NEW YORK STOCK MARKET.
DROP IN WALL STREET TRADING. NEW YORK, Dec. 2. The entire stock market has dropped, due to a series of rumours and rejiorts affecting steels and railways. Tire latter lost as much as 30 points on receipt of- the news of the proposed wage reductions on the Canadian railways, which, it is believed, may influence similar reductions among American companies. Fears of difficulties for further railways, following a receivership for the Wabash railway, also affected the market. It "is rumoured that the United States Steel common stock dividend may be eliminated, and the preferred payment is not being earned. Steel common stock equalled the low record since 1915 at 51f. Preferred stock dropped over four points to the lowest since 1924. American Con, Westinghouse, and other leading industrial stock also touched new low levels. Grain futures also dropped.
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Manawatu Standard, Volume LII, Issue 4, 4 December 1931, Page 7
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142NEW YORK STOCK MARKET. Manawatu Standard, Volume LII, Issue 4, 4 December 1931, Page 7
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