CBS Evening News for Tuesday, Jul 03, 1973
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(New York, New York) These are troubled times. Weiss and Company holds liquidation sale. 9 other firms New York Stk. Exchange reported in trouble and 59 others on warning list. [Chairperson New York Stk. Exchange James NEEDHAM - says industry lost $175 million this year] Dow Jones average now where was 1964. Total stock market value decline $109 billion between January and June. ("Barron's Wkly." editor Robert BLEIBERG - says dollar devaluing, loss of confidence due to Equity Company failing and Watergate. Predicts recession.] Critics claim stock market needs to be centralized and computerized and brokerage system needs reform. [NEEDHAM - says many stks. at bargain price.] Trading volume down. Reform slow on Wall Street
REPORTER: Robert Schakne
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