TWO BILLION DOLLARS LOST

Greymouth Evening Star, 17 June 1930, Page 5

TWO BILLION DOLLARS LOST

ANOTHER WALL STREET SLUMP. [BY CABLE —PRESS ASSN. —COPYRIGHT.] (Recd. June 17, 10 a.m.) .NEW YORK, June IG. Prices crashed again to-day on the Stock Exchange. Over 100 issues made new low levels for the year or longer, and more than two billion dollars in valuations were swept away in heavy liquidation. Prices broke three to sixteen points in active issues, and the whole list was carried to new low levels. On the reaction United Stages steel made a new low level for the year of 158]. Chicago, Philadelphia, Cleveland and Boston stock markets also reacted badly. Commodity markets, including cotton, wheat, bar-silver and rubber, likewise, were badly depressed. LATER. Strong banking support was forthcoming, but failed to check headlong decline in market prices to-day. Two hundred issues plunged to new levels in the most precipitous crash since November.

LOSSES INCREASE. NEW YORK, Juno IG. The New York Stock Market’s losses totalled well over five billion dollars. CANADIAN WHEAT DECLINES. OTTAWA, June IG. Dollar wheat ruled in panic on Winnipeg futures market to-day. Losses from four and five eighths to four and an eighth were recorded. July wheat closed at 99£ cents; October at 1030 and December at 1040.