New York:
The
stock market recovers one day’s loss, recovering roughly half of the ground lost over the past two days. Volume is still huge: 10.7 million shares. But the turnaround is accomplished by major financial interests, including J.P. Morgan, once again entering the market and shoring it up. The New York Stock Exchange's governors, evidently believing -- or maybe hoping -- that the crash's free fall is over, announce that the exchange will be closed Friday and Saturday, and its opening delayed until noon on Thursday.
But the damage may be done. Ordinary "Main Street" Americans of every stripe were investing in stocks. If they’ve lost their faith, the capital may not come back, regardless of what the nation's major financiers do. Markets in Europe show continued weakness.
But the damage may be done. Ordinary "Main Street" Americans of every stripe were investing in stocks. If they’ve lost their faith, the capital may not come back, regardless of what the nation's major financiers do. Markets in Europe show continued weakness.
China:
Rumors of impending larger-scale warfare with Russia over Manchuria swirl again as the nationalist government releases another statement, this one more comprehensive, accusing the Soviet Union of making plans for such a conflict. The statement sets out to document the nature of Sino-Soviet relations over Manchuria at some length, detailing evidence China says it uncovered in a raid on the soviet consulate in Harbin last May, which they say indicates that the Soviet Union has been planning a military confrontation in Manchuria for a long time. It further states that China will hold Russia responsible for any losses suffered in a war. "And if a state of war should eventuate over the soviet government's incessant provocation, the responsibility for violating the peace of the Far East must be borne by the soviet government."
Manchuria:
Meanwhile, soviet warplanes bomb Fuchin, and soviet gunboats are reported in the area.Russia:
And the soviet government condemns more of its citizens to die. The Tass news agency releases a dispatch saying 12 people have been sentenced to death in various parts of the country for everything from criminal activity to anti-soviet agitation. Two of the condemned are priests, four kulaks, and one, a mullah (an Islamic clergyman).Libya:
The
key leader of the Libyan resistance to Italy’s occupation of Libya, OmarMukhtar, has denounced a compromise agreement he reportedly reached with the
Italians in January. Mukhtar is said to
be re-mobilizing the Libyan forces in preparation for renewing the resistance.
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