STOCK BOOM CREATED 206 NEW MILLIONAIRES
Now 496 in United States
FABULOUS PROFITS MADE ON SHARES NEARLY 5,000,000,000 DOLLARS United Press Association. —By Electric Telegraph.—Copyright. Received Monday, 7.40 p.m. WASHINGTON, Feb. 3. The Infernal Revenue Bureau, in a preliminary report of taxable income tor 1928, disclosed an amazing story of stock profits, with the creation of 206 new millionaires to a total of 496, and a remarkable rise in the general level of net incomes of individuals throughout the country. In thin year, in which the great stock boom began, 24 persons had incomes of 5,000,000 dollars or more, compared with 11 in the preceding period. Profits taken in the stock market and in the sale of other capital assets totalled 4,786,512,771 dollars, compared with approximately 2,895,000,000 in 1927. The average net income was 6078 dollars 93 cents.
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Bibliographic details
Manawatu Times, Volume LV, Issue 7134, 4 February 1930, Page 7
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138STOCK BOOM CREATED 206 NEW MILLIONAIRES Manawatu Times, Volume LV, Issue 7134, 4 February 1930, Page 7
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