IN GOOD SHAPE

Wairarapa Times-Age, 10 December 1941, Page 6

IN GOOD SHAPE

NEW YORK STOCK MARKET FIRST DAY’S TRADING. PROTECTION OF GOVERNMENT ISSUES. (Received This Day, 9.40 a.m.) NEW YORK, December 9. The “Wall Street Journal” today says that Mr Emil Schram, president of the New York Stock Exchange, is well pleased with the steadiness of the stock market in the first day’s trading in the war against Japan. Before the opening Mr Schram conferred with Federal Reserve Bank officials and Exchange officials, thus creating a good understanding. Firstly, there would be no heavy selling of Treasury issues and secondly, large institutional holders of Government bonds were assured of no dumping of Government bonds on the market. Naturally, word of this meeting spread rapidly among all those who trade daily in Government stocks and consequently Mr Schram, at the end of the day’s trading, was well satisfied that the market was in good shape to meet the shock of a shooting war. VICTORY FINANCE PRESIDENT & PRIORITIES BOARD. (Received This Day, 9.40 a.m.) NEW YORK, December 9. The New York “Journal of Commerce’s” Washington correspondent says a vastly expanded victory programme, involving the expenditure of nearly 5,000,000,000 dollars monthly for war goods, was discussed today by the Supply Priorities Allocations Board with President Roosevelt. HEAVY SELLING BUT LOSSES NOT MORE THAN ' TWO POINTS. (Received This Day, 10.35 a.m.) NEW YORK, December 9. Unconfirmed adverse war rumours caused heavy selling on ’Change today, but the losses were not more than two points. Trading reached a point at which the tickers were outpaced. BLACKOUT RIOT ANGRY CROWD IN SEATTLE. WINDOWS OF THE NEGLECTFUL SMASHED. (Received This Day, 12.5 p.m.) SAN FRANCISCO, December 9. A crowd of nearly 3000 roamed Seattle’s business district early today, smashing windows in the stores which failed to observe the blackout. Several persons were taken into custody and at least four were treated for injuries.