NEW YORK REPORT.
WASHINGTON, Nov. 24. The Securities Exchange Commission in a long report ostensibly answering criticisms by the president of the New York Stock Exchange, Mr C. R. Gay, announced the collapse of negotiations conducted with tlie New York Exchange in an effort to secure voluntary regulations. The report contains the charge that members of the exchange trading on their own account made very heavy short sales during the September break in the market, further depressing prices, and goes on to warn that speculative groups have utterly disregarded the public interest, thus increasing public distress to the point of demoralisation. The report declares that the exchange membership is, too large, and demands voluntary revision of the administrative and functional techniques throughout the country’s exchanges, otherwise the _ Securities Exchange Commission will compel this step to he taken.
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Bibliographic details
Manawatu Standard, Volume LVII, Issue 306, 25 November 1937, Page 11
Word Count
137NEW YORK REPORT. Manawatu Standard, Volume LVII, Issue 306, 25 November 1937, Page 11
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