Lists (None yet)

Login to create lists

Comments (None yet)

Add New Comment

2 corrections, most recently by anonymous - Show corrections

GRAIN PLUNGES.

ALL MARKETS AFFECTED

SHARP RISE AT CLOSE

MONTREAL, October 24.

Stocks in leading issues lost as much as 40 dollars on Thursday, a renewal of the reaction of the past 10 days.

Over 5,000,000,000 dollars ¡n market values were swept away in the great- est day in the market's history, before some of the most powerful bankers gave support which stopped the crash.

Over 11,500,000 shares were exchanged shortly after 2 o'clock, the tickers then being nearly three hours behind actual sales.

San Francisco and Philadelphia markets were also plunged down in sympathy.

The Chicago grain market was also badly hit, but was rising sharply at close, so that wheat prices came back to within 5 cents of yesterday's close, after dropping 12 cents in one of the wildest sessions in the year. At one period December wheat dropped 11 points, March wheat 12, and May 12. In the meantime in the Omaha wheat pit, not one sale was recorded, condi- tions in Chicago and elsewhere being too unstable for either bulls or bears to take a chance.

RECORDS SHATTERED.

Among financial records broke to- day was the sale on the curb of 1,151,- 900 shares of the Cities' service curbs principal stock. This is the greatest turnover that has been recorded of any single issue on any exchange. Stock opened at 557, and closed off 78 on the Stock Exchange. American tele- phone and telegraph shares opened at 273½, and broke to 245, rose to 274½, and closed at 269. Canada Dry Ginger Ale ranged between 80½ and 60, clos- ing off 11½. La Clede Gas touched 200, and closed at 198½, with a loss for the day of 26½. United States Industrial Alcohol had a 34 point range, closing at 176, off 25¼. Western Union rallied from 220 to 243, closing with a gain of 8.

CHICAGO, October 24.

Sharp rallies near the close pulled prices from the slump to a point nearer yesterday's closing quotations. The Ex- change saw its first million share day, with an all-time record sale of 1,220,000 shares. After a drop of 12 cents prices rallied to 7 cents for December wheat, and closed at 121¼.

WINNIPEG, October 24.

Wheat tumbled from 8½ to 13 cents in the early trading on Thursday, bearish news from Europe and Argen- tine and the weakness of Wall-street market being contributing causes.

NEW YORK. October 24.

Wheat stocks were dumped in terrific volume on Thursday. After sinking almost 15 cents the market cut the losses to 5⅝ to 6¼ (October), and closed at 131½.

TORONTO, October 24.

Millions of dollars in values were wiped out when a wide range of issues fell from two to 10 points on Thurs- day.

Zoom

plus
thumb
minus
left
thumb
right
up
thumb
down