He promised that his price would soon sink back to $6 a case.
The board wanted to wait until prices sank, and in 1926 a new proposal was made.
During the day, the price had sunk even more, to a low of $372 an ounce.
Some experts believe that prices could soon sink to the low teens.
By last year, so many people were growing coca that the price sank to about $60.
Prices then sank to the low teens in 1998 and hit $11 a barrel a year ago.
During the years 1932-34 the prices on whale oil sank from £25 to £10 per ton.
The price of the bonds sank to about $37 yesterday, their lowest level since May.
And Morgan did not sell as much of its inventory when prices were sinking.
The affected stocks' prices immediately sank to their previous levels.