Under pressure of heavy selling by Jews, who are unloading their security holdings in the expectation that the decrees implementing the Nuremberg laws will be confiscatory, prices on the Berlin Boerse continued to decline.
While activity on the floor was limited, behind the scenes of the exchange transactions are taking place that give a truer indication of what is transpiring in financial quarters today. All of the larger sales of stock are being made privately. And in these transactions, Jews are figuring prominently on the selling side, their holdings being bought out by “Aryan” purchasers at prices far below those being quoted in the open market.
These transactions have naturally had an important effect on the entire market structure. Sales of stocks outside the Boerse at prices below their prevailing quotations have, when open sales have been reported, forced the market price steadily downward.
The uncertainty and nervousness which was noticeable on the Boerse Friday and Saturday was intensified when the market opened yesterday and prices fell steadily.
According to the evening edition of the Berliner Tageblatt, all efforts to stem the decline, have proved unavailing. Even the usually steady heavy industry and chemical stocks were unable to resist the pressure.
The evening papers made no secret of the continued weakness of the market.
Der Angriff disclosed that in the last nine months no less than 535 corporations voluntarily dissolved, leaving a total of not more than 8,000 still in existence.
The Deutsche Allgemeine Zeitung reported yesterday that “the Boerse closed with almost all shares showing a tendency toward a further decline.”
Market circles freely predicted that German stocks would continue to drop not only because of the selling by Jews but also because of the shortage of raw materials which has now reached its most acute stage in recent weeks.
While the stock market was reflecting the selling pressure, Nazis throughout the Reich continued with their boycott of Jewish enterprises. Today, the party began its annual Christmas campaign against Jewish shops, claiming that Jewish merchants were not entitled to the benefits of the Christmas trade since Christmas is not a Jewish holiday.
In several cities, Jewish shops were prevented from decorating their stores with the traditional Christmas decorations and also from selling Yule gifts.
The campaign will be extended all over the country by the cells of the so-called “Nazi Trade Organization.”
The Voelkischer Beobachter, Reichsfuehrer Hitler’s personal property, reports that exports of Christmas toys will this year reach higher proportions than in 1934 and that this season will witness the return of Germany to its former position of supremacy in this field. Last year a large proportion of toy manufacturer’s stocks could not be shipped from Germany because of the boycott, particularly to the United States.
The Archive of the Jewish Telegraphic Agency includes articles published from 1923 to 2008. Archive stories reflect the journalistic standards and practices of the time they were published.
