STOCK EXCHANGE SLUMP.

Timaru Herald, Volume CXXV, Issue 18598, 20 June 1930, Page 9

STOCK EXCHANGE SLUMP.

ANOTHER WALL STREET CRASH. (United Press Association—By -lectrle T'el egraph—Copyright.) NEW YORK, June 18. The Stock Market struck another heavy decline to-day, and by noon at least 500 issues were estimated to have j made either new low levels for the year or to have equalled their previous low levels. It is estimated that the tremendous drop during the forenoon had swept away another three billion dollars of market values, adding to the vast losses incurred in the past few days. Semi-demoralisation also developed in the commodity markets throughout the country. Wheat dropped 3to 3 1-8 cents at Chicago, July selling at 95 cents—a new low level for the crop. Sugar futures plunged to the lowest level on record, when July sold off to 1.29 cents per lb.. Cotton futures swept downward 75 cents to a dollar 75 cents per bale. Copper prices broke to lli cents per lb—the lowest in nine years. Silver reacted again. Rubber futures broke to record low levels. No group was immune from the unloading process. On the Stock Exchange, United States steel dropped to a new low level—ls 6 representing a fall of 43 points from the previous close. American car shares were down to 116. a decrease of 7. Westinghouse Electric were down to 131, £ c. ?rease of 63. Radio Corporation

33 5-8, a decrease of 2 3-8. Railways were one to four points lower.