STOCK MARKET SLUMP
GOVERNMENT AID IN ARGENTINA
ADVANCES TO ASSIST BROKERS (N.Z. Press Association—Copyright) (Rec. 8 p.m.) BUENOS AIRES. Feb. 24. The Argentine Government took drastic steps to-night to prevent a general collapse of the Buenos Aires stock market, as the result of an unprecedented slump in share values during the last month. The Government will advance 70,000.000 pesos to hard-pressed stockbrokers to enable them to meet tomorrow’s settlement day commitments. The Government had advanced 50,000,000 pesos at the end of January. The Government has also ordered a rise in margin requirements from 30 to 50 per cent., to combat speculation. For some shares the margin will be 100 per cent. Shares usually regarded as sound have slumped 60 per cent, in the last month. Informed market sources said that between 70 and 100 Stock Exchange members would have been unable to meet their end-of-month commitments.
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Press, Volume LXXXV, Issue 25739, 26 February 1949, Page 7
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146STOCK MARKET SLUMP Press, Volume LXXXV, Issue 25739, 26 February 1949, Page 7
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