FRENZIED FINANCE
U.S. STOCK MARKET. CRUMPLES UNDER SELLING ORDERS. [United Press Association—By Cable— Copyright.] [Australian and N.Z. Press Association. 1 ('Receive! 26, 10,15 a.m.) New York, March 25.
Call money soared to 14 per cent., which is the highest rate since 1920, when it touched 15. The stock raaiket crumpled under the avalanche of selling orders. As a result of this stringency, with losses ranging from one to ten points, the decline gathered headway towards the close and the Exchange was galvanised into action and the customary decorum was broken.
To-day’s shortage of money is believed to reflect the fear of further action against the market by the Federal Reserve Board.
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Bibliographic details
Hawke's Bay Tribune, Volume XIX, Issue 83, 26 March 1929, Page 5
Word Count
111FRENZIED FINANCE Hawke's Bay Tribune, Volume XIX, Issue 83, 26 March 1929, Page 5
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