MARKET LOSSES BEDLAM IN NEW YORK

Wanganui Chronicle, Volume 80, Issue 101, 30 April 1937, Page 7

MARKET LOSSES

BEDLAM IN NEW YORK

WALL STREET PESSIMISM BROKERS’ FEVERISH DAY NEW YORK, April 28. Stock prices tumbled from one to six points in another heavy wave of selling, turning the exchange floor into bedlam, with brokers struggling to execute the flood of bearish orders. Wall Street is plunged into pessimism at the downward trend, blaming the situation to a variety of fagtors, the chief being President Roosevelt's warning to Government employees against speculation and his efforts to curb the speculative orgy in commodity prices. United States Steel lost 6 points, Chrysler 41, General Motors U, United States Smelting 5. Selling for foreign account continued heavy.

NO STICKING POWER THE MARKETS GLOOMY LONDON, April 28. That it seems that there is no sticking power in the markets was the gloomy conclusion of City business circles. The rally in the morning tailed off into dismal selling in the afternoon. A heartening change of sentiment is reported from the Continent, and the Vienna, Budapest, and Prague Bourses made good most of yesterday’s heavy falls. MORE CHEERFUL TONE MARKETS TAKE HEART AGAIN LONDON, April 28. Mr fTeville’s Chamberlain’s statement has heartened the markets, and industrials particularly were more cheerful. The Australian Associated Press City editor understands, however, that neither the City nor many of the Conservatives are completely satisfied, and will press for important amendments and concessions.