N.Y. Stock Prices Break
NEW YORK, Fri. (11 a.m.)— Stock prices broke one to three dollars a share and more today in the first market reaction to President Truman's call for a special session of Congress. Securities of virtually every type of company joined the decline. Brokers associated the declining market with the effect European aid might have on domestic business, as well as the possibility of price controls or allocation devices to cope with climbing domestic prices.
Heavy selling swept the grain and cotton exchanges. Wheat, corn and oats dropped the permissible limit. Cotton futures opened 155 to 325 cents a bale lower than the previous close in New York and were 165 to 325 cents lower later in the day.
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Northern Advocate, 25 October 1947, Page 7
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122N.Y. Stock Prices Break Northern Advocate, 25 October 1947, Page 7
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