NEW YOKE MARKETS.

New Zealand Herald, Volume LXVI, Issue 20405, 6 November 1929, Page 11

NEW YOKE MARKETS.

ANOTHER FALL !N STOCKS.

[ BUYERS LOOK FOR PROFITS. (Received November 5. 5.5 p.m.) NEW YORK. Nov. 4. The market values of stocks declined by several million pounds to-day on what was a quiet market compared with the recent frenzied trading, and there were bewildering changes in prices. The market was variable. It opened well down, with sales of great blocks of stocks. Then trading dropped off and the market gained. Prices later ranged up and down until just before the Exchange closed, when they broke again and at the close were again lower. There are various expressions of opinion regarding the market's peculiar form of activity, but nobody seems to know the definite causes. It is agreed, however, that temporary advances have brought out profit taking and the further selling of support stock, and in the opinion of brokers this unloading process will require a considerable time in view of the tremendous amounts of stock bought last week to prevent the break from going too far. The Stock Exchange will be closed tomorrow, when the mayoral election will be held. It will also bo closed at 1 p.m. on Wednesday, Thursday and Friday to enablo the brokers to catch up their arrears of work.