WALL STREET DEBACLE
SENSATIONAL . ‘ ‘ BEAR ” RAID. SHARES GO OVERBOARD. DAY’S TOTAL 8,270,260. (Received 9 a.m.) NEW YORK, May 6. The Stock Exchange suffered another “bear” shock yesterday, with sales closing at the 6,000,000 share mark at 2.10 o’clock in the afternoon. This is the first time that total has been tcached since November 13. United States steel shares crashed down' to 166 - (off four points). Then the entire market followed. Steel prices crashed three to 10 points. At the end of the day, however, United States steel shares had reached 1715,representing a rise of I*-. The General Electric Company’s shares wound up at 77|, representing a § advance. May vwheat made a new low level at a dollar per bushel and rallied only one-eighth cent before closing. Cotton futures dropped nearly two dollars per bale. Shortly before closing time there was a rally in stocks, but it came too late to effect sufficiently high gains although recoveries from one to throe points did occur. The sales totalled 8,279,260 shares.
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Northern Advocate, 7 May 1930, Page 5
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168WALL STREET DEBACLE Northern Advocate, 7 May 1930, Page 5
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