UPWARD MOVE
PRICES IN UNITED STATES SHARES AND BONDS DROP Rec 10.30 p.m. NEW YORK, Nov. 29. A fresh outbreak of inflationary fever further unbalanced the nation’s economy this week as Congress debated the adoption of limited rationing, price, wage and allocation controls. The prices of wheat and other principal grains increased, and butter and other foods cost more. Prices of coal, automobile tyres and crude oil were increased by some producers, and a third round of wage increases was forecast for 1948. Stock markets took a pessimistic view of conditions in general. Transactions resulted in a decrease of about 1,500,000,000 dollars in the quoted value of shares listed on the New York Stock Exchange, on which price averages decreased to the lows prevailing around the end of September. It was the widest loss in any week since the week ending August 8. Bonds also declined. Livestock prices were nominally steady at Chicago to-day, but all classes moved sharply upwards during the week.
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Otago Daily Times, Issue 26632, 1 December 1947, Page 5
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163UPWARD MOVE Otago Daily Times, Issue 26632, 1 December 1947, Page 5
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