert that in view of the complicated condition of the vast Kreuger interests and securities there is a psychological reaction to his sujcide, the full signifianeo of which cannot be determined until further developments, The word of Eastman’s suicide came late in the day’s trading.' Apparently it affected mainly his own concern’s shares, which closed at £74, being off by 6*.

ALL STOCK MARKETS SLUMP LONDON, March 15. The stock markets of the world are depressed on account of Ivan Krcuger’s death. Prices have been heavily marked down, but there is no panic. The prices of the Swedish Match Coy. and other Kreuger Company shares in London have indeed rallied from the worst though there has been a good deal of liquidation of the shares from the Continent.