BIG BUSINESS

Sun (Auckland), Volume IV, Issue 933, 28 March 1930, Page 9

BIG BUSINESS

HEAVY STOCK BUYING IN NEW YORK LIVELY DAY ON ’CHANGE United P.A —By Telegraph—Copyright Reed. 10.10 a.m. NEW YORK, Thurs. The Stock Market experienced its second successive major trading day with a sale o£ approximately 5,000,000 shares. The great rush of business produced an irregular trend and small investors returned in greater numbers than at any time since the jrreak in the autumn. Prices shot up, eased and advanced again, with profit-taking toward the close. Each bulge of prices found the tickers so far behind that many operators sold stocks because they were unable to keep track of the markets. “Bulls” found Inspiration in the tremendous activity and strength of the leaders in all groups. Many new high levels were made in 'the course of the day and despite the attempts of the “bears" to bring a reaction, no great pressure was discernable. Attempts to bring down individual stocks met with a stubborn resistance. Steel, common, touched a new high level and then dropped slightly Utilities made wide gains, high levels being scored by American Telephone, Telegraph, Electric Power and Light, Consolidated Gas, General Gas, Elec trie Pacific Lighting and others.