BOOM IN NEW YORK.
EXCHANGE ACTIVITY. RY CABLE—PRESS ASSOCIATION—COPYRIGHT. NEW YORK, Nov. 20. One,result of the cyclonic market has been to increase Mr Rockefeller’s fortune to £111,000,000. His holdings in nine Standard Oil units increased by over £98,000,000 in market value, while the dividends therefrom will he, at a minimum, £13,000,000. Trading continued at high pressure to-day, rails leading a renewed advance, and three new records were made. Yesterday’s sales exceeded anything in the history of the Stock Exchange. The number of issues traded in was the greatest and the average for representative industrial and railroad stocks was the highest on record. It is now frankly admitted that many values are above those warranted by their earnings. The public is rushing into the market, which is highly speculative, hut there, is no sign yet of the inevitable reaction.
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Hawera Star, Volume XLVIII, 22 November 1924, Page 5
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138BOOM IN NEW YORK. Hawera Star, Volume XLVIII, 22 November 1924, Page 5
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