WAVE OF SELLING.
TRADERS IN NEW YORK
President's Reference to Stabilisation.
PRICES DOWN A TEW POINTS.
United P.A.—Electric Telegraph—Copyright) (Received 1.30 p.m.) NEW YORK, January 3. On the first reading of president Roosevelt's message to Congress traders interpreted his reference to the exploration of stabilisation possibilities as '•'bearish" news. Traders, therefore, started an immediate wave of selling, which, forced prices down to the extent of from one to three points. Commodities sank lower sympathetically. Conversely, the dollar strengthened against foreign currencies. The Government's prices for the purchase of gold are unchanged.
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Bibliographic details
Auckland Star, Volume LXV, Issue 3, 4 January 1934, Page 7
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91WAVE OF SELLING. Auckland Star, Volume LXV, Issue 3, 4 January 1934, Page 7
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