SLUMP IN AMERICA

Evening Post, Volume CXI, Issue 114, 11 November 1930, Page 10

SLUMP IN AMERICA

CROPS BELOW AVERAGE

STOCKS FALL IN WALL STREET

(Received 11th November, 2.45 p.m.} WASHINGTON, 10th Nov. The crop report indicates that th« 1930 maize production will be 2094 i million bushels, a reduction of 520 million below 1929: The total productioa of seventeen principal crops, not including wheat, is 6.3 per cent, below last year and 5.1 per cent, belrfw a tenyear average. The stock market in New York and the wheat market in. Chicago continued their downward trend to-day, stocks losing from one to eighjt points and wheat declining four cents. Standard Oil of New Jersey sold below 50, and United States Steel reached 138,- despite a moderate increase in the infilled orders of the United State* Steel Corporation. The suspension of Monroe and Company, the. oldest American bank in. Paris, and the announcement of the reduction of the initial payment of the Canadian wheat pool were reflected i» markets of the United States.