BOOM IN NEW YORK.
EXCHANGE ACTIVITY. ALL RECORDS PASSED. PUBLIC RUSH MARKET. By Telegraph—Press Assn.—Copyright. Received Nov. 21, 10.50 p.m. New York, Nov. 20. One result of the cyclonic market has been to increase Mr. Rockfeller’a fortune to a hundred and eleven millions. His holdings in nine Standard oil units increased by over 98 millions in market value, while the dividends therefrom will be, at a minimum, thirteen milliens. Trading continued at high pressure to-day. rails leading a renewed advance and three new records were made. Yesterday’s sales exceeded anything in the history of the Stock Exchange. The number of issues traded in was the greatest and the average for representa T tive industrial and railroad stocks was the highest on record. It is now frankly admitted that many values are above those warranted by their earnings. The public is rushing into the market, which is highly speculative, but there is no sign yet of the inevitable reaction.
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Taranaki Daily News, 22 November 1924, Page 7
Word Count
158BOOM IN NEW YORK. Taranaki Daily News, 22 November 1924, Page 7
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