European Stars And Stripes (Newspaper) - May 30, 1962, Darmstadt, Hesse                                The stars and stripes Page 23 see entire 2-year Stock gain erased a Button Points out thatt 566 it a Zottl erasure of of bps various segments trading the volume of the w a greatest in the most that record volumes inc 1 Ude i on oct. 34.1329 10,727320 and 9, volume in recent year monday s was the shares traded sept. 26.time of former president  i eader ies of  order since 1933, dial Inere a Republican politics was of j  from of the Market starting to Bottom out one Stock at a  Selling movement in stocks is believed to have been carried Toan extreme although1 it is difficult to determine whether it has units course comments the advisory service Standard and poor s . Investment approach would be to withhold purchases tin til the list goes through � stabilization  " the service says the Market Nas reached a stage where it is being ruled largely by a psychological wave of uneasiness and adds an emotional Tippet such As be ing experienced,1 often feeds on it self More and More holders be come Panicky and us to protect vanishing profits or to prevent losses from mounting. The move ment gains momentum and almost invariably is carried to an extreme William r. White of Hornblower and weeks says that although dozens of spectacular issues have experienced drastic reappraisal it would be naive to suppose that All is go once More with the Stock Market James dines of a m. Kidder and co. Says in his opinion the Best strategy for investors is to remain cautiously on the sidelines prepared to jump either Way and retaining Cash and Nold stocks. The chairman of the american Stock Exchange Edwin Posner said these Are times4f you flex Cuse my being trite that try men s souls but added Well live through it just like we be done  Posner 71, discussed the Sharp drop in gentle terms. It s one of those situations he said. When the Public gets a Little Panicky prices Start dropping out. I m surprised it went this far. Where it la go no one can predict Posner who became chairman and temporary president of the american Exchange Early this year to help Correct faults found by a Federal Agency will step Down As president after labor Day in favor of 37-year-old Edwin Ether  said monday was the first time he had really been Dis Turbed by the Market s protracted downtrend. Asked what he Tough would Stop the Bear downward Market he said Well we won dered for a Long time what would Slop the Bull Market. Something dip to calamity Kelih Funston president of the Newyork Stock Exchange said Here monday s Market drop in no Way approaches a calamity. That something 1 Jih Ink Well ail agree on he  it is notate calamity. The people Selling Are Selling to protect profits they have already  Funston said it is impossible to generalize Why "15 million people want to i sell at a loss bad enough to make the Dow Jones Industrial average drop almost 35  but a drop like -that-,1s not a calamity he said people buy stocks not the Market Funston. President of the Exchange for 11 Vears was in san Antonio to speak at Trinity University graduation  sold there Are probably Sev eral reasons for the Selloff but he thinks one of the biggest is presi Dent Kennedy Tuss with the steel Industry. There has been growing disquiet among investors because of Ken Nedy s steel action,1 he said. And he wage Bill that would take with holding taxes from dividends prob ably had something to do with it. Formula adopted Taler paper loss gain pm. York of Cpd tote forum in computing the paper gain to a single Day  the Stocky Market came review tuesday in the Waken Day a heavy volume and in trading on major sex f8 spokesman for Standard & its said that Slock splits and �. German children Tome after West visit Jege. Germany fund ast German schoolchildren Jpn died to West Germany  returned Home last Lay after the communists ised there would be no re ils Eschwege count Manageri o Jjo Ehne said. Six children who were inne class mater it to West by to see what the West a really Sik. " /. Stock dividends had become fre quent enough that the formula used for years past no longer Hel True and that under a revised formula monday s Nape loss was about $20.8 billion. Under the old system it was $285. Billion. Under that system the Rise Orfall in the up Index of 500 stocks multiplied by the number of Bil Lions of shares listed on the Exchange was used to give the figure in billions of dollars for the paper value of gain or loss in  last monthly count 7.2 Bil lion shares were listed Oft the Newyork Stock Exchange. But Standard & poor s said that Lille its Index remained accurate it had been adjusted to allow for Liat amounted to a dilution of the numbers of stocks through the Stock dividends and Stock splits. This adjustment 11 said Mafle each Point in the averages represent about $5.24. Billion in paper values instead of $7.2 billion. Mutual funds prices Tafuni Maytub May 25bid asked Bio 7,44 733� i 46 stjb7,.� to i7.i7 17.84 i _ 14ji 15.7 17.08 jz94.4 1j7 936 -j5jb, js.18 11s.fs l38 t ims u.4b 46a.94 &79 i inv Tan Axi e34 6.ra invest. Co. Of Amarie invest. Trust of Button Loh Niton Mutual key ton in may2 Mays bib asked bid 8.m 9.7z 10.8 11.65 11.65 12.2  9.97 9.2 key Lone s2 Keyton s3 key Tomsa 11.4 loom i say Lei Matt. Inv growth Wal Lav. Trial Nafi �ac.