CONTINUED SELLING

Otago Daily Times, Issue 20875, 15 November 1929, Page 9

CONTINUED SELLING

, WALL STREET MYSTIFIED. MEMBERS TO STATE POSITION. (United Press Association.) (By Electric Telegraph—Copyright.) NEW YORK, November 13. (Received Nov. 14, at 5.5 p.m.) With another vicious drive against stocks, which lowered prices two to fifteen dollars a share to a new low level, the Stock Exchange issued a call to members to state their position by noon on Noveraher 16 as at the closq of business on November 12. The market closed with the leading stocks near the bottom of the list, a few issues slight rallies. ■ Steel closed one up from low 1514 off two, general Electric 173 off 114, American Telephone and Telegraph 207 np.four, and Telephone rallied sharply from 1974. The questionnaire to members is expected to show the Exchange who is in the market and what is being done. Wall Strcet'to-day is mystified at the continued selling, and speculation runs high as to whence it came. Near the close an order was received for 1.000,000 shares in the Standard Oil from New Jersey at 50 dollars a share. It is believed that the order is from Mr Rockefeller In a further attempt to check liquidation. ONE RESULT OF DEBACLE. EPIDEMIC OF SUICIDES. NEW YORK, November 14. (Received Nov. 14, at 11 p.m.) With the suicides of Mr Searle, president of the Rochester-New York Gas Electric Company, on account of a 1,000,000-dollar loss on the stock market, and of Mr Riordan, president of the County Trust Bank here, following similarly large losses dn Wall street, there have now been at least four suicides of well-known financial figures throughout the United States as a result of the speculative collapse. Moreover, there arc continuous reports of suicides of men and women whose fortunes were wiped out by the financial debacle.