Stock Prices Stage Upturn

1929

New Year Advance; Many Issues at New Highs

NEW YORK, Jan. 2. — Stock prices were up, a bull-market, as the New Year began, with many issues up $5 to $21.50 a share.

Nearly 40 stocks, including General Electric, Bethlehem Steel, Anaconda Copper, Allied Chemical, Standard Oil of New York and Pennsylvania Railroad, were at their highest prices in years, perhaps ever.

The ticker fell behind nearly a half hour, so great was the volume of trading, and it was necessary to eliminate small sales volume from the tape.

Radio was up $20.50 a share to $395, International Nickel Certificates hit an all-time high at $275, up $21.50, General Electric and Union Carbide were up $10 each, and trading higher by $5 to $8 a share were National Biscuit, American Express, Adams Express, American International, Victor Talking Machine, Warren Bros., Purity Baking, Dupont, Liggett & Myers, Rossia Insurance, and Midland Steel Products.

—Jan. 2, 1929, written by Clippique from information in original article.