-Dit. Str Tot Nat j see. Growth a see. To storm income. 4, �. One William St. To tied it. Putnam growth by 81m. Of lo�m.1 United tac Cunt 13.75 i4ja 13j,-14.9 6.67 7.m 7.ti 12.86 13.44 12.9 3.34 3.6i i.52 6.7 7.3s 7,00 7� 7-St 5.37 47- h.2sjj.8 34w 10.77 11.0-  w 4t ii.s5 took itt so fit jul ,9 13.79 m.49 13.8 he said there has been a Lessen ing of inflation that May have Coli Tribu cd to the Market slide an that the raising of savings and loan interest rates makes for Stiffe Competition for the investor s Dol Lar. But business prospects Don look bad at All now he said. The credit situation is Good. There is Little danger of overextended  did but we Don t know  another broker who like Posner was in business when the big crash came in 1929, was As slow As pos Ner to show any outward signs of distress. Eldon Grimm of Walston and  t even wait for the delayed tape quotations to reach an end before beading for his Home la Connecticut. He asked what the official drop in the Dow Jones averages was and when told said my Thamisn t so Good is it he saw the Selling As forced by loan Calls lenders requiring More Money to cover collateral when Stock prices fell this brought forced Selling he said to get Money to meet the Calls which drove prices lower and generated More loan Calls. It gets to be a Chain reaction thing he said like when Yon Knock Down a line of  but he termed the Market Over sold said there were some bargain Hunters and institutions baying and that a lot of the psychological effect of this was lost because the ticker tape lagged and buyer could t Tell what was going on. Supporting Grimm s comment late Calls monday to brokerage houses were answered by margin department staff people still wrestling with collateral computations. Markets Echo Wall Street plunge reverberations in Europe from Tress dispatches the nosedive on Wall Street sent Stock markets plunging tues Day in Britain and Continental Western  was the picture London the heaviest one Day crash i years. Brokers called it the worst since the  by late afternoon the Jfhn Ancial times Index had crashed to 262.6, a fall of 16.7 since monday. Over the whole of last week which was a bad week for stocks too the total fall was 11 Points. This was the biggest fall since the Index started in 1935. _ j Section escaped the  from Stock Exchange chair Man lord Ritchie to Small investors put your Heads Down and let the wind blow Over  Amsterdam International stocks dropped Smuch As 60 Points but the dutch proved buyers rather than , Swiss and germans unloaded but there was no panic Selling. A key counter Phillips electrical industries dropped 66to 675. Market verdict weak but not  Zurich bargain Hunters braked Plum meting Stock values but the out ook was that the final losses on the Day would average Between 10 and 15 per cent. Early Falls had sliced values by up to 30 per cent. The Pace proved too hot for the Exchange and the Issue of closing prices was postponed by More than one hour. I urn the worst session for 18 months Market sources said. Stocks were lopped off about 10 per cent of their value. Paris there were few signs of nerve son the bourse but values promptly turned downward. Losses on the Day averaged 3 and 4 per cent with some Falls extending up to8 per cent golds held firm. Frankfurt a Selling wave hit German stocks with some tumbling up to100 Points but the average fall was Between 20 and 30 Points. Volks Wagen counters which last year sold at better than i Jolo Marks opened tuesday at 500 and ended at 482. At monday s close the stocks were 549. Brokers blamed the decline on nervousness touched off by the big break on Wall Street monday hitting an already weak German Market. The German Stock exchanges have been in steady de Cline for the last five months a other heavy automotive looser was Nus Down 80 Marks to 550. Daimler dropped from 998 to 900. Other Sample closing prices on the Frankfurt Exchange were age electrical 353 Down 35,Siemens electrical 517 Down 46, Hoechst chemical 389ft Down 24.basf chemical 377 Down 24. Schem ing 318 Down 18, Thyssen steet 173down 15, Legussa metals 556 Down 51, Deutsche Bank 480 Down 25,Dresdner Bank 452 Down 23. T Tass says decline to hurl workers Moscow map the soviet news Agency Tass warned against a new onslaught on the rights of the working class in the United states following monday s Stock Market  Tass new York correspond Cut a Boj aches said the Stock crash had assumed catastrophic  Kennedy and his advisers would like to arrest the crash but they do not know How to do this the Tass report  report accused certain circles in the United states of trying to use the Stock Market situation As a pretext for a new onslaught on the rights of the working  Italy names foreign envoy Home up Premier Amintore Fanfani tuesday named Altilio pfc Long foreign minister of his Center left government. Taking stocka1c Fred Howard  watching Stock Market figure Bein chalked a at Wiesbaden s Hainer Bei office f Merrill Lynch Tierce funner & Smith is lwne5ntr " of Many americans in Europe awaiting Stock news. The Orlew Don t seem too popular with the investor at right. Is be Hewer