Colonel Ayers's article points o that, in the late summer and car! part of autumn, while stock prices were reaching peaks trusts floated new issues of stock amounting to over a billion dollars. Investors readily bought these in meny instances selling other ies to get hold of these new tissues. this selling tended to soften the is The article indicates that market in general, and that the selling was not offset by the trusts, who did not put their newly-nequired funds back into the market because they recognized that prevail-Ing security prices were too. high.
"Instead of buying stocks with' the millions of della turned over to them in August and September the managers of the investment trusts lent these funds to brokers, Neco, SrECIAL suave
Text read from the printed page and cleaned; old type leaves the occasional error.