Knockdown

Just as "investment trust buying" was a potent pushup factor in 1929, "investment trust selling" has been a big knock-down factor in many a stock recently. Last week Tri-Continental Corp., investment trust sponsored by J. & W. Seligman & Co., issued its third quarter report—one of the first major trusts to do so. At the same time Selected Industries, Inc., Tri-Continental supervised, published its showing. The investments of Tri-Continental Corp. had, on Sept. 30, a market value of 29 millions against a cost of 51 millions. The...

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