Salt Lake Telegram | 1928-12-08 | Page 8 | Additional Market Reports

THE fHI SALT ALT LAKE LAKI TELEGRAM SAT V Additional Ma Market ket Reports Reports' HI If I P PRICES CRASH WIH VIOLENCE f Radio adio Dives 72 Points Point to Ticker Swamped i in Fast Trading i j r i j 1 By STANLEY W. W 7 Associated Press Pros Financial Editor NEW YORK Dec 8 S AP AP Prices crashed violently for the third sue day on the stock market to today to to- day Radio making a spectacular dive of 72 72 points point to which is points under its it record price established this week The TI-ic market opened with wih pools supporting a few I favorites but all al support was with with- ar wn when whon Radio began to slip f. f dizzily lp Aero lost 26 points Mont Mont- gomery tomeY Ward a Cose Cae Threshing and DY Byers s 20 to 24 Sears Roebuck lost 0 10 0 Packard Johns Johns and Jot Chrysler about abut 8 S and General Mo Mo- tot tors 5 Among the handful of ot gains 10 Bethlehem Steel and General Elec- Elec each closed cosed more than a point a Du Dit Pont which opened 25 points quick quickly lost Jost 20 points point of ot Its aln A. A M. M 1 Byers Byors moved up Is 23 points Kolster Radio Rossla In- In and Texas Teas Pacific Raft Rall- load joad sold down 5 to S 8 points Aero broke 25 points t to Wright I The violence of ot the reaction today toay was attributed in a a largo measure to the forced liquidation of ot f weak weak- ened ne marginal accounts Because of lIe ot the margins margins required most speculative accounts were unable to ere withstand the selling of Thursday t and Fida but today's drastic break n necessitated the dumping overboard O o of a a. a wide assortment ot of issues s ues V Bankers generally look the tho upon reaction as a a natural correction of ot a tp top top-beavy speculative o position Unless it should i proceed with wih unUsual un un- un- un usual violence they do not antic antici pate ato that it will wU have havo o ha any material Affect I t on business It I Is likely to res result 1 however In a withdrawal I of oC t funds loaned by corporations on se so- so collateral throwing the tile burlen bur bur- len den of oC financing tho mari mal market et ct back on Ion n the te banks So great gret was the tho volume of trading tradIng trad- trad Ing that the ticker fell fel nearly half an ni hour Ilour behind the tho market In the last half haIr hour hout- The closing was weak weal I Th cosing wa Total sales were were- shares a new Saturday record