New York, Oct. 21.
After—yesterday's. spectacular slump, which caused considerable panic and confusion, Wall Street today touched the other extreme and closed very strong.
Gains in securities of British interest ranged from anything up to $10, with all groups advancing. The consensus of opinion is that the market has now regained its poise.
Brokers and investment sources were flooded with enquiries on possible purchases and apparently even the man-in-the-street realizes that some knock-down prices prevailing more than discount the very pessimistic opinions on the general business outlook.
Prices rose from one to four or more points with some prominent issues rising as much as five to eight points. Trading, while not so heavy as yesterday, totalled 4,840,000 shares.—Reuter.
"Hands Off" Policy Approved Washington, Oct. 20.
Despite President Roosevelt's "hands off" policy in refusing to comment on the Wall Street break, it is indicated that he is seriously considering the matter, The greatest concern in Government circles is not over direct intervention but of preventing the reaction of the stock and bond markets from spreading into general business where some unsettlement, though not an actual crisis, prevails.
"More conservative elements in Wall Street feel that any desirable action on margins can well await quieter trading days, and approve the Administration's intention to do nothing for the moment—Reuter.
Text read from the printed page and cleaned; old type leaves the occasional error.