STOCK MARKET SLUMP.
VAST AMERICAN LOSSES.
NEW LOW PRICE FOR WHEAT.
(Received Juno 19, 5.5 p.m.) NEW YORK, June IS,
Tho New York stock market again slumped heavily to-day. By noon at least 500 issues were estimated either to have fallen to new low levels for tho year or to have equalled their previous lowest prices.
It is estimated that tho tremendous drop during tho forenoon swept away another 3,000,000,000 dollars in market values, in addition to the vast losses incurred in tho past few days. A state almost of demoralisation also developed in tho commodity markets throughout tho country. Wheat dropped by from 3 to 3jj cents at Chicago, July wheat selling at 95 cents, a new low record for the crop. Sugar futures dropped to tho lowest level on record, when July delivery fell to 1.29 cents per lb. Cotton futures fell 75 cents to 1 dollar 75 cents a bale. Copper pi'ices broke to llg cents per lb., tho lowest for nine years. Silver reacted again, and rubber futures fell to record low prices. No group was immune from the unloading process on tho Stock Exchange. United States Steel, American Canning Company, Westinghouse Electric, Radio Corporation und various railway stocks suffered heavy losses.
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New Zealand Herald, Volume LXVII, Issue 20595, 20 June 1930, Page 11
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206STOCK MARKET SLUMP. New Zealand Herald, Volume LXVII, Issue 20595, 20 June 1930, Page 11
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