Business & Finance: Stock Market

Call money for transactions on the New York Stock Exchange reached 9% one day last week. That enticed vast new sums for loaning and retarded trading. Less trading caused less demand for the horde of money. So the call rate dropped the next day to 8%, to 7 1/2%. That in turn gave traders a chance to make money on stock deals. They scrambled. When the day was over they had swapped more than 4,700,000 shares. Motors and oils were popular. Someone bought $6,000,000 of General Motors stock in a single deal. There were...

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