PRICES SOAR AGAIN
BULLISH INFLUENCE IN WALL STREET WAVE OF OPTIMISM New York, November 11. Following numerous bullish statements, the most influential of which was Mr. Andrew Mellon’s declaration that with the aid of the leaders of both branches of Congress an income tax reduction of 1 per cent, would be effective, the stock market revived. On a wave of optimism prices shot forward at the opening, remaining firm at the close, with gains of one to twenty points recorded, and market “values” increased by some five billion dollars. United States Steel again led the way, closing at 160, up BJ. Among the other leaders, General Electric soared over 20 points; Westinghouse, 15; American Can, 14; American Telephone, 8}; International Telephone, 11. The entire market gained strength, a great weight seemed lifted, and optimism was general.
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Bibliographic details
Dominion, Volume 23, Issue 45, 16 November 1929, Page 11
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136PRICES SOAR AGAIN Dominion, Volume 23, Issue 45, 16 November 1929, Page 11
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