WALL STREET BOOM.

Hawke's Bay Tribune, Volume XIV, Issue 283, 10 November 1924, Page 5

WALL STREET BOOM.

APPRECIATION OF STOCKS. EFFECT OF THE ELECTIONS. New York, Nov. 8. Led by railway shares, the Stock Exchange made a rec&rd upward swing on the crest of a tremendous up grade movement started by the results of the national elections. Already hundreds of millions of dollars have been added to the market value of securities and the advance continued to-day, which was one of the greatest trading days recorded, considering that the market closed early. Officials declared that the public were entering trade more than for many years. Nearly 1,500,000 shares in stock changed hands this morning, the total value of the bonds sold being nearly. 14,000,000 dollars. There was almost a record turnover on Friday of 2,250,000 shares, with trading in 506 separate issues/and the total bond sales amounted to nearly l 25,000.000 dollars, which is the highest in recent years. The volume of business is greater than since 1919. Every house worked at top speed to handle the tremendous volume of business —

Bankers and industrial leaders predict tremendous business advances. Judge Gary, chairman of the United States Steel Corporation, says that never before in history has any country had such an opportunity for advancement as America to-day. Many other business heads predict a boom of tremendous dimensions.

Wall Street began the quotation of the new German reichs mark at the par value, 23.8 cents per 100. The Swedish kroner for the first time this year sold above par. Wall Street sold more than 2,000,000 shares, the highest transaction for two years.