STOCK PRICES FALL

Hawera Star, Volume L, 18 December 1930, Page 5

STOCK PRICES FALL

f, '* ” " SHARP NEW YORK BREAK

“BELATED REPERCUSSION.” I United Preo, Assocmtiou— By Electric leiogiapu Copyright.) NEW YORK, Dec. 16. Stock prices broke sharply with a flood of selling orders. Almost the entire active list was driven into new low ground for a year or more. The latest wave, of liquidation is believed to have originated as a belated repercussion of the recent banking difficulties. A weakness in wheat and silver also contributed. United States Steels, common, sold at 136 dollars, a new low record for the bear market. The most important other new low levels were made by American Telephone, American and Canadian Consolidated, Gas, New York Central. Westinghouse Manufacturing, and Allied Chemical shares. MORE BANKS CLOSE. FOURTEEN IN TWO DAYS. NEW YORK, Dec. 16. Yesterday and -to-day. 12 hanks in North and South Carolina, and two in New York State closed. All had small capital. A previous cable stated that the total of small hank failures in the United States in the recent past had .reached 200.