WALL STREET EXCITED
RAILWAY SHARE SPECULATIONS
SUDDEN COLLAPSE OF SHARES. CPres» Association—By Telegraph—Copyright.) NEW YORK, February 9. The market .xperienced intense ment owing to wild speculation in “rails,” which finally undermined the technical position, sharp breaks in these undermining the entire market for Wheeling and Lake Erie scrip, which furnished spectacular leadership on an upward rise. The plunge downward was of even greater violence. After opening at 105 stock dropoed to 66§ at noon, and was scarcely more than 50 per cent, on Tuesday’s close. Various offerings had been thrown on the market in such a volume that the turnover expanded at the rate of 3,000,000 shares. The floor of the Exchange presented wild scenes as the stocks recoded. Brokers fought around the trading posts, pulling and shovine. The market later steadied somewhat.- —A. and N.Z. Cable.
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Otago Daily Times, Issue 20021, 11 February 1927, Page 9
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137WALL STREET EXCITED Otago Daily Times, Issue 20021, 11 February 1927, Page 9
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