MARKETS BOOM.
Stock Exchange Prices Soar. (Received January 16, 2.20 p.m.) NEW YORK, January 15. All markets soared on the President's monetary message. Stock Exchange prices were up one to six points in an avalanche of buying that put the tickers minutes late in recording the prices. All bonds were strong, even Government issues, observers interpreting the advance as an indication that Wall Street was glad that the uncertainty was over. The President went no further than was anticipated. Commodities made sizeable gains. Cotton was up two dollars a bale, and wheat over three cents a bushel. The gold price was unchanged to-day, but to-morrow will be 34.45 dollars, an advance of .39, making the theoretical dollar value 60 cents. To-day on the open market the value of the dollar was nearer that point, dropping over 2 1-3 at midday and trading to 61.40.
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Star (Christchurch), Volume LXVI, Issue 20205, 16 January 1934, Page 7
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144MARKETS BOOM. Star (Christchurch), Volume LXVI, Issue 20205, 16 January 1934, Page 7
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