EXCITED SALES.
NEW YORK STOCK EXCHANGE. NEW~YORK, March 30. An augmented flood of spelling orders descended upon the Stock Exchange, sending averages to new low marks for the year in both industrial and railroad stocks. The day’s sales totalled 3,356,200 shares, prices wilting as the big banking houses vainly attempted to stem the market’s downward course. Railroads were first assailed, sharp losses being sustained in New York Central and other great systems. Traders holding large blocks of industrials, fearing that they , would be the “bears’ ” next target, scrambled to sell, with the result that stocks such as United States Steel and Hudson motors reached the lowest quotations for a year. In the meanwhile, President Coolidge, the Secretary of Commerce, Mr H. Hoover, and the Acting-Secretary of the Treasury, Mr G. 8.-Winston, have reiterated their belief in the country’s soundness and prosperity, stating that they see no connection between business conditions and the fluctuations of stocks.—A. and N.Z. cable.
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Bibliographic details
Manawatu Standard, Volume XLVI, Issue 104, 1 April 1926, Page 8
Word Count
158EXCITED SALES. Manawatu Standard, Volume XLVI, Issue 104, 1 April 1926, Page 8
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