DISASTROUS DAY
SLUMP ON BERLIN BOURSE
HUGE LOSSES SUFFERED
(Received 14th May, 1 p.m.)
BERLIN, 13th May. The Stock Exchange has experienced one of its most disastrous days. An enormous slump in share value resulted in the loss of many huge private fortunes, while banks, and industries suffered severely. Towards the close of the Bourse the big banks intervened, causing a slight rally, but this did not compensate for the day's deficit. Glanzstoff (artificial silk) dropped 150 and Schultheiss 'Brewery 74 points. Thousands of foreigners lost heavily. The Dyestuffs Trust benefited, because it foresaw the slump, sold short, and is now rebuying its own shares cheaply. The slump is attributed to, among other causes, the Bank of England maintaining its rate.
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Bibliographic details
Evening Post, Volume CXIII, Issue 112, 14 May 1927, Page 10
Word Count
121DISASTROUS DAY Evening Post, Volume CXIII, Issue 112, 14 May 1927, Page 10
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