AN OPTIMISTIC TONE.
ON iNW YORK EXCJHANGE. RECOVERY OF STOCKB. ENTIRE MARKED -GAINS STRENGTH United Press Assn. —Elec. Tel.—Oopytfkkt, (Received Nov. 15, 10.15 a-m.) NEW YORK, Nov. 14. Following numerous "bullish” statements, the most influential of which was Mr Mellon’s declaration that with the aid of the leaders of both branches of congress, an income tax reduction of 1 per cent, would be made effective, the stock market revived on a wave of optimism. Prices shot forward at the opening, remaining firm at the close, with gains of one to 20. points recorded, and market values increased some £1,000,000,000- Steel again led the way, closing at 160 (Up 8i points). Among other leading stocks were: General Electric (whioh soared over 20 points), Westinghouse (15), American Can (14), American Telephone (84), and International Telephone (11). The entire market gained strength. A great weight seemed to have been lifted, and op« timism was general.
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Bibliographic details
Waikato Times, Volume 106, Issue 17869, 15 November 1929, Page 7
Word Count
152AN OPTIMISTIC TONE. Waikato Times, Volume 106, Issue 17869, 15 November 1929, Page 7
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