WALL STREET SLUMP
HEAVY SALES RECORDED
[BY CABLE —PRESS ASSN. —COPYRIGHT.]
(Recd. May 6, 1 p.m.) NEW YORK, May 5.
The Stock Exchange suffered another “bear” shock to-day, with sales crossing the six millions share mark at 2.10 in the afternoon. This is the first time that total has been reached since November 13. United States Steel crashed down to 1661 off four points. Then the entire market followed. Steel prices crashed from three to ten points. May wheat made a new low level at a dollar per bushel, and rallied only eight cents , before closing. Cotton futures dropped nearly two dollars per bale. Shortly before closing there was a rally in stocks, but it came too late to effect sufficiently high gains, although recoveries from one to three points did occur. The sales totalled 8,279,260. United States steel ended the day at 1713 representing a rise of one and 'a-half, and General Electric at 77 7-8, representing an advance of 3-8.
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Greymouth Evening Star, 6 May 1930, Page 5
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162WALL STREET SLUMP Greymouth Evening Star, 6 May 1930, Page 5
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