DECLINE ON STOCK EXCHANGE.
HEAVY DECLINE IN PRICES. United Press Association —By Electric Telegraph—Copyright NEW YORK, April 29. A general decline, reaching the greatest proportions in Latin American issues, featured late trading on the bond market to-day. New bottoms were established by Australian 4i per cent., 1956, and New South Wales, 5 per cent., 1958. The entire stock list is unsettled. The majority of the principal issues experienced considerable liquidation, following a drive against United States steel common, which closed at 1151 off nine-eighths. The day’s sales totalled 3,200,000 shares. One million dollars were cut from the market valuations of steel alone, dropping over 70,000,000 dollars in the quoted value. . To-day’s decline reached the climax of a lengthy period of gradually sinking prices, which to-night in numerous instances closed near the low levels of 1927.
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Bibliographic details
Timaru Herald, Volume CXXXIV, Issue 18865, 1 May 1931, Page 9
Word Count
135DECLINE ON STOCK EXCHANGE. Timaru Herald, Volume CXXXIV, Issue 18865, 1 May 1931, Page 9
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