Shock to Capitalists

Grey River Argus, 16 March 1932, Page 5

Shock to Capitalists

WALL STREET SCARED. (Aus. & N.Z. Cable Assn). (Received Alarch 15 at 10.30 p.m.) NEW YORK, March 14. Downward repercussions of Ivan Krpuger’s suicide in the world financial markets are being felt on Wall Street, where tire stocks of the Kreuger and the Toll and the allied interests, also the bonds fell off sharply in price. This decline has bee n augmented by the death of George Eastman, of Kodak fame, which has caused a general weakness on the Stock Exchange, and one which the favourable news of Marshal Von Hindenburg’s large majority in the German Presidential election has been unable to overcome. The closing prices represented broad declines in nearly all issues. The Kreuger Toll Coy. shares opened at 1 7-8 and closed at 2 7-8 for a net loss of 2|. The International Afatch Coy. shares closed off sjk On the Bond market, the International Afatch five per cents were off twelve, and Kreuger Toll sixes were off sixteen. Financial experts assert that in view of the complicated condition of the vast Kreuger interests and securities, there is a psychological reaction to his suicide, the full significance of which cannot be determined until further developments. The word of Eastman’s suicide came late in the day’s trading. Apparently it affected mainly his own concern’s shares, which closed at 74£. being off by 6j. ALL STOCK MARKETS SLUMP. LONDON, March 15. The stock markets of the world are depressed on account of Ivan Kreuger’s death. Prices have been heavily marked down, but there is no panic. The prices of the Swedish Match Coy an j other Kreuger Company shares in London have indeed railled from the worst, though there has been a good deal of liquidation of the shares from the Continent.