NEW YORK MARKET.

New Zealand Herald, Volume LXVI, Issue 20391, 21 October 1929, Page 7

NEW YORK MARKET.

GREAT DROP IN STOCKS.

DEPRECIATION ENORMOUS. Australian and N.Z. Press Association. (Received October 20, 11.45 p.m.) NEW YORK, Oct. 19. Reactionary forces took control of the New York Stock Market to-day, and with it devastating sweep reduced the values of listed securities to the lowest levels reached on the current declino. In the two hours to which business was limited active issues passed through one of the wildest breaks in history. Final , quotations revealed nett losses ranging from 5 to 25 points and the aggregate depreciation of open market values was estimated at £200,000,000, or more. The total turnover was 3,488,000 shares, representing the second heaviest, volume for a Saturday since the Exchange was established.

BUTTER AND CHEESE PRICES. THE DAIRY BOARD'S REPORT. i'he Now Zealand Dairy Produce Board has received the following market report from its. London office, duted October lb, prices for the previous week being giveji in parentheses: — Butler.—New Zealand: Salted, 17os to 184s per cwi (179s to .184s), (last year's figures, 176s to 184s) ; unsalted, 190s (186s to 1925), (last year's figures, 1863 to 190s); first- whey, 168s (1725) ; second whey, 164s (168s); deliveries New Zealand this week, 820 tons; in store, New Zealand this week, 5100 tons (last year, 2650 tons). Australian: Salted, 175s to 178s to 180s (176s to 180s), unsalted, 188s (188s to 190s). Argentine: Unsalted, 176s to 180s (176s to 180s). Irish: Salted, 176s (176s to 178s); unsalted, 178s to 179s (179s to 181s). Danish: F.0.b., 192s (188s); spot, 196s to 200s (194s to 200s). Dutch: Unsalted, 194s to" 196s (194s to 198s). Siberian: 168s to 172s (168s to 1725). Ukranian, 172s to 176s (172s to 1765). Polish: Salted, 156s to 170s (156s to 170s); uusulted, 156s to 1745. Market quiet. Retail prices unchanged. Cheese.—New Zealand: White, 93s to 94s (94s to 965), (last year, 109s to Ills); coloured, 92s to 93s (93's to 945) Deliveries Now Zealand this week, 9956 crates; in store, 49,957 crates. Canadinn; White and coloured, 94s to 96s (94s to 975); c.i.f., 93s Market quiet. Retail prices unchanged English fin6st farmers', 100s to 108s. CHICAGO WHEAT MARKET. Australian and N.Z. Press Association. (Received October 20, 5.5 p.m.) CHICAGO, Oct. 10. Wheat.—December, 1 dollar 27£ cents per bushel; March, 1 dollar 35 cents; May, 1 dollar 38 3-8 cents.

MARAEKAKAHO . STUD STOCK. [BY TELEGRAPH. —PRESS ASSOCIATION.] HASTINGS, Saturday.

The Maraekakaho stud stock dispersal sale was continued at the Valley farm this morning when the remainder of the well-known shorthorn stud was disposed of. A splondid lino of heifers was offered and the response was slightly better than yesterday. The top price was 41gns., paid by E. J. Wright (Canterbury), for the yearling Maraekakiiho Secret Lady 11. J. Scott (Canterbury), purchased three splendid animals at an average price of 36gns. Up to the luncheon adjournment the highest price for bulls was 90gns., which was paid by the Manawhaka Estate (Oamaru) for the four-year-old Maraekakaho Bold Baron.