PRICES RISE AND SAG
BEWILDERING CHANGES ON WALL STREET PECULIAR ACTIVITY United P.A.—By Telegraph—Copyright Reed. 12.40 p.m. NEW YORK, Mon. Several billion dollars were clipped from the market values of stocks, as what was a quiet market, compared with the recent frenzied trading, saw bewildering price changes. The market was variable. It opened well down, with great blocks of stocks being traded. Then trading dropped off and the market gained, after which prices ranged back and forth during the day, until just before closing, when they broke again and the close was 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 the temporary advances brought out profittaking and further selling of support stock, and in the opinion of traders this unloading process will require a considerable time, in view of the tremendous amounts of stock taken last week, to prevent the break from going too far. The market will be closed tomorrow, which is the mayoral election day. It is also announced that it will close at one o’clock on Wednesday, Thursday and Friday, to enable the brokers to catch up.
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Sun (Auckland), Volume III, Issue 812, 5 November 1929, Page 9
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199PRICES RISE AND SAG Sun (Auckland), Volume III, Issue 812, 5 November 1929, Page 9
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