NEW YORK EXCHANGE
COLLAPSE IN VALUES
(Received Bth July, 11.15 a.m.)
NEW YORK, 7th July
Stocks, after a firm opening, broke wide open and continued to drop throughout the session with an increasing downward momentum. . No signs of a recovery were discernible. A total of over two billion dollars in values was lost. All groups wero affected, notably railways. Auburn dropped over 20 points. Utilities were weak. Oils, coppers, and foods were likewise weak. The rush to take profits on the good news of the war debt accord gave "bears" their opportunity on Tuesday. The market took an. initial upturn of one to three points, but quickly lost, giving the market one- of the sharpest setbacks of the year. Losses, were1 two to nearly ten points, and numerous at the finish.
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Evening Post, Volume CXII, Issue 7, 8 July 1931, Page 13
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131NEW YORK EXCHANGE Evening Post, Volume CXII, Issue 7, 8 July 1931, Page 13
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