STOCK SPECULATION

Greymouth Evening Star, 28 March 1930, Page 7

STOCK SPECULATION

WALL STREET REVIVAL. [BY CABLE —PRESS ASSN. —COPYRIGHT.] (Received March 28, 1 p.m.) NEW YORK, March 27. The stock market experienced a second'successive major trading day, with the sale approximately of five million shares. The great rush of business produced an irregular trend. Small investors returned in greater numbers than at any time since the break in the autumn. Prices shot up, eased, and advanced again, with profit taking toward the close. Each bulge of prices found tickers so far behind that many sold stocks because they were unable to keep track of the market movements. The “bulls” found inspiration in the tremendous activity and strength of the leaders in all groups. Many new high levels were made in the course of the day, and despite attempts of the “bears” to bring a reaction, no great pressure could be discerned. Attempts to bring down individual stocks met a stubborn resistance. Steel common touched a new high rate of 1938, and then dropped slightly. Utilities made wide gains, highs being scored by the American Telephone and Telegraph, Electric Power Light. Consolidated Gas. General Gas and Electric, Pacific Lighting, and others.