CHEAP MONEY.

Auckland Star, Volume LXI, Issue 74, 28 March 1930, Page 4

CHEAP MONEY.

EXOOURAGXi SPECUI.ATIOX.

WILD TRADING IN NEW YORK

PRICES SOAR AGAIN. (Received 10 a.m.)' NEW YORK, March 27. The New York stock market experienced a second successive major trading to-day ■vrith sale approximately of five million shares. A great rush 6£ business produced an irregular trend. Small investors returned in greater numbers than at any time since the break in autumn. Prices shot up, eased and advanced again with profit taking toward the dose. .■■ i JSach bulge of prices found the tickers so far behind that many sold stocks because they were unable to keep the track of the market's movements. The bujls found inspiration in the tremendous activity and strength of the leaders in all group?. Many new highs were made in the course of the day, and despite attempts of bears to bring a reaction, no great pressure war discernible. Attempts, to bring down individual stocks met stubborn resistance. Steel common touched new high at . then dropped slightly. Utilities made wide gains, highs being scored by American telephone and telegraph, electric power, light, consolidated gas, general gas, electric Pacific lighting and , others.