RAPID DECLINE ON NEW YORK STOCK EXCHANGE
NEW YORK, Sept. 20 (Rec 11.15 a.m.). —The financial and commodity markets today continued the adjustment to the new conditions brougnr about by devaluation. In the early trading on the New York Stock Exchange most issues lost fractions, bui they declined rapidly as trading continued. Prices fell about one dollar to three dollars a share, and about 1 000,000,000 dollars "was lopped on the market value of the total stocks listed on the exchange. The international currency devaluation played a part in the markets - action, but the news of the threatened strikes in the coal, steel and automobile industries was the major force. Gold shares were consistently higher, gains ranging to over one dollar a share. Wool markets steadied and some tops gained a shade. Grains lost fractions.
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Greymouth Evening Star, 21 September 1949, Page 5
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135RAPID DECLINE ON NEW YORK STOCK EXCHANGE Greymouth Evening Star, 21 September 1949, Page 5
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